During the week, US economic data confirmed solid performance, albeit with signs of moderation towards 2026. The highlight was the upward revision of third-quarter GDP, which reached an annualized growth rate of 4.4%, the strongest since 2023 and higher than the initial estimate. This progress was supported by robust private consumption, higher exports, and increased public spending, while the negative effect of inventories was less than expected. At the same time, inflation

During the week, the United States combined trade policy announcements with a barrage of relevant economic data. On the political-trade front, the White House described the imposition of 25% tariffs on certain advanced semiconductors for national security reasons as "phase one," leaving the door open for further measures. At the same time, Donald Trump's administration applied a similar tax to some artificial intelligence chips, including products from Nvidia and AMD. Washing

The main political event of the week was the capture of Venezuelan President Nicolás Maduro by US military forces, following an operation carried out on January 3 on Venezuelan territory. The operation included armed actions in Caracas and resulted in Maduro being transferred to New York to face criminal charges. Following the event, the Supreme Court appointed Delcy Rodríguez as interim president, amid strong internal divisions, protests, and regional and international diplo

During the last week of the year, US economic indicators showed mixed signals, with a gradual slowdown in manufacturing activity and greater clarity on the direction of monetary policy. The manufacturing PMI publishedbyS&PGlobalwas confirmed at 51.8 points in December, down from November's figure, marking weaker expansion within the current growth cycle. In line with this moderation, the Chicago PMI surprised on the upside, rising to 43.5 points, although it remained in contr