Despite mixed performance as investors became more cautious, the US dollar remained stable at the end of last week.
This week will provide important clues for investors who are full of important economic data to study.
Of course, the main focus will be on the results of the last FOMC meeting of 2024 after several weeks of the market being puzzled based on the available clues.
With high expectations at the moment, the Federal Reserve (Fed) is expected to implement a 25 basis point interest rate cut for the December meeting to 4.50%.
In addition to the Fed, several other central banks will also announce their respective interest rates at their meetings this week, including the Bank of Japan (BOJ) and the Bank of England (BOE).
Before that, manufacturing and services PMI data for Europe and the United States (US) will begin trading early this week, which will be the focus of the European and New York sessions tonight.
As for other major currency developments in the market, the Euro posted a slight increase against the US dollar at the close of last week, signaling to take advantage of the situation at the opening earlier this week.
Meanwhile, the Pound experienced further declines last Friday as UK economic growth data for October recorded a contraction, missing positive forecasts.
The Australian dollar failed to extend its strengthening at the end of the week after a strong Australian November jobs report was published earlier.
The Canadian dollar clearly showed a decline following the Bank of Canada (BOC) continuing to ease monetary policy, with an aggressive interest rate cut of 50 basis points at its latest meeting last week.
Gold trading disappointed investors as prices plunged further at the end of the week, while crypto investors rejoiced as Bitcoin prices reached a new all-time high earlier this week reaching $106,000.
