- Wall Street indices trading flat today following a rather mixed Q4 earnings from US banks. S&P 500 and Nasdaq trade flat, while Dow Jones and Russell 2000 drop around 0.3% each
- European stock market indices finished today's trading higher - German DAX gained 0.95%, UK FTSE 100 moved 0.64% higher, French CAC40 jumped 1.05% and FTSE MIB added 0.73%. Polish WIG20 was a laggard with 0.11% gain
- Oil traded higher after US and UK conducted airstrikes on military targets in Yemen, linked to Iran-backed Houthi. US and UK authorities said the strikes were retaliation for recent attacks on commercial ships in the Red Sea
- However, oil has erased all the gains in the second half of the day and now trades lower
- Precious metals gained as US and UK strikes in Yemen boosted safe haven flows and 'dovish' PPI reading for December weakened US dollar
- US PPI inflation accelerated from 0.8% to 1.0% YoY in December (exp. 1.3% YoY), while core inflation decelerated from 2.0% to 1.8% YoY (exp. 1.9% YoY)
- Bitcoin and other cryptocurrencies continued to drop for the second day in a row following SEC approval of Bitcoin spot ETFs. Bitcoin trades around 6% lower on the day
- JPY and NZD are the best performing major currencies, while EUR and GBP lag the most
- US Energy Department informed in a statement that it is soliciting up to 3 million barrels of oil for strategic petroleum reserve
- UK GDP growth reached 0.3% MoM in November (exp. 0.2% MoM). On an annual basis, UK economy expanded 0.2% YoY (exp. 0.1% YoY)
- UK industrial production was 0.1% YoY lower in November (exp. +0.7% YoY)
- Chinese CPI inflation accelerated from -0.5% to -0.3% YoY in December (exp. -0.4% YoY), while PPI inflation improved from -3.0% to -2.7% YoY (exp. -2.6% YoY)
- Final Spanish CPI data for December showed headline price growth decelerating from 3.2% to 3.1% YoY, in-line with flash release
- Final French CPI data for December showed headline inflation accelerating from 3.5% to 3.7% YoY, in-line with flash release
BITCOIN deepens 'sell-the-fact' slump following SEC approval of Bitcoin spot ETF. Coin is trading 6% lower today and tests 200-period moving average (purple line, H4 interval) and the bullish trendline. Source: xStation5
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