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Spain December preliminary CPI +3.1% vs +3.2% y/y expected
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China’s National People’s Congress will be underway on 5 March next year
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UK December Nationwide house prices 0.0% vs 0.0% m/m expected
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ForexLive Asia-Pacific FX news wrap: USD/CNH hit a 6-month low
News and data flow were almost non-existent. We did get South Korean December inflation data: 0% m/m (vs. +0.2% expected and -0.5% in November) 3.2% y/y (vs. 3.26% expected and 3.3% in November) It was a subdued session for major forex rates. The Chinese yuan...
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Goldman Sachs forecasts GBP/USD to 1.35 in 2024
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Fidelity on sticky inflation, and only limited Fed cuts – “market is like a spoiled child”
Fidelity Investments commented on their outlook for the Federal Open Market Committee (FOMC) and equity markets in 2024.On the Fed:“A few rate cuts make sense because inflation has fallen. I think it’s likely to be sticky at around 3%” “The market is like a spoiled...
The Collapse of Central Bank Forward Guidance
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Economic calendar in Asia for Friday, 29 December 2023 is nearly empty
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Oil drops despite large US inventory draw
WTI crude oil hourlyWTI crude oil is at the lows of the day, down $1.62 to $72.49.The Boxing Day rally has now been completely wiped out and crude is lower on the week.The drop in oil comes despite a bullish weekly oil inventory report that showed:Crude -7114K vs...
US treasury sells $40 billion of seven-year notes at a high yield of 3.859%
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Lower closes for the major European indices
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USD/JPY reminds us of what time of year it is
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US dollar struggles to hold onto gains despite rising yields
USD/JPY dailyThe US dollar is off the best levels of the day as we count down to the New Year.This time of year is all about flows and tomorrow is the final day for US tax-loss selling in equities, so that's an important factor to note. In the bigger picture, the...
US November pending home sales 0.0% vs +1.0% expected
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US stocks trading marginally higher in early US trading
US major indices are trading marginally higher in early US trading. Dow Industrial Average is trading up 51.00.16 percent at 37717.80S&P index is up up 9.28 points or 0.19% at 4790.60Nasdaq index is up up 25.42.00.17 percent at 15125.42The Russell 2000 of...
US preliminary wholesale inventories for November -0.2% versus -0.2% estimate
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US initial jobless claims 218K vs 210k estimate
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US November advance goods trade balance -90.27 billion vs -89.56 billion prior
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