9 January 2023
Core inflation data in Dec. from the Eurozone was recorded to fall to the level of 9.2% (lower than forecasts and the previous period), although core inflation still rose by 5.2% YoY vs the previous 5%.
READ MORE
6 January 2023
The US employment data duo turned out better than expected, namely ADP Nonfarm Employment Change (Dec.) of 235K, higher than the forecast of 150K and the previous period of 182K; while Initial Jobless Claims recorded at 204K and 223K.
READ MORE
4 January 2023
The Federal Reserve December Meeting Minutes implied a trend of interest rate hikes that will still be high for some time to come, as well as job vacancy data on Job Openings and Labor Turnover Survey (JOLTs), which rose by 10.5 million (above the forecast of 10 million); this shows that labor demand remains strong, thereby reducing the possibility that the Fed will put brakes on the rate hikes, let alone cut the FFR. US Treasury yields moved in negative territory, with US10YT closing down 2.21% in Federal Reserve's hawkish tone.
READ MORE
3 January 2023
The Wall Street index is still closed due to the New Year's holiday. Yet, European exchanges started the first day of trading in 2023 quite enthusiastically, up about 1 percent, supported by manufacturing data from Eurozone countries that were in line or better than expected (other than German Manufacturing PMI 47.1, which is lower than the consensus 47.4 but still higher than the previous position of 46.2), raising hopes that the worst economic conditions have passed.
READ MORE
2 January 2023
Wall Street closed out 2022 with its worst performance since 2008, and even the S&P 500 index corrected nearly 20% YTD. Chinese manufacturers' activities shrunk for three consecutive months in December, the fastest decline since the Covid 19 pandemic began three years ago, right after China loosened its zero-Covid policy.
READ MORE
