The week saw a slew of central banks reporting surprises. The Fed indicated that next year there will be up to 3 interest rate rises, followed by the Bank of England raising interest rates. Then the ECB reported in less dovish tones than the market expected
Eventually it took a late sell off in stocks on Friday for the US Dollar to shine through.
Canada Dollar was the worst performer as Oil prices failed to find any direction and short term rate spreads contracted dramatically.
Markets still have a growing undertone of Omicron concerns and if / when further restrictions maybe brought in coupled with continued inflationary pressures. Central banks are beginning to have their hand forced in dealing with inflation concerns.
The week ahead has less economic data as the last trading week before the festive break. The markets will be thin on volume so Omicron headlines and further restriction could lead to increased volatility
Merry Christmas all.
Weekly Majors Market Performance
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
