Market Overview - Page 86

Inflation data continues to be the main driver of the markets. This morning the currency market focused on a surprise out of Australia, where the annual CPI growth rate for the fourth quarter accelerated from 7.3% to 7.8%, against expectations.

According to Markit’s preliminary estimates of business activity, the Eurozone economy has moved out of contraction and is trying to claw its way into growth. The eurozone composite PMI rose from 49.3 to 50.2, better than the expected 49.8. The.

Oil briefly topped $82.50 per barrel WTI on Monday, testing the highs seen in the second half of November. The bulls are betting that China’s lifting of restrictions will boost global demand for commodities and energy. Although the US became.

The EURUSD reached 1.09 early Monday, its highest level since April last year. A strong uptrend has been in place for the past four months, during which time the pair has risen from lows just above 0.95 to the current.

UK retail sales fell by 1% in December, excluding fuel by 1.1%. The data surprised analysts who had, on average, expected an increase of 0.5% last month. Sales were 5.8% lower than in the same month a year earlier, when.

Gold has made an impressive rally in the last 11 weeks, adding 19.9% to its lows at the start of November and hitting highs since last April at $1937 this morning. While maintaining a bullish outlook on gold, we focus.

The number of building permits issued in the USA fell by 1.6% in December to 1,330k, the lowest number since May 2020. From the peak in March last year, the decline was 30%. The number of housings starts in December.

U.S. statistics released on Wednesday signalled a decline in economic activity towards the end of the year, but the Fed maintained its hawkish rhetoric. Such a toxic mix turned markets lower towards the end of the day, causing the Dow.

The Bank of Japan, which has not changed interest rates for the past six years and remains fully committed to QE, sparked a strong market reaction by leaving policy unchanged today. The Bank of Japan surprised markets at its last.

The UK market is showing further signs of a reversal in the labour market towards a fall in employment, but the increased pace of wage growth is keeping a close eye on the Bank of England’s actions and comments. Jobless.

An extensive package of statistics from China showed a much better economy than the average analysts had expected. But this set of economic surprises failed to affect the renminbi, which is falling for a second day, having lost 1.4% in.

Japan’s Domestic Corporate Goods Price Index rose 0.5% m/m and 10.2% y/y in December after 0.8% m/m and 9.7% y/y. This is near the peak of 10.3% set in September. Despite lower commodity prices, prices are stubbornly reluctant to fall.