US indices closed up on Thursday lifted by the Banks (+2.82%), Automobiles & Components (+2.4%) and Semiconductors & Semiconductor Equipment (+2.38%) sectors. On the economic data front, the Producer Price Index Final Demand month over month change was flat for November, missing the expected 0.2% rise, down from an increase of 0.4% the month before. Initial Jobless Claims increased to 252K for the week ending December 7th, above the 214K consensus, up from 203K the week before, marking the highest reading since late-2017. Continuing Claims fell to 1667K for the week ending November 30th, better than the 1678K estimate, down from a revised 1698K the prior week. The Bloomberg Consumer Comfort Index released at 62.1 for the week ending December 8th, up from 61.7 last week.
On Friday, economists expect Retail Sales Advance monthly change to rise 0.5% for November, up from a rise of 0.3% the month before. Finally the Import Price Index monthly change is anticipated to increase 0.2%. up from a fall of 0.5% in October.
European markets are expected to start on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against most of its major pairs on Thursday, with the exception of the AUD. On the economic data front, the Producer Price Index Final Demand month over month change was flat for November, missing the expected 0.2% rise, down from an increase of 0.4% the month before. Initial Jobless Claims increased to 252K for the week ending December 7th, above the 214K consensus, up from 203K the week before, marking the highest reading since late-2017. Continuing Claims fell to 1667K for the week ending November 30th, better than the 1678K estimate, down from a revised 1698K the prior week. The Bloomberg Consumer Comfort Index released at 62.1 for the week ending December 8th, up from 61.7 last week. On Friday, economists expect Retail Sales Advance monthly change to rise 0.5% for November, up from a rise of 0.3% the month before. Finally the Import Price Index monthly change is anticipated to increase 0.2%. up from a fall of 0.5% in October.
The Euro was bearish against most of its major pairs with the exception of the CHF, GBP and JPY. In Europe, the European Central Bank held its interest rates unchanged. The institution expects for 2022 Inflation Rate of 1.6% and Gross Domestic Product growth of 1.4%. On the statistic front, The European Commission reported the Eurozone’s October Industrial Production at -0.5% on month (as expected). The German Federal Statistical Office released the final readings of November Consumer Price Index at +1.1% on year (as expected). France’s INSEE reported final readings of November Consumer Price Index at +1.0% (as expected).
The Australian dollar was bullish against all of its major pairs.<\/p>\n\n\n\n