The market has well priced in elevated inflation & an all but | kamal

The market has well priced in elevated inflation & an all but assured March rate liftoff, hence taking in stride a record clip in core PPI and the drop in continuing jobless claims, lowest since before the pandemic. US Yields 10-yr lifted 2.0 bp to 1.72% overnight, as hawkish Fedspeak continued to fuel tightening speculation on Fed Brainard's acknowledgment that she too could vote for a March rate hike. China's trade data showed a marked slowdown in both export and import growth. Equities - tightening speculation has put pressure on stocks. GER30 and UK100 are down -0.4%. USA100 dropped -2.5%, JPN225 corrected -1.3%. USOil at 81.68 after 80.75 bottom amid concerns on Chinese fuel demand & whether US gov. will act to cool oil prices. Gold & Silver - best weekly rise since November. Today – Headlining is ECB Lagarde speech and US December retail sales report.

Biggest FX Mover @ (09:30 GMT) AUDJPY (-0.40%) breaks below 20-day SMA at 82.60 (50-DMA). Fast MAs aligned lower, with MACD lines negatively configured.