Three markets to watch next week (29.12.2023)

5:56 PM 29 December 2023

Global financial markets are closing a volatile 2023 and investors are looking forward to trading opportunities that 2024 will bring! The first week of a new year is packed with top-tier data releases. Jobs reports from the United States and Canada, flash German CPI data as well as FOMC minutes will ensure market volatility in the first days of a new year. Be sure to watch US500, GOLD and EURCAD in the week ahead!


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The first week of a 2024 is abundant in macro data releases from the United States. Traders will be offered JOLTS report on job openings for November (Wednesday, 3:00 pm GMT), ADP report for December (Thursday, 1:15 pm GMT) as well as NFP report for December (Friday, 1:30 pm GMT). Apart from those, releases of ISM indices for December (Wednesday and Friday, 3:00 pm GMT) may provide some additional volatility on US equity indices, like US500.


Gold had a solid final quarter of 2023 and is about to finish the year well above the psychological $2,000 per ounce. This was to a huge extent driven by dovish Fed expectations and weaker USD. Both those factors will remain on gold traders' watch in 2024. The next week will see release of FOMC minutes from December meeting (Wednesday, 7:00 pm GMT). Document may shed some more light on discussion that were followed by dovish projections, and this may have some short-term impact on gold price moves.


EURCAD is one of the FX pairs that may see some moves during the first week of a new year. Traders will be offered flash German CPI reading for December on Thursday at 1:00 pm GMT, with the report expected to show significant acceleration. However, Spanish CPI reading released before the weekend missed expectations and showed an unexpected slowdown in headline measure. On the CAD-side, the pair may see some volatility on Friday at 1:30 pm GMT when Canadian jobs report for December is released.

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