Market Update – December 13 – Markets Await US CPI


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  • The USD Index holds under 105.00, currently at 104.80 as the USD consolidates ahead of today’s CPI data. US Stocks rallied on Monday (Dow the strongest +1.58%). Yields rallied over 1.23% with the  10yr closing at and holds today at 3.611%Asian markets mixed & European FUTS are also lower as Chinese Covid infections continue to rise. Former FTX CEO Bankman-Fried has been in the Bahamas at the “behest of U.S. prosecutors” a day before he was due to testify to Congress. Reuters also reported that Binance is under investigation for possible money laundering and criminal sanctions violations by DOJ, with possible proceedings against executives including CEO Zhao.
  • EUR – rotates over 1.0500 at 1.0560 now, ahead of German ZEW data later and ECB on Thursday.
  • JPY – rallied from 136.50 lows over 137.00 and trades at 137.70 today.
  • GBP – Sterling rallied again to test 1.2300, consistently yesterday, but trades at 1.2285 following mixed UK jobs data and as multiple strikes hit the UK.
  • Stocks – Wall Street rallied yesterday (1.26-1.58%) – US500 +56.18 (+1.43%) 3990, Big movers included MRNA -6.89%, TSLA -6.27%, MSFT +2.89%. FUTS trades at 3997 now.

  • USOil – Rallied over 6% from 12-month+ lows at $70.05 again on Monday to trade at $74.30 now on supply concerns.
  • Gold – Declined to $1780 again, from key support at $1788. 
  • BTC Sentiment woes continue, but talk of “rapid rollout of global crypto standards” led by FSB keeps trades over 17k at 17.1k.

Today UK Unemployment, German ZEW, US CPI, Japanese Tankan.

Biggest FX Mover @ (07:30 GMT) AUDUSD (+0.53%) rallied from lows on Monday at 0.6728 to test 0.6775 today. MAs aligning higher, MACD histogram & signal line negative but rising and testing 0 line. RSI 58.10 & rising, H1 ATR 0.00129, Daily ATR 0.00845.

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Stuart Cowell

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

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With over 25 years experience working for a host of globally recognized organisations in the City of London, Stuart Cowell is a passionate advocate of keeping things simple, doing what is probable and understanding how the news, charts and sentiment work together to provide trading opportunities across all asset classes and all time frames.


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