Weekly Forex Market Summary: December 9th – December 13th
In the fast-paced world of forex trading, staying updated on market events is crucial for making informed decisions. Let’s dive into the weekly summary of key economic indicators and events that took place from December 9th to December 13th, 2024.
Monday, Dec 9, 2024
The week kicked off with a series of events impacting major currencies. From Japan’s Bank Lending and GDP data to China’s CPI and PPI numbers, investors were closely monitoring the outcomes. The Eurozone Sentix Investor Confidence and US Wholesale Inventories reports also contributed to the day’s market movements.
Tuesday, Dec 10, 2024
Tuesday saw a flurry of economic releases, including Australia’s NAB Business Conditions and Confidence reports. China’s Trade Balance figures, Japan’s Machine Tool Orders, and Germany’s CPI data were closely watched. Additionally, the US NFIB Business Optimism Index and Nonfarm Productivity numbers provided insights into the American economy.
Wednesday, Dec 11, 2024
Midweek brought key data releases such as the US Consumer Price Index (CPI) and Core CPI numbers. The Bank of Canada (BoC) Interest Rate Decision and US Crude Oil Inventories report also influenced trading sentiments in the market.
Thursday, Dec 12, 2024
On Thursday, attention shifted to Australia’s Labor Market data, Switzerland’s SNB Interest Rate Decision, and the ECB’s monetary policy announcements. The US Producer Price Index (PPI) figures, Initial Jobless Claims, and Canada’s Building Permits report added to the day’s market dynamics.
Friday, Dec 13, 2024
The week concluded with the UK’s GfK Consumer Confidence data, Japan’s Industrial Production numbers, and a series of UK Manufacturing reports. Eurozone Industrial Production figures, Canada’s Manufacturing Sales and Wholesale Sales data, along with the US Import Price Index, wrapped up the week’s economic calendar.
In a world where every data point matters, traders and investors closely analyzed these reports to navigate the turbulent forex markets. Stay tuned for next week’s summary to track the pulse of the global economy and its impact on currency movements.
