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Weekly Market Report

06 Jan 2020

06 January 2020

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The Market Last Week

Global equities ended mostly lower last week, as geopolitical tensions heightened after a US airstrike killed a top Iranian general.


UK Markets ended the week in negative territory, amid escalating tensions in the Middle East.

In the UK, the BBA mortgage approvals rose to its highest level in three years in November.

The manufacturing Purchasing Managers' Index (PMI) contracted at its fastest pace in seven years in December.

The seasonally adjusted Nationwide house prices advanced at par with market anticipations on an annual basis in December.

The number of mortgage approvals for house purchase unexpectedly climbed in November.

The Markit construction PMI unexpectedly declined in December.

Net consumer credit fell more than market expectations in November.

The BRC shop price index fell for the seventh consecutive month in December.




European Markets ended mostly lower last week, amid rising geopolitical tensions in the Middle East.

Eurozone’s Markit manufacturing PMI rose more than market consensus in December.

In the Eurozone, M3 money supply advanced less than market anticipations on an annual basis in November.

In Germany, the Markit manufacturing PMI increased more than market forecast in December.

Germany's unemployment rose more than expected in December

In December, the preliminary consumer price index (CPI) climbed more than market forecast on an annual basis in Germany.




US Markets ended mostly weaker last week, after a US airstrike in Baghdad killed an Iranian military leader, intensifying a long-brewing conflict between the countries.

In the US, goods trade deficit unexpectedly narrowed in November.

US pending home sales rebounded on a monthly basis in November.

The Chicago PMI increased more than market consensus in December.

The housing price index fell more than market forecast on a monthly basis in October.

Initial jobless claims fell on a weekly basis for the week ended 27 December 2019.

The Markit manufacturing PMI fell more than market anticipations in December.

The ISM manufacturing activity index unexpectedly declined in December.

Construction spending advanced more than market expectations on a monthly basis in November.




Asian Markets ended mostly firmer last week, after the US and China agreed on a preliminary deal to end their 17-month long trade war.

In Australia, the Commonwealth Bank manufacturing PMI rose less than market anticipations in December.

In Australia, the AiG performance of manufacturing index rose in December.

Australia’s Commonwealth Bank services PMI increased more than market anticipations in December.

In Japan, the Jibun Bank manufacturing PMI eased in December.

In China, the Markit services PMI dropped in December.

In China, the NBS non-manufacturing PMI fell more than market consensus in December.

In December, the NBS manufacturing PMI remained unchanged in China.




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Currency Update

The EUR ended lower against the USD last week, after Germany’s unemployment rose more than expected in December.
The British Pound ended stronger against the greenback in the previous week.
The US Dollar ended mostly weaker against its major counterparts last week, amid risk aversion.


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FOMC Minutes: Highlights concern over keeping rates low for a long time

The Federal Open Market Committee (FOMC), in its December meeting minutes, indicated that monetary policy was likely to remain appropriate for a time with interest rates likely remain on hold. However, a few members suggested that keeping interest rates low over a long period might encourage excessive risk-taking and could intensify imbalances in the financial sector.


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The Week Ahead

Going ahead this week, investors will keep a tab on the US manufacturing PMI, factory orders, ISM non-manufacturing PMI, the MBA mortgage applications, ADP employment change, initial jobless claims and nonfarm payrolls. Additionally, Eurozone’s producer price index (PPI), manufacturing PMI, CPI and retail sales along with Germany’s factory orders would keep investors on their toes. Moreover, UK’s services and manufacturing PMI will garner significant amount of investors’ attention.


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