FX News

This Week’s Key Points

Market Overview

Key Points:

• Focus is firmly on US CPI this week with data expected to reflect a small dip to inflation.
• Visitor arrivals to New Zealand in October were 226,000 up 64,300 from the number last October and slightly up on September’s number of 224,900.
• The ECB is not expected to make their first rate cut until the summer of 2024 with the core inflation rate still well above target.
• US Unemployment edges lower with the jobless numbers the lowest since July.
• Israel’s massive air strikes in the northern part of Gaza continue with UN officials saying the situation in Gaza is a humanitarian disaster. More than 18,000 Palestinians have been killed since October 7th with the death toll in Israel standing at only 1,150.
• Bank of Canada keep interest rates on hold at 5.00%
• The Japanese Yen (JPY) has been the strongest performer in the month of December while the Euro (EUR) has been the worst performer.

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