United States of America

The US dollar is strengthening against the yen and has mixed dynamics against the euro and pound.

Investors are focusing on the latest comments from US Federal Reserve officials, which add uncertainty to the regulator’s further actions: before the presidential election, it was believed that a significant reduction in interest rates would continue in the medium term, but after the victory of Donald Trump, who intends to cut taxes and raise import duties, the likelihood of easing monetary policy has decreased. Thus, last week, the head of the department, Jerome Powell, said that “the economy is not giving signals about the need to rush to lower rates,” and the chair of the Federal Reserve Bank of Boston, Susan Collins, noted that a December adjustment in the cost of borrowing by -25 basis points is possible, but will depend on incoming macroeconomic data. At the same time, the head of the Chicago Fed, Austan Goolsbee, in an interview with Bloomberg TV, on the contrary, hinted that he expects another change in the indicator before the end of the year, and by the end of 2025 - a reduction in the interest rate by another 125 basis points.

Eurozone

The euro is strengthening against the pound and the yen, but is mixed against the US dollar.

European Central Bank (ECB) officials fear US President-elect Donald Trump's new tariff policy more than rising inflation, the regulator's vice president Luis de Guindos said today, noting that the eurozone's economic recovery could come under pressure due to global political uncertainty and rising trade tensions. Deutsche Bundesbank Chairman Joachim Nagel was more optimistic, saying that Trump's promised tariffs would have little effect on inflation, and that if inflation accelerates, global central banks can stop the rise in consumer prices by adjusting interest rates.

United Kingdom

The pound is strengthening against the yen, weakening against the euro and showing mixed dynamics against the US dollar.

In November, the house price index from research company Rightmove Group Ltd. fell from 0.3% to -1.4% month-on-month. The agency's experts note that investors took a break to react to the new government budget and assess its impact on their financial situation. Nevertheless, the national construction market is much stronger than a year ago, which allows analysts to count on its recovery in 2025: experts expect property prices to grow by 4.0%, to a four-year high.

Japan

The yen is weakening against the euro, the pound and the US dollar.

Bank of Japan Governor Kazuo Ueda's latest comments have disappointed investors and weighed on the national currency, with the official saying the country's economy is heading for steady inflation driven by rising wages and noting that the regulator should end stimulus in a timely manner, as keeping interest rates low for a long time could accelerate consumer price growth more than expected. Traders had hoped that the head of the department would provide clarity on the regulator's actions at the December meeting, but Ueda only indicated the need to assess risks before making further decisions.

Australia

The Australian dollar is weakening against the pound and the euro, strengthening against the yen and showing mixed dynamics against the US currency.

Assistant Governor of the Reserve Bank of Australia (RBA) Christopher Kent noted that the impact of the monetary policy pursued by the Australian regulator is no stronger than in other countries with developed economies, although the country's households have a large volume of mortgages with variable interest rates. Recall that currently the RBA keeps the cost of borrowing at a 13-year high of 4.35%.

Oil

Oil prices are correcting lower after rising amid rising geopolitical tensions in the Russia-Ukraine conflict.

Thus, over the weekend, the administration of outgoing US President Joe Biden authorized attacks with American weapons deep into Russian territory: experts note that if they are aimed at oil infrastructure, then the prices for "black gold" could rise significantly. The upward dynamics are restrained by macroeconomic data from China, which reflected a decrease in the volume of raw material processing in October by 4.6% year-on-year, which increased investors' fears of a reduction in demand for hydrocarbons from the world's leading importer.