Market Update – December 24 – The Santa Rally arrived

Wall Street’s main indexes posted solid gains for a third straight session on Thursday, with the S&P 500 marking a record-high close, as encouraging developments gave investors more ease about the economic impact of the Omicron coronavirus variant. – RTS

USD (USDIndex 96.00) weakened again and is having its worst week since September.   US stocks rallied again to new highs, Yields also rose; USOilGold both held on to healthy gains. Risk on for Santa as strong US data and good Omicron news lifted sentiment. Asian markets grind higher again.
US Yields 10yr traded closed at  1.4903%,  having breached 1.50%  
EquitiesUSA500 +29 (+0.62%) at 4725 (0.5% above key 4700)  NASDAQ +085%, #TSLA +5.76%  Eli Lilly +2.48%, PFE -1.41% – For the week, the S&P 500 rose +2.3%, the Dow gained about +1.7% and the Nasdaq climbed +3.2%. S&P Futures were up 0.66%. 
USOil – rallied again $73.54, before settling at 73.32
Gold – spiked to $1810 on the weaker USD, and holds at 1808
Bitcoin rallied +4.5% with the risk-on mood, breaching 50k and trades at 51k now
FX marketsEURUSD 1.1325, USDJPY holds up at  114.34, Cable breached  1.3400 and trades at 1.3410 now.

Today Germany closed today & Monday, UK half-day today and closed Monday & Tuesday. US markets closed today, re-open Monday.

Biggest FX Mover @ (07:30 GMT) CADCHF (-0.37%) Rejected rally to 0.7200 yesterday having topped at 0.7180, trades down to 0.7150 now. MAs aligned lower, MACD signal line & histogram lower and now below 0 line. RSI 40.62 and falling, H1 ATR 0.0007 Daily ATR 0.0052.

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Stuart Cowell

Head Market Analyst

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