Market Overview - Page 67

US equity indices declined in the first five trading sessions of January. This dynamic promises a challenging year for the stock market, according to the old “first five days” rule. Identifying a defining trend would have been an easy task.

Inflation is still on the agenda, and global markets are playing up signs that it is easing. Chinese inflation and US PPI were the focus of traders on Friday. Consumer prices in China fell 0.3% y/y versus -0.5% in the.

Oil is up 2.8% since the start of the day on Friday following a new round of escalation in the Middle East. The price of Brent rose above $80, while a barrel of WTI traded above $75. The US and.

US consumer inflation exceeded expectations, adding 0.3% m/m and accelerating the annual pace from 3.1% to 3.4% in December, above the expected 3.2%. The core CPI also added 0.3% m/m, while its year-on-year gain slowed from 4.0% to 3.9% but.

Japan’s Nikkei225 index hit new highs since February 1990 on Thursday morning and climbed above 35000. The rise accelerated sharply this week after breaking above the 34000 level, which acted as resistance in the second half of 2023. The fundamental.

The Swiss franc hit nearly nine-year highs against the dollar on Friday, adding over 6.2% YTD and 8% YTD. If we exclude the period of abnormal volatility on 15 January 2015, EURCHF rewrote historic lows, falling just a couple of.

Fresh data from the UK painted a mixed economic picture, but the market, in line with the trends of recent days, paid attention only to the positive data. The bright side was a 1.3% increase in retail sales for November.

Britain’s impressive slowdown in inflation has increased speculation around a rate cut next year. The headline consumer price index lost 0.2% in November, and the annual rate slowed from 4.6% to 3.9% – impressively below the expected 4.3%. Inflation excluding.

Oil has been gaining for the past week after briefly dipping into the area of the lows of the year. Oil was up amid Red Sea tankers’ attacks, a crucial trade route that accounts for about 30% of trade turnover..

Germany’s business climate, according to the Ifo Institute, deteriorated in December instead of the expected improvement, providing further evidence that the manufacturing sector is struggling. The business climate indicator fell from 87.2 to 86.4 instead of the expected increase to.

Market Picture The second half of Monday proved to be for the bulls in cryptocurrencies, triggering a 3.5% rise in capitalisation over the last 24 hours to $1.61 trillion. Daily updates of all-time highs in US stock indices support the.

The Dollar made a crucial technical breakdown the previous week following a public admission from the Fed of a policy reversal. The Fed’s comments and subsequent press conference pressed the Dollar index under its 200-day moving average. The decline continued.