Hello and welcome to the last update of the year, December 31st!

China’s Manufacturing PMI held steady at 50.1, just above the expansion mark, while the Non-Manufacturing PMI surged to 52.2, showing strength in the services sector. Over in the U.S., home prices rose 4.2% year-over-year, slightly beating expectations, though monthly gains slowed to 0.4%.

With bank holidays in Japan and Germany, global markets were quieter today. As for the dollar, mixed U.S. housing data and stronger Chinese activity could lead to a balanced DXY, with minimal movement heading into 2025.

Thanks for listening, and Happy New Year!