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This weeks update:
December week 1
Tariff threats, tumbling Treasury yields, and gold digging its heels in - here’s your need-to-know for the week!
Last week ended with US stock index futures showing signs of life after a subdued Thanksgiving trading session. With low volumes and lighter action, it was the 10-year Treasury yield drop to 4.21% that stole the show, providing a boost for equities.
Just weeks ago, yields flirted with 4.50%, but here we are - a world of uncertainty over inflation and interest rate moves.
Add to the mix a fiery tariff salvo from President-elect Donald Trump, targeting imports from Canada, Mexico, and China, and markets are bracing for inflationary ripples.
All eyes now turn to upcoming data like Non-Farm Payrolls and CPI, with traders weighing the odds of a Fed rate cut this month (66% chance, anyone?).
Gold: Stubborn or strong
Gold’s clawing its way back after a rough sell-off, reminding everyone why it’s a trader favorite. It’s holding firm above $2,600, but that level has seen some wobbles before.
Will gold keep climbing the stairs, or are the bears waiting by the elevator? Risk management is key here - have a plan and stick to it.
Crude oil: OPEC+ on watch
Crude oil slid last week, but $68 remains a crucial support level for US Light.
OPEC+ has delayed its meeting to Thursday, likely to extend production cuts. Meanwhile, the US is pumping at record levels, and China’s demand outlook remains murky.
Will global demand rise, or will cheap oil save the day?
Economic calendar: What’s next?
This week’s economic calendar is packed with key updates and market-moving data. The action starts on Monday with Australian Retail Sales alongside Chinese and Japanese Manufacturing PMIs, followed by a flurry of second-tier data releases from the Eurozone and UK.
The US ISM Manufacturing PMI is the highlight of the day. Tuesday shifts focus to US JOLTS Job Openings, while Wednesday brings Australia's GDP, China's Services PMI, and Swiss CPI, as well as Services PMIs from the Eurozone and UK.
The US contributes heavily with ADP Non-Farm Employment Change, ISM Services PMI, Factory Orders, and Crude Oil Inventories.
On Thursday, expect more Eurozone data, US Weekly Unemployment Claims, and the rescheduled OPEC+ meeting, where production cuts are likely to be extended into next year.
The week wraps up on Friday with the UK’s Construction PMI in the morning, followed by US Non-Farm Payrolls, the Unemployment Rate, Average Hourly Earnings, Consumer Sentiment, and Inflation Expectations later in the day.
This week's key earnings:
Monday
Zscaler
Credo Tech
Tuesday
Marvell Tech
Pure Storage
Okta
Wednesday
Dollar Tree
Chewy
American Eagle
Thursday
Kroger
Lululemon
Ulta Beauty
Friday
Korn Ferry
John Wiley
This week’s top article:
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Now’s the time to make your move! Stay sharp, stay ready, and trade smart!
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