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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 Immediately follow the deceleration in unit labour costs & rise in jobless claims. However, the 2/10yr yields are still shouting Recession – the curve remains -83bps. China This confirms Weak activity Again (Nov. -0.2% m/m 0.1% m/m). UK regulators fine Santander £107mFailures in anti-money laundering investigations are marked with a n
  • The US is preparing to levy New sanctions were imposed on Russia and China.
  • EUR – retests 1.0600 USD weakness and USD trading at 1.0575 now.
  • JPY – slight pull back over 136.00, To 136.30 From 135.80 lows.
  • GBP – 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 – Short covering and dip buying helped to support the rally and sentiment, as well as signs China is making progress in easing 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 Climbing 1.13% The US30 It was up 0.55%, while…

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