Market Talk – Tuesday, Dec. 22

Some economic news from last night:

South Korea:

PPI (MoM) (Oct) decreased from 0.2% to 0.0%

PPI (YoY) (Oct) increased from -0.4% to -0.3%


Retail Sales (MoM) increased from 1.4% to 7.0%


Countries across the globe shut their borders to Britain on Monday due to fears of a highly infectious new coronavirus strain, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union. India, Pakistan, Poland, Spain, Switzerland, Sweden, Russia, Jordan, and Hong Kong suspended travel for Britons after Prime Minister Boris Johnson said a mutated variant of the virus had been identified in the country. Saudi Arabia, Kuwait, and Oman closed their borders completely.

Sweden’s economy will contract less than previously expected this year, the government said in a forecast, but a second wave of the pandemic will crimp the recovery in 2021. Gross domestic product is seen falling 2.9% in 2020, the government said, better than the 4.6% contraction predicted in its September forecast. However, the government cut its forecast for next year to show growth of 3.0% against its previous expectation of a rebound of 4.1%.

The major European stock markets had a green day:

  • CAC 40 increased 73.52 points or 1.36% to 5,466.86
  • FTSE 100 increased 36.84 points or 0.57% to 6,453.16
  • DAX 30 increased 171.81 points or 1.30% to 13,418.11

The major European currency markets had a mixed day today:

  • EURUSD decreased 0.00705 or -0.58% to 1.21687
  • GBPUSD decreased 0.01229 or -0.91% to 1.33320
  • USDCHF increased 0.00367 or 0.41% to 0.88905

Some economic news from Europe today:


Business Investment (QoQ) (Q3) increased from -26.5% to 9.4%

Business Investment (YoY) (Q3) increased from -26.1% to -19.2%

Current Account (Q3) decreased from -2.8B to -15.7B

GDP (QoQ) (Q3) increased from -19.8% to 16.0%

GDP (YoY) (Q3) increased from -21.5% to -8.6%

Public Sector Net Borrowing (Nov) increased from 20.94B to 30.84B

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