Daily Market Bulletin – December 14 2021
Market Developments
Investors appeared cautious as they monitor the spread of the Omicron variant, with the UK announcing its first omicron death yesterday.
The Asian Development Bank downgraded its growth forecast for China, to 8% in 2021 (from 8.1%) and to 5.0% in 2022 (from 5.1%).
Japanese Industrial Production strengthened 1.8% m/m, compared to +1.1% m/m prior.
Yesterday, OPEC maintained its 2021 and 2022 world oil demand outlook, while raising it for Q1 2022.
Main Asia-Pacific stock markets were mostly downbeat, the US Dollar and the JPY Index attracted flows, whereas main Commodity Currencies (AUD, NZD, CAD) retreat against the greenback.
Instruments Snapshot
EUR/USD is soft below 1.1300, following yesterday's decline.
GBP/USD extends Monday's losses, testing 1.3200.
USD/JPY shows indecision around 113.50.
USD/CAD enters its 4th straight profitable day, surpassing 1.2800.
AUD/USD extends yesterday's losses and probes 0.7100.
NZD/USD is on the back foot and sets new 2021 low (0.6734).
GER30 is soft, but tries to hold 15,600.
USOIL is looking for directions around $71.00.
XAU/USD is mixed above 1,785.
Economic Calendar Picks (GMT)
UK Employment stats are due shortly (07:00), with investors then turning to Eurozone Industrial production (10:00) and US Producer price Index (13:30).
Overnight, focus shifts to China's Industrial Production and Retail Sales (02:00).
See the economic calendar here
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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