The EUR/USD fell to a ten day low in a holiday shortened week that saw thin trading volumes.
The British pound declined after worse than expected manufacturing data increased the chances of Bank of England rate cuts this year. as the greenback climbed against most of its rivals
The USD/JPY climbed to a more than one week high on a stronger dollar, despite the Bank of Japan outlining that it might consider further rate hikes next year.
Gold prices pulled back largely due to profit taking after jumping to a fresh record high at the end of the previous week. However, 2025 will be remembered as one of gold’s most successful years, with the metal up by 62%.
US S&P 500 stocks declined slightly amid some market caution in light trading in the post Christmas holiday season.
Oil prices inched higher in a volatile week as fading hopes for a Russia Ukraine peace agreement were offset by market predictions that the oil market will remain in surplus in 2026.