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Share Market update - January 7th
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Market update - January 7th
Good morning! It’s Tuesday, January 7th, and here’s your quick market recap.
In Japan, the Monetary Base dropped by 1% year-over-year, showing tighter liquidity. Over in the U.K., retail sales grew 3.1%, but housing prices slipped 0.2%, and construction PMI fell to 53.3, indicating a slowdown in growth. Australia’s building approvals dropped sharply by 3.6%, highlighting pressure on the housing sector.
In Europe, inflation data was mixed, with French CPI up 0.2% and Eurozone CPI holding steady at 2.4%. Italy’s unemployment rate improved to 5.7%, but inflation underperformed at 0.1%.
In the U.S., ISM Services PMI beat expectations at 54.1, while JOLTS job openings climbed to 8.1 million. However, the trade deficit widened to $78.2 billion. In Canada, trade and PMI data signaled modest economic growth.
On the commodities and crypto front: Bitcoin is down 1.2%, trading at $27,500. Gold is steady at $1,945, and silver slipped 0.3% to $23.80.
For the DXY, stronger U.S. services and job data provide support, but a wider trade deficit and mixed global data could limit gains. That’s it for today—see you tomorrow!
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By Jayanjan MukherjeeGood morning! It’s Tuesday, January 7th, and here’s your quick market recap.
In Japan, the Monetary Base dropped by 1% year-over-year, showing tighter liquidity. Over in the U.K., retail sales grew 3.1%, but housing prices slipped 0.2%, and construction PMI fell to 53.3, indicating a slowdown in growth. Australia’s building approvals dropped sharply by 3.6%, highlighting pressure on the housing sector.
In Europe, inflation data was mixed, with French CPI up 0.2% and Eurozone CPI holding steady at 2.4%. Italy’s unemployment rate improved to 5.7%, but inflation underperformed at 0.1%.
In the U.S., ISM Services PMI beat expectations at 54.1, while JOLTS job openings climbed to 8.1 million. However, the trade deficit widened to $78.2 billion. In Canada, trade and PMI data signaled modest economic growth.
On the commodities and crypto front: Bitcoin is down 1.2%, trading at $27,500. Gold is steady at $1,945, and silver slipped 0.3% to $23.80.
For the DXY, stronger U.S. services and job data provide support, but a wider trade deficit and mixed global data could limit gains. That’s it for today—see you tomorrow!