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Market Update – January 5 – FOMC: Inflation still Public Enemy No. 1

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The Minutes from the FOMC Inflation was still the main concern. Participants agreed that there were upside risks to the inflation outlook. “remained a key factor” For policy. The restriction must be sustained until inflation is under control. “clearly” On a path towards 2% US Data yesterday showed ISM Manufacturing PMI’s missing at 48.4, but Jobs Openings remaining very strong beating expectations at 10.46m. Kashkari Call for 5.4% End rate

  • The USD Index Held 104.00 Yesterday’s USD stability was maintained post FOMC mins. 104.20 now.
  • EUR – back to test 1.0600. Germany November trade balance beats €10.8 billion vs €7.5 billion.
  • JPY – rallied from new 7-mth lows under 130.00 Yesterday 132.50 Now
  • GBP – Sterling rallied 1.2080 Before sinking back into the key 1.2000 today.
  • Stocks – Closed US markets (+0.40-0.76%). US500 -28.03 (0.75%( 3853. TSLA +5.12%, BABA +13%, MSFT -4.37%. 

  • USOil – Tanked 9% Monday, Tuesday$72.75 Lows) and has since recovered 1.1% Today to trade $73.50 Be ahead of inventory later 
  • Gold – Breached $1850 In the early trades, rallied $1860 Trades starting at $1850now 
  • BTC Sentiment woes continue – the biggest coin trades at $16.8k today….



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