Strong EUR as a Christmas present. Overview for 25.12.2023

The main currency pair on Monday looks confident. The current EURUSD exchange rate stands at 1.1000.

Practically, all the important statistics have already been published. The market has several details to wait for, but everything critical to happen in 2023 has happened.

Friday reports from the US came out positive but there were several moments to note. For example, the base personal spending price index in November dropped to 3.2% y/y from 3.4% a month before. These statistics were better than expected. Calculated month by month, the index rose by 0.1%, like in October. The decrease in inflation parameters tracked by the Federal Reserve is a great signal for everyone craving for risk.

Durable goods order volume in the US in November grew by 5.4% m/m against the expected 1.7% increase. A month before, the index lost 5.1% (revised value). This index is extremely volatile, so there is nothing surprising in such substantial amplitude.

The consumer sentiment index by Michigan University in December reached 69.7 points, rising from 61.3 points previously. This is a good sign for capital markets.

However, there was also bad news. New home sales in November dropped to 590 thousand from 672 thousand in October.

Today and tomorrow there will be no activity on the market because the Catholic world is celebrating Christmas.