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Market Analysis

December, 2021

  • 3 December 2021 7:37 pm

    November’s ISM Services PMI Jumps To Record Reading

    Headline ISM Service PMI rose to 69.1 in November. The new reading has marked a record-high going back to 1997 when the survey began. The Institute of Supply Management’s headline Services PMI index rose to a fresh record high at 69.1 in November versus forecasts for a modest fall to …

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  • 3 December 2021 7:19 pm

    USD Remains Resilient Despite Disappointing NFP

    US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed’s hawkishness to be a significant offset to …

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  • 3 December 2021 6:58 pm

    USD/CAD Collapses On US NFP Data

    US Nonfarm payrolls report rose by 210000, lower than the expected 550000. Canadian Employment Change increased 5 times as many as estimations while the Unemployment Rate has fallen.USD/CAD threatens to break the 200-hour SMA, that once breached, would send the pair dipping towards 1.2700.During the New York session, the USD/CAD …

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  • 3 December 2021 5:49 pm

    Canada: Economy Adds 153.7K Jobs in November

    The Canadian economy added 153.7K jobs in the month of November, well above expectations for a 35K and a marked acceleration from the 31.2K jobs added in October. 79.9K of these job gains were in full-time employment. Meanwhile, the unemployment rate dropped to 6.0% from 6.7% in October, a significantly …

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  • 3 December 2021 5:38 pm

    US Nonfarm Payrolls Rises in November

    Nonfarm Payrolls (NFP) rose by 210K in November versus the median forecast for a 550K rise, data published by the US Bureau of Labor Statistics showed on Friday. That marked a substantial decline versus the 546K jobs added to the US economy in October.

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  • 3 December 2021 5:14 pm

    Dollar Climbs as Investors Await US Jobs Data

    The dollar rose on Friday against most major currencies, as traders positioned themselves ahead of the release of crucial US jobs data that could pave the way for an early Federal Reserve interest rate hike. The dollar index, which measures the performance of the US currency against six other major …

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  • 3 December 2021 3:49 pm

    Eurozone Retail Sales Rise in October

    Retail Sales

    Eurozone’s Retail Sales rose by 0.2% MoM in October versus 0.2% expected and -0.4% last, the official figures released by Eurostat showed on Friday. Annually, the bloc’s Retail Sales came in at 1.4% in October versus 2.6% recorded in September and 1.2% estimated.

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  • 3 December 2021 2:36 pm

    Market Drivers – Asian Session 3-12-2021

    The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading. Gold futures rose 0.66% to $1,774.30 by 10:48 PM ET (3:48 AM GMT), after falling to their lowest level in nearly …

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  • 3 December 2021 2:00 pm

    UK Final Services PMI Revised Down in November

    The UK services sector activity expanded less than expected in November, the final report from IHS Markit confirmed this Friday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading.

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  • 3 December 2021 1:59 pm

    Gold is Rising But Waiting For The Data

    Gold rose on Friday morning in Asia. However, the yellow metal braced for its third consecutive weekly decline, weighed by signs that the US Federal Reserve will accelerate the pace of reduction in asset purchases and raise interest rates earlier than expected to curb inflationary pressures. Gold futures rose 0.66% …

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  • 3 December 2021 1:03 pm

    Inflation in Turkey Jumps to a 3-Year High as The Lira Tumbles

    Data on Friday showed that inflation in Turkey rose more than expected to 21.31% on an annual basis in November, its highest level in three years, exacerbating the decline in real yields after the unprecedented decline of the lira to its lowest levels ever. The Turkish Statistical Institute said consumer …

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  • 3 December 2021 12:30 pm

    Japan’s Nikkei Reverses Its Trend And Closes Higher

    Japan’s Nikkei index reversed course to close higher on Friday, led by travel and leisure stocks, as investors cashed in on battered stocks amid concerns about the impact of the mutated Omicron strain of the coronavirus. The Nikkei rose 1%, the largest percentage increase in three weeks, to close at …

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  • 3 December 2021 4:41 am

    Wall Street Banks Ponder Crypto-Backed Loans

    Bitcoin

    A number of US banks including Goldman Sachs are considering how to use bitcoin as security for cash loans to institutions.Banks such as Goldman will not touch cryptocurrency spot markets but still tend to synthetic crypto products such as futures. Emulating tri-party repo type arrangements, banks are searching for ways …

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