The tightened movements of the foreign exchange market signal a temporary “calm”, as investors are already preparing for the New Year and thus are paying less attention to the current market catalysts.
The FED can not bring the inflation back to a comfortable level and investors have realized that the regulator might want the labor market to deliberately overheat in order to understand, where the Phillips curve will work again.
The Oil quotas began the week with a decline. The net position of the CFTC data decreased moderately from 382.5K to 359K contracts, and the market remains uncertain. The Bank of Russia reduces the key interest rates.
US senators on Wednesday approved new penalties against Russia alleging its government in meddling into US presidential elections. Russian currency advanced despite the news on new possible sanctions.’