Market insights

Market Comment - 20th December 2022

Good morning,

The early hours of the morning say the People's Bank of China and the Bank of Japan release their interest rate decisions. Both came in as expected unchanged at 3.65% and -0.1% respectively. Not much has changed for the Chinese Yuan. However the Japanese Yen has rallied on the back of positive rhetoric in the BoJ press conference.

The next 24 hours is quite Canada centric with their retail sales out later ahead of their inflation numbers out tomorrow.

Overnight there's also the public sector net borrowing numbers for the UK which could well have an affect on Pound rates early doors tomorrow.

However eyes will already be turning towards the UK's GDP numbers out on Thursday. This will qualify if the UK is now in a technical recession.

Business news continues in the same gloomy outlook with charities now feeling the pinch and donations apparently below pre pandemic levels. In the US the focus appears to be on Elon Musk and Twitter where the Chief Twit has put a poll out for the public to decide whether he stays on at Twitter or not.


Today’s Economic Calendar

CAN: 13:30 Retail Sales

UK: Wednesday 07:00 Public Sector Net Borrowing


As ever we look forward to keeping you in the loop and look out for our next update.

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