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Market Update – November 25 – Record Daily Covid Cases in China Punctures Sentiment

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  • The USD Index Holds at 9-day lows over the key 105.50 At 105.67 Today, after the FED mins Wednesday. US 10-year Yields Lower (-1.39% At 3.66%) Asian Stocks also lower  (Nikkei -0.35%, Hang Seng -0.30%)
    • JPY Tokyo CPI Jumps to 3.8% Starting at 3.5%
    • NZD Retail Sales much better at 0.4% vs -2.3%
    • Germany – Final reading of Q3 GDP It’s not too hard to be at 0.4% vs 0.3% But GfK Attempted to miss -40.2 Expectations of -39.6.
  • Chinese Covid cases reached a new daily record Of 32,695 Local infections are reported every Thursday. There are many cases reported across the country, including in major industrial, commercial, and manufacturing centers.
  • EUR – declined from an 8-day high at 1.0448, back under 1.0400, However, he has since made a comeback. 1.0420.   
  • JPY – eased all the way down to 138.00 zone and a seven-day low, between over 142.20 Monday. The rally today was stopped at 139.00 Now, the pair trades at 138.60. 
  • GBP – Sterling continued to rally on the weaker USD breaking & breaching 121.00 At the top 121.50 yesterday. Holds the 121.00 level today.
  • Stocks – Wall Street closed for Thanksgiving – Open later on Friday for half day trading – US500 +23.68 (+0.59%) 4027 on Wednesday  Trades in FUTS at 4042 now. 

  • USOil – Elevated from 2-mth lows $77.50 To $78.40 now,…



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