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Hey Z,
What an eventful week that was, filled with major economic events, announcements, and data releases.
In a surprising turn, U.S. retail sales rose more than expected in December, revealing a robust consumer spending trend.
The Commerce Department's recent report indicates a 0.6% rise in sales, driven by increased motor vehicle and online purchases. What's particularly noteworthy is the 5.6% year-on-year increase, showcasing sustained momentum.
The upbeat report prompted economists to upgrade their economic growth estimates for the fourth quarter, and also fueled uncertainty around expectations that the Federal Reserve would start cutting interest rates in March.
Investors worried that a strong December sales report, which suggests a robust consumer, could mean fewer rate cuts from the Fed than many expect.
It will be interesting to see how the interest rate moves in the Fed’s upcoming meeting in March.
Our top analysts are tracking this trend and how it can offer potential opportunities in this quarter (Q1). Click Here to know about their trades.
Here's a scoop of other market movers from the week:
1. IMF Warns of AI's Job Impact: The International Monetary Fund (IMF) issued a warning about artificial intelligence (AI) affecting nearly 40% of jobs worldwide. With higher risks in high-income countries, AI's potential to increase global inequality is underlined. IMF Managing Director Kristalina Georgieva stresses the need for proactive policies to address these challenges.
2. Resilient Labor Market: The U.S. labor market continued defying expectations with an unexpected drop in initial jobless claims last week. Initial filings for unemployment insurance totaled 187,000 for the week ended January 13, the lowest level since September 2022. Despite the Fed's efforts to slow the economy through interest rate hikes, the job market remains robust.
What could this mean for economic policy and market dynamics? Our analysts break it down. Click here to know more.
3. Housing Dips: The construction of new homes in the U.S. took a 4.3% dip in December, a signal that home builders are scaling back projects. So-called housing starts fell to a 1.46 million annual pace from 1.53 million in November.
4. Germany's Economic Contraction: Germany faced economic headwinds in 2023, contracting by 0.3%. The culprits? Persistent inflation and weakened foreign demand. This contraction in Europe's economic powerhouse raises concerns about broader economic stability
5. China's Growth: Contrasting Germany's economic contraction, China's economy grew by 5.2% in 2023, slightly exceeding official targets.
So, that was a wrap. To help you make sense of it all, we've got an exclusive strategy guide. Grab your copy >>
To your success, Tad DeVan
Senior Currency Strategist
Market Traders Institute |
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| Explore CAD pair trades with 5,500 PIP potential! January is already buzzing with excitement, and our Q1 market prediction is making waves! It’s because the first quarter of 2024 is ALL ABOUT "Black Gold."
It’s already kicking off potentially BIG moves in USOIL and currency pairs - offering around 5,500 PIPS of Q1 trading opportunity.
To know how we’re trading it, join our upcoming trading session. We’ll go over: - CAD-based currency pair prediction trades
- Current market trends for targeting big gains
- USOIL, commodities, and currencies
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| TRENDS WE ARE TALKING ABOUT
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| Monday 11:00 AM EST The USD Was Up 9 weeks in a Row. The JPY Can Be Your Next Trade. See it LIVE
The strong move in the Dollar came from rising interest rates. The Bank of Japan can lead the Yen the same way. Even a hint of rate movement can send the Yen on a massive run. See how to trade it LIVE. REGISTER FOR FREE →
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| Monday 1:30 PM EST The ABCD Pattern with AUTOMATION in the FOREX Market
See the method and tools our traders are using to get results in the market, LIVE.
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| Monday 7:00 PM EST See How Our Students Use the Hybrid Trading Room to Get RESULTS in the FOREX
Replicating what works is the key to success. Instead of trial and error, you can replicate our trades. See How to do it in this LIVE Webinar and be ready to trade the FOREX as soon as Wednesday.
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*Predictions are not a guarantee of this or any result. Information provided on this prediction is for general information purposes only. We offer no representation or warranty with regard to this prediction. No prediction is personalized or otherwise directed at any individual or particular circumstances. We disclaim and will not accept any liability for losses associated with this prediction.
**Predicted movements expected to last from 1st January, 2024 through 31st March, 2024. |
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