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Eightcap Trade Zone Weekly Market Wrap | NFP, Fed comments, Forex, Gold, Crypto, & more

Published: 23.12.2022
by Joseph Jeffriess

Welcome to this week’s wrap-up traders. Instead of focusing on one market, we have done a walk-around in today’s video, taking a look at some of the key data, comments, and news that hit the market. We have also done an analysis walk-around, looking at FOREX, stocks, indices, oil, gold, and cryptocurrencies.

So far, a mixed week from risk to the USD with wins on both sides. Things looked good until we saw some decent selling last night, and this was the same for stock indexes as buyer momentum was knocked on Thursday.

The key event this week was the bank of Japan meeting. The bank announced a surprise bond-buying program and adjusted the yield level sending the JPY flying higher. The Nikkei was knocked lower, and the futures market closed, hitting the limit down. Majors faired no better with major plunges to the yen. The AUDJPY traded as much as 5% lower that day.

To cap off the week, we have more inflation data with the core PCE price index to be released later today. We also have Canadian GDP data to be released. US final GDP came in at 3.2%

Weekly Wrap Video

We wish everyone a very Merry Christmas and a safe holiday.

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