Daily Analysis 29/12/2022

Since it is the last week of the year, it is quiet in terms of data flow. There was no significant data flow announced by Europe yesterday. Therefore, there is no data-based movement in the market. The increasing number of cases after the opening of China is unsettling. A precaution came from the Italian Ministry of Health and the USA in this regard. In both countries, it announced that it imposes a test requirement on passengers from China. This week, the number of cases in China is on the agenda of the markets. Pending home sales in the USA decreased by 4.0% on a monthly basis in November. Weekly unemployment claims in the US are expected to be announced today. There is no important data to be announced in Europe.

We left behind a quiet day in terms of data flow in the UK. On the US side, while pending house sales decreased by 4.0% monthly and 37.8% annually in November, we can say that increasing interest rates brought about a decrease in housing demand. The Richmond Fed manufacturing index, on the other hand, took the value of 1 in December, pointing to a positive course above the -9 value announced last month. After the announced data, increases were seen in the dollar index, while decreases were observed in the parity. Today, weekly unemployment benefits applications will be monitored on the US side, and there is no significant data flow on the UK side.

Risk appetite in global markets is weak. An ounce of gold is trading above the $1800 level this morning. There is no significant data flow announced due to the last week of the year. The impact of the data remains limited on the markets. The absence of speeches from Fed members indicates that there is no Fed-sourced pricing in the markets. Openings have started in China, but the number of cases is increasing. This is making the world uneasy and countries such as Italy and the USA have taken precautions in this regard. He stated that he made testing compulsory for his passengers from China. These developments affect prices this week. Secondary level data will be released in the US today. Its effect may be limited.

The S&P 500 index closed yesterday at 3,784 with an increase of 0.03%. US futures are trading mixed this morning. The risk appetite in the markets is weak. The recent opening news from China supported the risk appetite. However, the increase in the number of cases continues in China. This is an unsettling situation, so countries such as the USA and Italy announced that they have introduced a test requirement for passengers from China. These developments affect prices this week. The impact of the announced US data remains limited. Secondary level data will be tracked in the US today. However, its effect on pricing may not be felt.