2021-12-16 12:56:28
"The economy no longer needs increasing amounts of policy support" – Powell
Inflation “uncomfortably high” – has exceeded 2% target “for some time”
Jobs – “making rapid progress toward maximum employment"
• USD (USDIndex 96.21) rallied to 96.85 & weakened thereafter. Stocks & Yields rallied. Omicron news mixed again.
• US Yields 10yr up to 1.461% & holds.
• Equities - USA500 +75 (+1.63%) breaching key 4700 at 4709 – USA500.F up at 4727.
• USOil – rallied from under $70.00 to $71.41
• Gold sank to $1753 (46 day low) before bouncing to $1785.
• FX markets - EURUSD 1.1310 from 1.1225, USDJPY 114.10 from 114.25, Cable 1.3263 from 1.3170.
Today – SNB, Norges, BoE, ECB, Flash PMIs, US Weekly Claims -
Biggest FX Mover @ (07:30 GMT) GBPJPY (+0.36%) rallied from below 150.00 on Tuesday to 151.70. MAs aligned higher, MACD signal line & histogram higher, RSI 72.30 OB & still rising. H1 ATR 0.225, Daily 1.20.
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