Recent data on the second estimate of the gross domestic product (GDP) for the third quarter in the United States recorded a figure of 4.3%, significantly surpassing the forecast of 3.2% and the previous period’s 3.8%. This indicates that the U.S. economic activity remains relatively strong in Q3 2025.
Conversely, the latest report on durable goods orders in the U.S. showed a month-on-month decline of 2.2% in October, which is much lower than the forecast of -0.9% and the previous increase of 0.7%. This indicates early signs of slowdown in the real sector as we enter Q4 2025.
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These two conflicting economic indicators have encouraged market volatility at the start of trading on Wednesday (12/24/2025).
Market expectations for the Federal Reserve to cut interest rates two to three times in 2026 remain strong, considering the economic slowdown in the U.S. is beginning to take hold in Q4 2025. This sentiment continues to overshadow overall market movements.
Meanwhile, geopolitical tensions between the U.S. and Venezuela have heightened once again. Recent reports indicate that the U.S. has started deploying a significant number of special operations aircraft, troops, and military equipment to the Caribbean region this week. This move further suggests that the U.S. is increasing its options for military action against Venezuela.
These sentiments are likely to continue influencing market movements during trading in Europe.
ذهب
Gold prices (XAUUSD) surged by $41.05 or 410 pips to $4,484.16 per troy ounce during trading on Tuesday, achieving an all-time high record. In this morning’s trading, Gold set another record with an increase of $41.44 or 414 pips to $4,525.60 per troy ounce.
This steep rise has been driven by expectations of more aggressive interest rate cuts from the Fed next year, as well as escalating geopolitical tensions between the U.S. and Venezuela, which add to global uncertainty. The risk of conflict escalation has heightened demand for safe-haven assets.
With this combination of sentiments, Gold may continue to strengthen during trading in Europe.
زيت
Oil prices (CLS10) rose by $0.52 to $58.46 per barrel, marking a three-day consecutive increase. Geopolitical tensions between the U.S. and Venezuela, including the blockade of tankers entering and leaving Venezuela, continue to impact global oil supply.
Additionally, Ukraine’s attacks on Russian energy infrastructure have caused damages to key Russian export routes, tightening global supply even further.
These sentiments are alleviating concerns over oversupply and could lead to further increases in oil prices during European trading sessions.
اليورو مقابل الدولار الأميركي
The EURUSD pair increased by 317 points or 31.7 pips to 1.17909, achieving two consecutive days of gains while still attempting to continue its upward trajectory today. The weakening of the U.S. dollar due to expectations of more aggressive rate cuts from the Fed is the primary driving force.
Without any important economic data releases from the euro area, pressure on the U.S. dollar is likely to continue supporting the rise of EURUSD during trading in Europe.
الجنيه الاسترليني مقابل الدولار الأميركي
GBPUSD is moving in line with EURUSD, rising by 555 points or 55 pips to 1.35120, marking two consecutive days of gains and still striving to strengthen further. The main sentiment continues to stem from the U.S. dollar being pressured by the outlook of more aggressive interest rate cuts from the Fed in the coming year.
Without any significant economic data releases from the UK, GBPUSD movements are expected to be dominated by U.S. dollar dynamics, with potential for further gains remaining open.
دولار أمريكي/ين ياباني
USDJPY fell by 774 points or 77 pips to 156.181, recording two consecutive days of decline, which is still ongoing today. The pressure arises from the weakening U.S. dollar due to expectations of more aggressive monetary easing by the Fed.
On the other hand, the yen has received positive sentiment as the Japanese government begins preparations for intervention in the foreign exchange market. Additionally, minutes from the Bank of Japan (BoJ) meeting in October indicated the potential for further tightening of monetary policy.
This combination of sentiments may continue to press down on USDJPY during trading in Europe.
ناسداك
The Nasdaq index rose by 111 points to 25,811, achieving four consecutive days of gains. Market optimism that the Fed may cut interest rates more aggressively next year remains the driving force behind the strength of the technology stock index.
This positive sentiment is likely to continue supporting Nasdaq’s movements during trading sessions in Europe.
