Markets face a crucial week before the festive break, with top-tier data releases taking center stage despite thinning liquidity. US GDP, jobless claims, Philly Fed Manufacturing Index, and Canadian retail sales all due throughout the week. UK retail sales data on Friday offers another peek into consumer spending.

After signaling more 2024 cuts than initially anticipated, the NAS100 experienced a rally, propelled by the Federal Reserve’s unexpected dovish tone, leading the Dow to reach an all-time high.

Dollar Demolished: The U.S. dollar (DXY) plunged below 102.00 on Thursday, its lowest since August, driven by a dovish surprise from the Fed. Rate cut talk in 2024 and 2025, exceeding September’s projections, sent Treasury yields tumbling and sparked a dollar selloff.

Here are the Top Market Analysis for the 14th of December, 2023.

The recent surge in EUR/USD may be a false dawn, driven by hopes of a faster end to European quantitative easing and stabilizing US inflation. While positive German economic sentiment and rumors of an accelerated QE taper offer temporary support, the lack of expected Fed rate cuts in 2024 could ultimately stall the euro’s momentum.

This week will be crucial for the currency pair as several key economic data releases are scheduled, potentially impacting its direction.

All eyes are on the Federal Reserve’s final policy meeting of 2023 this Wednesday, with markets expecting interest rates to remain at their 22-year high. Investors will dissect the Fed’s statement and Chair Jerome Powell’s press conference for hints about potential rate cuts in 2024.

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