by Chris Becker
What a trading week that was, capped off by a big rally in US stocks – and gold of all things – as the November NFP/US unemployment print came in strong and locked in a certain rate rise just before Christmas. The ECBs Mario Draghi tried to double down on the banks efforts to create inflation, with no luck, while exasperating that markets got it wrong about its intentions. The Saudis cocked up again, thankfully, and actually managed to convince OPEC to raise production. This saw oil drop, added up to a near 5% slump over the week as the black tea heads to new lows.
As usual for the Monday morning wrap, we’ll lean back and look at the bigger trends with daily and weekly charts.