PiQ's final European wrap and post (for now).
- German Health Min -Without mandatory vax, don't see us managing further waves in long term
- US MBA mortgage applications w/e -0.6% (Prev. -4.0%)
- US opening news roundup
- South Africa covid data, study suggest 'positive story' on Omicron severity
- China orders 13 million Xi'an residents to stay home over Covid outbreak: officials
- German government makes billions from debt thanks to negative rates
- ECB's Holzmann: In an extreme scenario, rates could be hiked next year.
- Italy's Draghi says govt is ready to keep supporting the economy if it slows again
- A look at how currencies have performed against the US dollar in 2021
- German Q2, 2022 baseload power up 9% at record 251 eur/mwh
- China Evergrande - risk management committee will actively engage with group's creditors
- Turkey's Erdogan says he will not let Turks be crushed under interest rates, inflation
- Fund Manager's exposure to US equity market lowest since May
- European opening bell - millpond vibes
- French Producer Prices MoM for November rise to 3.5% (Prev. 2.9%)
- U.K. government scientists conclude Omicron is milder than Delta
- Russian gas flows via Yamal pipeline run in reverse for the second day
- ECB's Schnabel: We already know inflation will be high for a while, but that it will fall
- UK GDP YoY: 6.8% (Forecast 6.6%, Previous 6.6%)
- Japan Prime Minister Kishida on the wires, talking employment and Sino/US relations
- Russia doesn't booked gas transit capacity for exports via Yamal-Europe pipeline again
- Rudderless early morning markets, and backwards looking UK GDP won't inspire excitement
My pre-Christmas takeover of the ForexLive European desk comes to a close in very sedate market conditions.
Europe equities have gone sideways for much of the session.
:: Dax @ 15445 (flat)
:: FTSE 100 @ 7310 (-0.2%)
U.S. dollar index slipped to 96.31 (-0.13%). With GBP the market leader, trading 1.3310 (+0.35%), boosted by overnight news that there will be no Christmas lockdowns in England and news that U.K. government scientists conclude Omicron is milder than Delta
It's not all been positive news on the virus front though, as China locks down the city of Xi'an (home to 13 million citizens)
On the European energy story, in a repeat of yesterday's news, Russia's Gazprom failed to book any capacity in the Yamal pipe, and Natty, again, flowed in the wrong direction, away from Europe. I can vouch that it's starting to get fecking cold in Europe.
A look at Bonds, FX and metals:
I would just like to say to Adam and the team, thanks for the chance to get involved. And perhaps more importantly, thanks to you guys for listening to me ramble on. I hope I managed to add a bit of value to your trading days.
Have a fantastic Christmas and New Year, and I hope to see you all soon.
Stay safe, and keep it tight!
PiQ
