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China’s Growth Faces Structural Challenges Amid Doubts Over Data 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
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Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Stock Futures Dip as Investors Await Key Payrolls Data 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
The US dollar index pared some of its gains made after upbeat US Nonfarm payroll data. All eyes are on US CPI data for further direction. Headline CPI is expected to show a marginal downtick to 3.1% on a yearly basis from 3.2%. On a monthly basis, headline CPI is to remain flat while core CPI is anticipated to move a little higher to 0.30% from 0.2% the previous month.
Major resistance- 104.30,105
Major support- 103.25/102.40.
Yen-
The Japanese Yen was the top performer the previous week after BOJ hints at a policy shift. The market speculates Bank of Japan would end negative interest rates.
Major Resistance- 146.60,148
Major support- 144.80, 143
Pound sterling
The pound sterling showed a minor pullback ahead of UK employment data. Any upbeat jobs data will push the pound sterling higher. Markets eye US Fed and BOE monetary policy for further movement.
Canadian dollar -
Canadian dollar trades in a narrow range despite hawkish BOC monetary policy. WTI crude oil showed a nice pullback of more than $2 on upbeat US economic data.
Economic calendar -
Dec 12th, 2023, UK claimant count change (7 am GMT)
German ZEW economic sentiment (10am GMT)
US CPI m/m (1:30 pm GMT)
