Daily Market Analysis page 43

Key events: Eurozone – ECB President Lagarde Speaks      USA – Initial Jobless Claims European markets continued their third consecutive day of declines yesterday amid concerns over weak economic data and a tighter inflation outlook, while the U.S. markets also continued their losing streak with…

Key events: Canada – BoC Interest Rate Decision   USA – Crude Oil Inventories The Bank for International Settlements (BIS) is worried about various problems, thereby sparing our local central banks from this excitement. The immediate concern at the BIS is that central banks will have to conduct…

Key events: UK – Construction PMI (Nov) Canada – Ivey PMI (Nov) Australia – RBA Rate Statement      USA – EIA Short-Term Energy Outlook   U.S. stocks fell while bond yields jumped after the release of positive ISM service sector data suggesting that the most important part of the U.S. economy,…

Key events: UK - Composite PMI (Nov)   UK - Services PMI (Nov)   USA - ISM Non-Manufacturing PMI (Nov)   Risk appetite strengthened noticeably last week as investors grew confident that the Fed could curb inflation without plunging the U.S. economy into a deep recession. Fed Chairman Jerome…

Key events: USA – Nonfarm Payrolls (Nov)   USA – Unemployment Rate (Nov)   Canada – Employment Change (Nov) European markets got off to a moderately positive start to the month, hitting 6-month highs, but then pulled back by the close, with the FTSE100 lagging behind, failing to break out the 7,…

Key events: UK – Manufacturing PMI (Nov) USA – Core PCE Price Index (MoM) (Oct) USA – Initial Jobless Claims   USA – ISM Manufacturing PMI (Nov) The U.S. dollar is declining against major currencies in trading Thursday morning after a speech the day before by U.S. Federal Reserve (Fed) Chairman…

Key events: Eurozone – CPI (YoY) (Nov)   USA – ADP Nonfarm Employment Change (Nov) USA – GDP (QoQ) (Q3)    USA – JOLTs Job Openings (Oct) USA – Pending Home Sales (MoM) (Oct)   USA – Crude Oil Inventories   USA – Fed Chair Powell Speaks   Many are wondering today if the U.S. will have a recession…

Key events: Australia – Retail Sales (MoM) (Oct)   Eurozone – ECB President Lagarde Speaks Despite the fact that it was a holiday week in the USA, the Dow Jones index rallied further into new multi-month highs, even topping its previous high of 34,282 on August 16. The S&P and NASDAQ were…

The unprecedented surge in the value of stock assets in 2021 was replaced by a fall amid high inflation and the strengthening of monetary policy by the world's central banks. By way of comparison, here is an example: in 2021, the U.S. broad market index S&P 500 was up 26.9%, in 2022 it fell by…

Key events: Eurozone – ECB Publishes Account of Monetary Policy Meeting   Last night the minutes of the November FOMC meeting were published. The main thing - the US regulator made it clear: there is a willingness to slow down the pace of rate hikes. ​ SPX, DJI, and NASDAQ indices daily chart  …

Key events: UK – Composite PMI    UK – Manufacturing PMI    UK – Services PMI    USA – Building Permits   USA – Core Durable Goods Orders (MoM) (Oct) USA – Initial Jobless Claims USA – New Home Sales (Oct) USA – Crude Oil Inventories USA – FOMC Meeting Minutes     The dollar fell in price against…

Key events: Canada – Core Retail Sales (MoM) (Sep) USA – FOMC Member Bullard Speaks      USA – API Weekly Crude Oil Stock   The past week could be called a parade of inflation indicators. A key parameter now for asset positioning and central bank policy going forward. The Producer Price Index (…