Daily Alert – Tuesday 14th December 2021: End-of-term feeling to markets

Mark NugentDaily Alert, Dec 2021

Daily Alert – Tuesday 14th December 2021: End-of-term feeling to markets

Good morning.

Yesterday’s empty economic calendar allowed Omicron fears to take over. We were solidly risk-off with all indicators in agreement.

Today’s calendar has yielded positive employment data in the UK and an Average Earnings Index of 4.9 percent, beating expectations of 4.6 percent. This is a good number but trailing inflation. There is only API Inventories left on the slate for today.

There is a distinct end-of-term feel around the markets. In addition, we would normally expect things to be quiet in the run-up to the central bank meetings scheduled from Wednesday to Friday.

Having said all that, the Japan225 is set-up nicely for a move up if we see some risk-on sentiment.

We’ll be back tomorrow.

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