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Weekly Market Report

20 Jan 2020

20 January 2020

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The Market Last Week

Global equities ended firmer last week, after the US President, Donald Trump, signed the first phase of the long-anticipated trade deal with China.


UK Markets ended the week in positive territory, amid positive developments surrounding the US-China preliminary trade deal.

UK’s producer price index (PPI) advanced in line with market expectations on a yearly basis in December.

The DCLG house prices increased on an annual basis in November.

The RICS house price balance rose for the first time in seven months in December.

The Rightmove house price index rebounded on a monthly basis in January.

UK’s consumer price inflation slowed to a 3-year low level in December.

Britain’s economy grew at its weakest annual pace in over seven years in November.

According to NIESR, Britain’s economic growth stagnated in the fourth quarter of 2019.

Manufacturing production declined more than market anticipations on a monthly basis in November.

Industrial production slid more-than-expected on a monthly basis in November.

Retail sales unexpectedly dropped for a fifth consecutive month in December.

Britain’s retail price index remained unchanged on a yearly basis in December.




European Markets ended the week on a positive footing, as trade tensions between the US and China eased.

Eurozone’s consumer price inflation rose on an annual basis in November.

Current account surplus in the Eurozone narrowed less than market forecast in November.

In the Eurozone, construction output climbed less than market consensus on a monthly basis in December.

Trade surplus in the Eurozone narrowed more-than-anticipated in November.

Eurozone’s industrial production rose less than market forecast on a monthly basis in November.

Germany’s consumer price index (CPI) rose in line with market expectations on a yearly basis in December.

Germany’s gross domestic product (GDP) advanced in line with market forecast on an annual basis in 2019.




US Markets ended the week in green, following the signing of US-China Phase 1 trade deal and the US-Mexico-Canada (USMCA) Free Trade Agreement.

The US CPI climbed on an annual basis in December.

The monthly budget deficit narrowed more than market expectations in December.

The MBA mortgage applications climbed to its highest level in 11 years in the week ended 10 January 2019.

The NY Empire State manufacturing index jumped more than market expectations in January.

The PPI advanced in line with market forecast on a yearly basis in December.

The NAHB housing market index eased in January.

The Philadelphia Fed manufacturing index climbed to its highest level in eight months in January.

Retail sales increased for the third consecutive month on a monthly basis in December.

Initial jobless claims unexpectedly dropped for the fifth successive week in the week ended 10 January 2020.

Manufacturing production advanced on a monthly basis in December.

Industrial production fell more than market forecast on a monthly basis in December.

Business inventories dropped in November, marking its biggest fall in 2.5 years.

Housing starts climbed to its highest level since October 2016 on a monthly basis in December.

The NFIB small business optimism index dropped in December.

The JOLTS job openings declined in November, recording its biggest drop since August 2015.

The Michigan consumer sentiment index dropped in January.

Building permits declined more than market anticipations on a monthly basis in December.




Asian Markets ended mostly firmer last week, tracking gains in their US counterparts.

Japan’s non-seasonally adjusted current account surplus narrowed less than market forecast in November.

Japan recorded a less-than-expected trade deficit in November.

In Japan, the PPI climbed at par with market forecast on a yearly basis in December.

Japan’s machinery orders unexpectedly rose to a 5-month high level in November.

Industrial production in Japan fell more-than-anticipated on a yearly basis in November.

China’s trade surplus widened less than market expectations in December.

The house price index in China advanced in December.

China’s gross domestic product advanced on a quarterly basis in the fourth quarter of 2019.

Industrial production in China climbed more-than-expected on an annual basis in December.

China’s retail sales increased more than market forecast on a yearly basis in December.

Australia’s home loans increased more than market anticipations in November.

New home sales in Australia dropped on a monthly basis in November.




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Currency Update

The EUR ended lower against the USD last week.
The British Pound ended weaker against the greenback, amid rising expectations of an interest rate cut by the Bank of England.
The US Dollar ended stronger against its major counterparts last week, following upbeat US economic data.


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Fed Beige Book reports modest growth in the US

The US Federal Reserve’s (Fed) latest Beige Book report, indicated that the US economic reported a “modest” growth over the last six weeks of 2019. The Fed stated that employment was steady to rising modestly in most districts, while labour markets remained tight throughout the nation. Further, manufacturing activity was flat, however consumer spending was powering the economic growth. On the outlook front, the Fed expects the near-term outlook to ‘remain modestly favourable’.


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The Week Ahead

Going ahead this week, investors will keep a tab on the European Central Bank’s interest rate decision, consumer confidence index, the Markit manufacturing and services PMI across the Eurozone along with Germany’s PPI for further direction. Also, UK’s ILO unemployment rate, average earnings, public sector net borrowing, the BBA mortgage approvals, the Markit manufacturing and services PMI along with the US MBA mortgage applications, house price index, existing home sales, initial jobless claims, the Markit manufacturing and services PMI will be on investors’ radar.


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