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Market Update – December 9 – Stocks Recover, USD Weaker, PPI Data Ahead


  • The USD Index It is at 104.55 For the third day in succession. Wall Street bounced back With the US500 +0.75% (3963) gain breaking a string of five straight losses. Treasury yields rose The following is slightly modified deceleration in unit labour costs & rise in jobless claims. However, the 2/10yr yields are still shouting Recession – the curve remains -83bps. China Confirms Weak activity Once again (Nov. -0.2% m/m 0.1% m/m). UK regulators fine Santander £107mn for Anti-Money Laundering Failures
  • The US will levy China and Russia are facing new sanctions
  • EUR – retests 1.0600 USD weakness and USD trades 1.0575 now.
  • JPY – slight pull back over 136.00, To 136.30 From 135.80 lows.
  • GBP – Holds over 1.2200, Trades and other information at 1.2260. Monday’s high touched 1.2345. The UK Chancellor Hunt is to announce plans to relax regulation for UK’s financial services sector, rolling back 2008 rules.  
  • Stocks – The rally was helped by dip buying and short covering. This sentiment is accompanied by signs that China is taking steps to reduce covid restrictions. JPN225 surged 1.2% Hang Seng Index rose by 1.6% as China’s Premier stated that the shift in COVID policy would allow the economy to pick up pace. The US100 The summit 1.13% And the US30 It was up 0.55%, while…

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