December 5, 2022

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European indices end the session with mixed results. Spain and Italy lower.

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German Dax higher

The major European indices are ending the session with mixed results. Spain and Italy tilt more to the downside.

The provisional closes are showing:

  • German DAX, +0.4%
  • France’s CAC, +0.4%
  • UK’s FTSE 100, +0.3%
  • Spain’s Ibex, -0.5%
  • Italy’s FTSE MIB, unchanged

In the European debt market, the benchmark 10 year yields are closing higher:

German Dax higher_ In other markets as European/London traders look to exit:
  • Spot gold is trading down $5.60 or -0.3% at $1860.61. 
  • Spot silver is down $0.29 or -1.08% $27.55
  • WTI crude oil futures are trading up $0.87 or 1.23% at $71.74. The price reached a new cycle high, and the highest level going back to October 2018 at $72.03
  • Bitcoin is trading up $101 at $39,945

In the forex market, the CHF is the strongest of the majors. The AUD is now the weakest. The USD which was the strongest at the start of the New York session, has slipped back in the rankings and is now lower verse the CHF and the EUR (marginally). The pair is also unchanged verse the JPY which remains in a very narrow range.

The US dollar is weaker from the start of the New York session

In the US debt market, the yields are marginally higher and off their highest levels. The benchmark 10 year yield is just below the 1.50% level at 1.499%. It reached up to 1.511% before rotating marginally to the downside.

US yields are higher

A day after the S&P and NASDAQ index both closed at record levels, they each are down on the day with the NASDAQ leading the way to the downside.

  • S&P index -13.43 points or -0.32% at 4241.70
  • NASDAQ index -98.32 points or -0.69% at 14075.69
  • Dow industrial average -172 points or -0.50% at 34223

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