Headlines:
Markets:
- CHF leads on the day
- European equities little changed; S&P 500 futures down 0.1%
- US 10-year yields down 3 bps to 3.861%
- Gold up 0.5% to $2,055.53
- WTI crude up 1.0% to $74.62
- Bitcoin down 0.7% to $43,720
Things are truly winding down in financial markets now as we approach the Christmas weekend.
Major currencies were subdued for the most part, with the dollar keeping lightly changed overall but set to end the week lower once again. USD/CHF did ease to its lowest level since 2015 as the pair looks to break the July lows of 0.8550-55.
Besides that, there wasn’t much action even with a strong beat on UK retail sales. GBP/USD is slightly higher by 0.2% to 1.2710 but nothing out of the ordinary on the day.
In other markets, bond yields continue to be pinned down while equities look like it is already in holiday mood. That being said, Wall Street is in the hunt to make it eight straight weeks of gains and look to tee up a potential upside break heading into the new year.
But for now, the festive period is going to keep things on ice in all likelihood. I wish everyone the best of holidays and a very Merry Christmas to those celebrating! Have a wonderful weekend. 🙂
