The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
Ahead of US December’s non-farm payrolls data, we have seen the Federal Open Market Committee (FOMC) December meeting minutes knocking the USD down a notch as seen in the week-to-date recap below. With committee members appearing uncertain with regards to the effect of the incoming administration’s policies in invigorating the economy, the market took to selling the USD. This was coupled with a relatively neutral expectation towards the December jobs report.
Equities had meanwhile rose in the first week of the year, seeing broad-based gains stemming from the optimism in the markets. As goes January, so goes the year. It certainly does look bright for stock markets for the year though the week ahead may hold a different set of drivers.