Markets rallied Friday, to close out the best week on US equity markets, for the year. A very quiet trading day Friday, as many in the US have a long Thanksgiving weekend and shop on ‘Black Friday’. The market confidence has gone through the roof since the US Presidential election. This coming week is full of economic data releases, including PMI data across Asia, Europe and the USA. Inflation has once again reared its ugly head again in Europe, and this is a worry for the ECB. A series of US employment reports, come out during the next week, culminating in the Non-Farm Payrolls Friday. The US Dollar was softer to close out the week, with the EUR regaining 1.0550, while the GBP jumped back above 1.2700.
The weaker reserve allowed the NZD to regain 0.5900, while the AUD consolidates 0.6500. The coming week will be a data driven week, which will be highlighted, with an underlying and growing confidence. Worrying signs in Europe of slow growth and rising inflation, which remains a threat, while the war in Europe rages on.
