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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.