Libertex Show

News that the University of Michigan Consumer Confidence Sentiment is now up to 68.6 pts, coupled with lower inflation expectations, have helped buoy the US stock market and led to a slightly weaker US dollar.

Eurozone industrial manufacturing rose by 2% in annualised terms, although the majority of analysts forecasted a stronger growth rate drop to 0.5% annually.

Brent oil prices have risen by nearly 7% in a week.

Australia released retail sales and consumer price index data that were higher than expected.

Despite the trend toward a weakening dollar at the beginning of this week amidst a larger-than-expected slowdown in wage growth in the United States, the GBP/USD pair was unable to overcome the significant resistance at 1.2215.

Despite the better-than-expected jobs figures and unemployment rate in the United States, the average hourly wage slowed significantly more in December 2022 than analysts had forecasted.

From the start of 2022, Bitcoin's price has fallen by nearly 65%, while the market capitalisation for all cryptocurrencies has dropped below $900 billion.

The San Francisco Fed's Economic Research Department announced that the leading recession indicator, which is based on macroeconomic time series analysis, is not signalling an impending recession.

Before the Christmas holiday, the US Bureau of Economic Analysis announced that the Personal Consumption Expenditures Price Index (PCE) rose by 0.2% in monthly terms, while the year-to-year indicator fell from 5% to 4.7% in October.

The dollar has been weakening since the beginning of the trading week.