Chinese authorities have warned of three successive waves of Covid infections over the coming months, as cases continue to surge after the lifting of restrictions earlier this month. Only 42.3% for people aged 80 and above got the booster.
EUR – up at 1.0640 now & GBP stuck at 1.2160-1.22 area. JPY – extends lower to 135.80, with Yen be the biggest gainer of the day as speculation building that the Bank of Japan, which meets on Monday and Tuesday, is eying a shift in its ultra-dovish stance in future. Elon Musk asked Twitter users to vote Sunday on whether he should step down as head of the social-media platform and pledged to abide by the results. Plus Twitter said it would no longer allow “free promotion of certain social media platforms” like Meta Platforms Inc’s META.O Facebook and Instagram, Mastodon etc. on its sites. Stocks – The JPN225 declined more than -1%. Hang Seng and CSI 300 are down -0.9% and -1.5% respectively. US500 dropped 2% last week (-20% for the year) while today US & European indixes are managing slight gains, US500 rose 0.1%. USOil – drifts to $74.65 Gold – was steady at $1,793 BTC – remained trading below $17,000.Today – There is a heavy calendar ahead as releases are condensed ahead of Christmas on Sunday. Housing reports will highlight as that has been one of the sectors most impacted by the Fed’s tightening. China is expected to deliver a key interest rate decision on Tuesday morning, after keeping the rate steady for three straight months. Japan as well.
Today: Germany Dec .Ifo survey, Eurozone Q3 labour market!
Biggest FX Mover @ (07:30 GMT) USDJPY (-0.59%). MAs aligned lower, MACD histogram & signal line negative and falling. RSI 37 & falling, H1 ATR 0.33, Daily ATR 1.93.
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Andria Pichidi
Market Analyst
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