PREVIOUS TRADING DAY EVENTS 28 December 2023

In very thin trading European stock markets closed largely lower with the France CAC 0.48 the worst and the UK FTSE 100 0.03 the best. The USD recovered a tad which pushed EURUSD south of 1.1100 to close at 1.1060. Cable closed back at 1.2730 and the US Dollar Index closed over 101.00 at 101.27. Yield on 10year Treasuries recovered too, up 1.60 to 3.85 and above the 5month low printed on Tuesday.
Yesterdays data saw the Weekly Unemployment Claims miss significantly at 218K the highest in 4 weeks versus exceptions of 211K and 206K last time. Pending Home Sales no change, it was expected to tick up 0.8 and Oil Inventories 7.1M vs. 2.7m 2.9m last week, completed the data.
US Stock markets closed largely flat yesterday, the benchmark SP 500 gained 77 points 0.04 to 4783, the Dow gained 53 points and the Nasdaq lost 4 points and closed at 15,095. Gold futures traded as high as 2094 before the cash market closed at 2070. The OIl market continued to ease following the inventory data and USOIL slipped to 71.75 lows, closing the day at 72.00.

Sources httpswww.reuters.commarketsglobalmarketswrapup120231229

Today 29 December Asian and European markets have continued mixed, following the flat handover from Wall Street with FX pairs trading in narrow ranges. The USD is recovering from 5mth lows against most majors and even the 9year low 0.8332 of the  USDCHF proving a support level for now as the pair recovers 0.8400.

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