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Trade Zone Weekly Market Wrap | NFP, Fed Comments, Forex, Gold, Crypto, & More

Published: 16.12.2022
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.

What a week of data and news. US CPI data came in below expectations, giving risk markets a solid boost. US stock indexes failed to hold Stella gains seeing a strong fade into the NY session close. UK CPI came in below expectations, but this did not stop the SNB, ECB and Fed from raising rates to levels as expected.

The Fed meeting was a mixed bag as they confirmed they would continue to raise rates to a level of around 5% to beat down inflation. Other central banks also confirmed rate rises would continue, the ECB suggesting more 50 pointers are coming.

Markets moved lower on Thursday after digesting the latest news suggesting risk appetite just might not be that strong based on current messages from central banks. Adding to the overall weak mood overnight, we saw US retail sales drop below expectations and the Empire State manufacturing index came in sharply lower.

The USD posted a fightback knocking risk currencies and cryptocurrencies lower. Friday, we will see European, UK and US PMI data released, but with bears back in the hunt, could we see further falls to cap off the week?

Weekly Wrap Analysis

Have a great weekend and good trading!

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