Daily Market Analysis page 42

Key events:       USA – Pending Home Sales (MoM) (Nov) Many investors were hoping to see at least some semblance of a Christmas rally last week but ended up waiting only for a small purely symbolic pre-holiday rebound. Perhaps that's just to keep things from getting too depressing on Christmas…

Key events:       UK – Christmas Australia – Christmas New Zealand – Christmas Canada – Boxing Day   An important market phenomenon affecting both short- and long-term investors in 2022 was the unfortunate consistency in the dynamics between the S&P 500 and U.S. Treasuries. In the past,…

Key events:       USA - Christmas Canada - Christmas Switzerland - St. Stephen's Day UK - Boxing Day Australia - Boxing Day New Zealand - Boxing Day   The dollar experienced a long period of strength this year but reversed in the fall. While many events influenced this momentum, the Fed's…

Key events:       USA – Core Durable Goods Orders (MoM) (Nov) USA – Core PCE Price Index (MoM) (Nov)   Canada – GDP (MoM) (Oct)   USA – New Home Sales (Nov)   Should we expect another gift from the markets in the form of volatility before Christmas? The past year has been a tumultuous one in…

Key events:       USA – GDP (QoQ) (Q3)   USA – Initial Jobless Claims Markets are unlikely to be affected by the release of any data over the Christmas period, but a bumpy exit from quarantine in China and developments in the energy market could cause global risk sentiment to deteriorate.…

Key events:       USA – Building Permits (Nov)   Canada – Core Retail Sales (MoM) (Oct)   Investors will be watching company reports and macroeconomic data closely this week to see if the Fed's interest-rate hike campaign will cause a recession. Key data, in particular, include the report on…

Key events:       UK – CBI Industrial Trends Orders (Dec) Canada – RMPI (MoM) (Nov) New Zealand – Trade Balance (MoM) (Nov) U.S. stocks declined on Friday, with the S&P down 1%, and a similar decline was seen in Europe as the market continued to digest the hawkish messages from the ECB and…

Key events:       UK – Retail Sales (MoM) (Nov)   UK – Composite PMI    UK – Manufacturing PMI   UK – Services PMI    Eurozone – CPI (YoY) (Nov)   The dollar rallied against all Big Ten currencies on Thursday. This strengthening was very broad-based, with 85 of the 146 currencies tracked by…

Key events:       Switzerland  – Interest Rate Decision (Q4)     Eurozone – EU Leaders Summit      UK – BoE Interest Rate Decision (Dec)     Eurozone – ECB Interest Rate Decision (Dec) USA – Core Retail Sales (MoM) (Nov)   USA – Initial Jobless Claims     Eurozone – ECB President Lagarde Speaks…

Key events:       UK – Average Earnings Index +Bonus (Oct)   UK – Claimant Count Change (Nov) UK – BoE Gov Bailey Speaks      USA – Core CPI (MoM) (Nov)   USA – CPI (YoY) (Nov)   USA – CPI (MoM) (Nov)   We live in a world where inflation plays a major role in the economy, so investors are looking…

Key events:       Eurozone – ECB's Supervisory Board Member Jochnick Speaks      UK – NIESR Monthly GDP Tracker USA – Federal Budget Balance (Nov) Canada – BoC Gov Macklem Speaks      The U.S. market has been under pressure all last week ahead of the Fed meeting, and due to the release of PPI and…

Key events:       USA – PPI (MoM) (Nov)   European markets ended the day lower yesterday as nervousness over the global slowdown was very visible, and the market is in defensive mode ahead of the weekend. In contrast, U.S. markets were able to break a five-day losing streak, ending the session…