Market Talk – Wednesday, Jan. 20

The major European currency markets had a mixed day today:

  • EURUSD decreased 0.00318 or -0.26% to 1.21052
  • GBPUSD increased 0.00124 or 0.09% to 1.36562
  • USDCHF increased 0.00133 or 0.15% to 0.88957

Some economic news from Europe today:

UK:

Core CPI (YoY) (Dec) increased from 1.1% to 1.4%

Core CPI MoM (MoM) (Dec) increased from -0.1% to 0.3%

Core PPI Output (YoY) (Dec) increased from 1.0% to 1.2%

Core PPI Output (MoM) (Dec) remain the same at 0.1%

Core RPI (YoY) (Dec) increased from 1.1% to 1.4%

Core RPI (MoM) (Dec) increased from -0.3% to 0.6%

CPI (YoY) (Dec) increased from 0.3% to 0.6%

CPI (MoM) (Dec) increased from -0.1% to 0.3%

CPI, n.s.a (Dec) increased from 108.90 to 109.20

PPI Input (YoY) (Dec) increased from -0.3% to 0.2%

PPI Input (MoM) (Dec) increased from 0.4% to 0.8%

PPI Output (YoY) (Dec) increased from -0.6% to -0.4%

PPI Output (MoM) (Dec) remain the same at 0.3%

RPI (YoY) (Dec) increased from 0.9% to 1.2%

RPI (MoM) (Dec) increased from -0.3% to 0.6%

Germany:

German PPI (MoM) (Dec) increased from 0.2% to 0.8%

German PPI (YoY) (Dec) increased from -0.5% to 0.2%

Euro Zone:

Core CPI (MoM) (Dec) increased from -0.5% to 0.4%

Core CPI (YoY) (Dec) remain the same at 0.2%

CPI (YoY) (Dec) remain the same at -0.3%

CPI (MoM) (Dec) increased from -0.3% to 0.3%

CPI ex Tobacco (MoM) (Dec) increased from -0.4% to 0.3%

CPI ex Tobacco (YoY) (Dec) remain the same at -0.4%

HICP ex Energy & Food (YoY) (Dec) remain the same at 0.4%

HICP ex Energy and Food (MoM) (Dec) increased from -0.4% to 0.3%

US/AMERICAS:

All three major US indexes reached all-time highs this Wednesday amid the transfer of political power. The Dow rose by over 250 points, pushed higher by strong performances from Microsoft (3.65%), Apple (3.29%), and Salesforce (3.08%). After releasing promising earnings, Netflix jumped 16.85% and aided the Nasdaq and S&P 500. Alphabet C (5.34%), Alphabet A (5.36%), and Amazon (4.57%) all made notable performances as well.

Joe Biden became the 46th president of the US today, while Vice President-elect Kamala Harris became the first woman VP. Unlike previous inaugurations, the crowd was limited due to heightened security measured prompted by the Capitol riots. “At this time in this place let’s start afresh. All of us must begin to listen to one another again, to hear one another, see one another, show respect to one another,” President Biden stated in reference to the volatile US election. Although Donald Trump did not attend the inauguration, he wished the Biden administration luck, and thanked his supporters for providing him with “the honor of a lifetime.”

European leaders offered Biden their congratulations this Wednesday after four years of tough negotiations and disagreements with the outgoing administration. British Prime Minister Boris Johnson said he is looking forward to working with Biden and “strengthening the partnership between our countries and working on our shared priorities: from tackling climate change, building back better from the pandemic and strengthening our Transatlantic security.” German President Frank-Walter Steinmeier said he is “relieved” to begin working with a new administration. EU Commission President Ursula von der Leyen bluntly stated, “After four long years, Europe has a friend in the White House.”

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