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This weeks update:
17th December 2024
The Fed’s rate cut is almost here, oil’s fighting resistance, and US equities are riding a tech-fuelled wave – get all the latest market moves below!
All signs point to the Federal Reserve announcing a 25bps rate cut this week after U.S. inflation data came in on target. Core CPI held steady at 3.3% year-on-year, while Headline CPI ticked up slightly to 2.7%.
The result? U.S. equities surged, with tech giants like Alphabet, Tesla, and NVIDIA leading the charge. Alphabet's stock soared on news of its groundbreaking quantum AI chip, while Tesla jumped 6% after GM stepped back from driverless taxis.
The big question: Can this rally keep going as we head into the holiday season, or are we due for a correction?
Oil prices: Stuck in the middle?
Crude oil had a moment last week, bouncing off lows thanks to rising Chinese imports and promises of economic stimulus. But the 100-day moving average has been a tough ceiling for US Light Crude, holding firm since mid-July.
With OPEC cutting demand growth forecasts for the fifth straight month, is crude set to remain range-bound, or could supply shifts break the stalemate?
Economic calendar: What’s next?
This week kicks off with China’s industrial production and retail sales figures, alongside Eurozone and UK Flash PMIs on Monday. Tuesday brings UK labour market data, German ZEW Economic Sentiment, and Canadian CPI updates.
Wednesday takes centre stage with the Federal Reserve’s rate decision and press conference, where a 25bps cut is widely expected. On Thursday, all eyes will be on the Bank of Japan’s rate decision and the Bank of England’s announcement, with rate cuts likely on pause.
The week wraps up on Friday with UK retail sales and the Fed’s preferred inflation measure, Core PCE. Opportunities are everywhere – are you ready to seize them?
This week's key earnings:
Tuesday
HEICO Corp.
Wednesday
Micron Tech
General Mills
Birkenstock
Thursday
NIKE
FedEx Corp.
Accenture
Friday
Carnival Corp.
Winnebago
This week’s top article:
Top 15 forex trading tips every trader should know
Looking to sharpen your Forex trading skills? Our latest article is packed with actionable tips to help you trade smarter and more confidently. From mastering risk management to recognising market trends, these insights are designed to give you the edge in a fast-moving market.
Whether you’re a newbie or a seasoned trader, there’s something here for everyone to take their trading game to the next level.
This is it, traders – the final Trading411 for 2024!
But don’t worry – we’ll be back in January with fresh insights, bold predictions, and all the market updates you love. Until then, trade smart and let’s ring in a great new year together!
Stay sharp, trade smart, and we’ll see you in 2025!
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