PREVIOUS TRADING DAY EVENTS 27 December 2023

The return from the extended Christmas Holiday in Europe saw stocks in the region closing positively. The weaker USD pushed EURUSD north of 1.1100 to 5month highs. Cable closed within pips of 1.2800 and the US Dollar Index closed under 101.00. Yield on 10year Treasuries declined further, down 2.50 to 3.789 which is another new 5month low. 
Yesterdays data was very thin and saw the Richmond Manufacturing Index miss significantly at 11 the lowest since May 23rd and the 15 reading versus exceptions of 4 and 5 last time. 
Stock markets closed positively on Wednesday, the benchmark SP 500 gained  6.83 points 0.14 to 4718, the Dow gained over 111 points and the Nasdaq closed at  15,099. Gold futures traded as high as 2088 before the cash market closed at 2077. The weaker dollar didnt help the OIl market as worries over Red Sea shipments eased and USOIL slipped below the key 75.00 handle, closing the day at 73.70. 

Sources 

httpswww.reuters.combusinessenergyoilpricesriseamidfearsoverescalatingtensionsmiddleeast20231228

Today 28 December Asian and European markets have continued to rally following the positive handover from Wall Street with FX pairs trading in narrow ranges and the USD under continued pressure. With many USD pairs at 5month extremes, the USDCHF has moved even further to lows not seen since the 2015 removal of the EURCHF peg. USDCHF currently trades below 0.8400, a near 9.0 decline from early October.

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