In mid-December, the Japanese firm announced that it was buying U.S. Steel for $14.9 billion. U.S. Steel makes about 12% of American steel.

The S&P 500 – a stone’s throw away from a fresh high – has gone sideways the past two weeks at just under 4800. Thursday’s CPI-induced selloff was bought.

The UK economy expanded by 0.3% in November. It had contracted by 0.3% in the previous month. The country’s trade deficit narrowed to 14.1 billion pounds.

Ultimately, the S&P 500 has experienced significant volatility in response to the CPI data, with a resistance barrier at 4,800. Support at 4,700 is crucial, and a consolidation phase may ensue. 

Despite a higher-than-expected current account deficit in November, amid a wider primary income deficit, the improvement in the external imbalance on a 12-month rolling basis continued.

Let’s tune into a White House Statement on inflation to discuss what’s real and what is imaginary.

Heightened geopolitical risks in the Middle East sent crude oil prices up more than 3% after Iran seized an oil tanker off the coast of Oman.

The price of gold was in retreat this week until yesterday at the 2013$ level. The price of silver yesterday fell to a new January low at $22.46.

Technology stocks have continued to grow but at a much slower pace than in the previous cycle 2011-2022.

EUR/GBP faces challenges on improved production data from the United Kingdom. UK Manufacturing Output MoM rose by 0.4%. While Manufacturing Production YoY increased by 1.3% in November.

At the end of the day, the recent natural gas market movements have been driven by the anticipation of the winter storm and its impact on demand.

Indian share markets are trading on a positive note with the Sensex higher by 339 points.

On Thursday, we were struggling to reconcile aggressive Dollar selling ahead of the US CPI data.

Rate expectations were not moved by slightly hotter-than-expected US CPI, and support for the dollar has mostly come through the risk-sentiment channel.