• Direct FX is closed on the statutory holidays but will be open for dealing on the days between Christmas and New Year.
• The cost of living in New Zealand is high with spending this Christmas expected to be well down on previous years.
• The ECB’s Kazimir has suggested the central bank cannot yet declare victory on inflation, it would be a mistake to ease too early.
• Chinese and Russian officials have met in Beijing to enhance macroeconomic policy and economic cooperation solidifying their partnership status.
• North Korea has fired another ballistic missile towards North Korea’s east coast.
• Crude Oil is higher Monday after BP said it was pausing shipments through the Red Sea after attacks on vessels last weekend.
• Germany fears a recession ahead.
• The Japanese Yen (JPY) has been the strongest performer over the past week while the US Dollar (USD) has underperformed.