Confidence in the EUR is making a comeback. Overview for 22.12.2023

The primary currency pair looks robust on Friday. The current EURUSD quote is 1.1000.

The statistics released yesterday were not too favourable for the US, but they held their ground reasonably well. The second assessment of the US GDP for Q3 fell short of expectations. The economy expanded by just 4.9% y/y, compared to the initial annual calculation of a 5.2% rise. In Q2, the economy increased by 2.1% y/y.

According to the current forecast of the US Federal Reserve, the real US GDP in 2023 will increase by 2.6%.

Today is significant in terms of the release of macroeconomic statistics. The US will publish data on Americans' income and spending, the volume of durable goods orders, sales of newly built homes, and the core price index – all for November. There will also be a report on the consumer confidence index from the University of Michigan for December.

These data will conclude the December statistics. Next, capital markets will shift into the celebration of Catholic Christmas. During this period, stock market activity will be minimal.