Financial Markets Daily Report 09 December 2022
Investors continued to err on the side of caution during a session with mixed results on Thursday. The key focus remained the outlook for global growth and inflation and the implications for monetary policy decisions.
- Investors continued to err on the side of caution during a session with mixed results on Thursday. The key focus remained the outlook for global growth and inflation and the implications for monetary policy decisions.
- On the data front, new jobless claims in the US rose modestly in the previous week (from 226k to 230k), pointing to some easing in labour market conditions ahead of the Fed meeting next week. Equity prices rose notably in the US, recovering some of the losses of recent days. By contrast, stock indices in Europe closed with mixed results.
- Elsewhere, oil prices continued to edge down to reach the lowest level since the start of the year, as investors were still digesting the slump in trade data in China. In addition, the EUR continued to recover against the USD.
- Today, the key data releases include consumer confidence and PPI inflation for November in the US. Earlier this morning, data showed CPI inflation eased from 2.1% y/y to 1.6% in November in China.