Wed, Dec 07, 2022 @ 00:05 GMT
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Into US session: Sterling recovers on wage growth, but Canadian stronger

Risk appetite remains generally firm in the global markets today. Asian markets closed broadly higher and strength continues in European session. Mixed economic data from Europe is generally ignored by stock investors. Sentix warned that Eurozone is on threshold of recession as Investor Confidence deteriorated in to -3.3 in June. On the other hand, UK unemployment rate stayed at 44-year low but wage growth accelerated in April.

In the currency markets, Sterling is lifted by wage growth data but Canadian Dollar is even stronger. After all, sluggishness in UK growth could eventually drags down wage growth if Brexit uncertainty is no resolved swiftly. Dollar is following as the third strongest, awaiting PPI. Yen and Swiss Franc are soft on risk appetite, but New Zealand and Australian Dollar are also weak.

In other markets, currently:

  • DOW future is up 126 pts or 0.48%.
  • Gold is down -0.38% as Dollar rises.
  • WTI crude oil is up 1.09%.

In Europe:

  • FTSE is up 0.48%.
  • DAX is up 1.33%.
  • CAC is up 0.80%.
  • German 10-year yield is down -0.0018 to -0.218.

Earlier in Asia:

  • Nikkei rose 0.33%.
  • Hong Kong HSI rose 0.76%.
  • China Shanghai SSE rose 2.58%.
  • Singapore Strait Times rose 0.67%.
  • Japan 10-year JGB yield rose 0.0109 to -0.11.

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