The first week of a new year was very interesting on the markets. FOMC minutes and data from the US labour market triggered a lot of volatility on the markets. Next week also looks interesting as investors will be offered US CPI readings for December, German GDP report for 2022 and Q4 2022 earnings from Wall Street banks. Be sure to follow GOLD, US500 and DE30 next week!
GOLD
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Open account Try demo Download mobile app Download mobile appFOMC minutes and recent comments from Fed members boosted hawkish bets in the markets. Interest rates in the United States are expected to remain elevated this year, combined with reduction of the balance sheet. The upcoming US CPI reading for December (Thursday, January 12th at 1:30 pm GMT) could cement these expectations further. Median consensus points to deceleration in headline price growth to 6.9% YoY from 7.1% YoY! Higher-than-expected reading could boost odds for Fed further rate hikes, and in turn exert pressure on gold prices.
US500
Wall Street earnings for the Q4 2022 begins next week. As usual, major US financial institutions will be the first ones to report results. Earnings from Bank of America, Wells Fargo, Citigroup, BlackRock and JPMorgan will be released on Friday 13th, ahead of the US session open. Banks' results could be upbeat as US yields were on the rise in recent months amid accelerating inflation and growing expectations of the Fed's tightening. Solid results could help set the tone for the upcoming earnings season and provide support for the S&P 500 index.
DE30
Earnings seasons in Europe will commence later than on Wall Street. However, investors from Europe will be offered one reading this week that may have a big impact on DE30. The German Federal Statistical Office will publish 2022 GDP growth data on Friday 13th at 09:00 am GMT. The market expects growth of 1.6% for 2022, following a 2.6% GDP expansion in 2021. Lower than expected reading could magnify pressures on the German index.
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