EURUSD steady after in-line CPI data
It was quite a week for the pair, as CPI data and the ECB interest rate decision seemed to prepare traders for this week’s Federal Reserve System (fed) decision. As yearly inflation ticked higher, traders are wondering how aggressively The Federal Reserve System (fed) will cut their next rate, although the consensus is it will only be by 25 basis points. With things apparently returning to normality next year, will a Trump administration cause the Fed to think twice before cutting their next rate? 1.0600 is the next hurdle, and 1.0460 is fresh support.
UKOIL takes a breather after bull run
Brent crude continues to bounce off last week’s 70.76 low amid concerns of tight global crude supplies. A fresh EU sanctions package targeting Russian oil and Donald Trump’s comments, which point to further restrictions, could see a further rally ensue. With oil in general being a hot topic, especially with global tensions simmering, the black gold could see a significant advance as we go into the new year. 72.00 is a critical floor, and 75.00 is the immediate hurdle.
SPX 500 closes another record
Stocks remain bullish in the US, as the recent inflation data brought no surprises and bolstered expectations that The Federal Reserve System (fed) would continue to cut rates. With the labour market looking supported, growing speculations are that the central bank would start to consider cutting rates more aggressively into 2025, which could give equities a solid boost, helping the index finish the year in the green above 6200. 5950 is the closest support.
