Italian consumer confidence, US PCE price index, personal income


The US dollar has traded weaker overall against other major currencies as well as many emerging market currencies, with pairs like USD / MXN and USD / ZAR trading at the bottom. decrease.

The Turkish lira (TRY) continues to appreciate following announcements made earlier this week by the country’s president, intended to reassure both investors and local businesses. On Thursday morning, USD / TRY was trading nearly 29% below Friday’s closing rate. Since the beginning of November, however, the USD / TRY rate is still up 23% even after the sharp drop recorded during this week.

In the crypto markets sentiment was a bit mixed with major coins like Bitcoin reversing below $ 49,000 and Ethereum falling below $ 4,000, while solid gains were seen among others. altcoins like Cardano and Ripple. The total crypto market cap has historically hovered around the $ 2.4 trillion mark.

Major stock indexes around the world traded at an overwhelming rise, even markets like the Japan 225 and China A50 eventually turned higher, while the VIX volatility index continued to decline from the recent high. .

Thursday, the last full trading day before the Christmas holidays, is expected to include a number of important fundamental data releases, particularly from the United States, where monthly data on personal income, consumer spending, index of Core PCE prices, durable goods orders and new home sales can be expected.

EUR / USD

As the greenback weakened the EUR / USD pair traded higher again, while on Thursday morning positive sentiment continued to push the rate higher for the fourth consecutive trading day and then recovered. completely from last Friday’s drop.

Rising inflation rates are still seen in many producer price indices (PPIs) of many countries, such as the French or November PPI, which showed annual growth of 17.4%. German import and export price data indicated that inflation was particularly driven by higher import prices, which rose 24.7% from November 2020, while export prices were up 9.9%.

Spanish GDP data and Italian business confidence indicators can be expected on Thursday.

WTI Oil

Oil stabilized sharply on the upside for the second day in a row, recovering sharply from a weak start to the week and clearly on track to end the current week in the green.

Prices were relatively stable when weekly inventories were announced by the Energy Information Administration (EIA), whose figures show another drawdown on crude oil inventories of 4.7 million barrels. However, at the same time, gasoline inventories increased by 5.5 million barrels.

The US weekly Baker Hughes Oil Rig Count can be expected this week on Thursday. Although there has been a steady upturn in recent months in terms of oil rig operations, the total number is still far below pre-pandemic levels, as last week 475 rigs oil companies were reported to be in operation and by the end of 2019 the number stood at 677.

WTI Oil

500 United States

Major stock indexes like the US 500 closed sharply higher for the second consecutive trading day on Wednesday, with the market starting to rise around the time the US trading session began. Real GDP for the third quarter was revised up to 2.3% growth, while consumer confidence as published by the Conference Board improved from 109.5 to 115.8.

Moderna shares (-6.33%) once again underperformed lower for the third day in a row this week, while other companies involved in the COVID vaccine industry like BioNTech (-4.23%) and Novavax (-4.23%) also fell. Overall, the biotech sector (US Biotech ETF -0.12%) was one of the few underperformers in the market clearly in recovery mode.

Tesla (+ 7.61%) was by far the best-performing component of the S&P 500 and NASDAQ composite indices on Wednesday, with the stock price rapidly returning to levels seen about two weeks ago. A key factor could have been the statement by the CEO of the company that he has almost finished selling the shares of the company, which amounted to more than 13 million shares sold in the last month.

500 United States


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