The EUR/USD pair confidently lingers at local peaks this Monday, with the current exchange rate standing at 1.1000.
With the majority of crucial statistics already disclosed, the market, while awaiting a few details, has largely absorbed the critical events of 2023.
Friday’s US reports carried positive tones, marked by notable moments. Notably, the base personal spending price index for November eased to 3.2% y/y from the preceding month’s 3.4%, surpassing expectations. On a month-to-month basis, the index exhibited a 0.1% rise, mirroring October. The decline in inflation parameters tracked by the Federal Reserve presents an encouraging signal for risk enthusiasts.
Durable goods orders in the US witnessed a substantial 5.4% m/m growth in November, surpassing the anticipated 1.7% increase. In the previous month, the index had experienced a revised loss of 5.1%, showcasing the characteristic volatility of this index.
The consumer sentiment index by the University of Michigan for December surged to 69.7 points from the previous 61.3 points, boding well for capital markets.
However, not all news was positive, as new home sales in November dwindled to 590 thousand from October’s 672 thousand.
Given the Christmas celebrations in the Catholic world, market activity will remain subdued today and tomorrow.
The post Strong EUR Delivers a Christmas Surprise: Overview for December 25, 2023 appeared first at R Blog – RoboForex.