Week 2, 2024 data: oil and gold

ExnessOfficial

Exness Representative
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This article offers a preview of the weekly data for USOIL and XAUUSD. The upcoming economic data later this week are poised to be the main drivers in the markets for the near short-term outlook. The most significant economic data for this week include:

Thursday:​

Australian Balance of Trade at 12:30 AM GMT: Expectations are for an increase, reaching a A$7.5 billion trade surplus. Although this might not significantly affect the Aussie Dollar, as the data are for November and could already be priced in, any major surprise may spike volatility temporarily.

US Inflation Rate at 13:30 GMT: The consensus is for an increase of around 0.1%, reaching 3.2% for December. If this proves accurate, it might not influence a change in the Federal Reserve's stance in their next meeting, where the probability for now is that they will keep the rates stable. However, any significant surprise in the actual figure could affect the dollar in the short term.

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