Sergey Ershov / Blog
The past week became one of the weakest for the US dollar in recent months. USD began to lose its status as an unconditional safe-haven asset. Political and geopolitical uncertainty around the United States increased noticeably...
During the past week, trading sentiment was driven by key macroeconomic releases from the United States. Inflation data (CPI and PPI) confirmed the absence of a sharp acceleration in price pressures, allowing markets to maintain a restrained and relatively stable tone...
Drill, baby, drill is Trump’s slogan that, by 2026, has fully turned into a working strategy. The US president has focused on maximum oil production as a tool of economic and geopolitical pressure...
Macroeconomic data published in the US last week did not signal any sharp deterioration in economic conditions. ISM PMI indicators and labour market data, including the ADP report, weekly jobless claims, and the December non-farm payrolls, confirmed stable conditions in the US labour market...
The first full trading week of 2026 begins after the holiday break amid mixed dynamics in global markets. Market participants are gradually returning to active trading, while the US dollar is showing moderate strengthening...
The past week unfolded against the backdrop of gradually declining liquidity ahead of the Christmas holidays and a limited number of major macroeconomic releases. Market attention was focused on US data, including revised GDP estimates for Q3 and PCE inflation figures published on December 23-24...
Last week, major central banks announced their decisions. On December 18, the ECB left interest rates unchanged and confirmed that future steps will depend on key macroeconomic data. On the same day, the Bank of England cut its key rate from 4.0% to 3.75% due to slowing inflation...
Following its 9-10 December meeting, the US Federal Reserve cut the key interest rate for the third time since the start of 2025, lowering it by 25 basis points to a range of 3.5-3.75% per annum, fully in line with market expectations...
The Santa Claus Rally is one of the most recognised calendar effects in the market, first described by Yale Hirsch in 1972...