Daily Market Insight

• U.S. weekly initial jobless claims rise by less than expected to 216,000 • UK economy was G7 growth laggard in Q3 as dismal 2023 beckons • Thai New Year spending seen at 3-year high as economy rebounds • Oil falls by $1/bbl as rate hike fears outweigh tighter U.S. stockpiles

• U.S. consumer confidence rebounds; existing home sales sink • Soaring energy costs push UK public borrowing to November record • German consumer confidence edges higher again as economy stabilizes • Dollar stabilizes, yen hands back some gains after BOJ shock

• Higher mortgage rates depress U.S. single-family housing starts, building permits • German PPI slumps again in November as energy spike unwinds • BOJ jolts markets in surprise change to yield curve policy • Oil rises past U.S. storm jitters as inventories shrink

• US Homebuilder Sentiment Extends Record Decline to 12 Months • UK factory output and export orders sag in December • Chinese business confidence falls to lowest in almost a decade on COVID • Dollar slips with the yen in demand; BoJ meeting in focus

• U.S. business activity slumps in December; price pressures ease • Euro zone business activity falls at slower rate in Dec, inflation eases • Chinese business confidence lowest in almost a decade • Oil rises on Chinese demand hopes, U.S. SPR replenishment

• U.S. retail sales post biggest drop in 11 months; labor market tight • ECB raises interest rates by 50 basis points and signals further hikes • BoE raises rates again as investors look towards end of hikes • Oil rises, poised to end week higher despite economy concerns

• Fed hikes rates by 50 bp, as expected, keeps hawkish tone • UK inflation falls from 41-year high in run-up to BoE rate decision • Japan’s trade deficit shrinks less than expected in November • Dow ends lower as Fed hikes, signals higher for longer regime

• U.S. CPI fell to 7.1% in November, lower than expected • UK jobless rate rises again but pay growth keeps Bank of England on edge • Japan manufacturers' mood worsens as cost pressures bite • Oil rally stalls on surprise U.S. inventory build, Fed in focus

• U.S. initial jobless claims rise to 230k as continuing claims hit 11-month high • UK labor market loses more momentum in November • China CPI, PPI inflation ease further in Nov amid COVID disruptions • Oil prices rebound from 1-year low, but head for steep weekly losses

• U.S. third-quarter productivity raised; labor costs still running high • Euro zone economic growth revised up with household, business support • Japan upgrades Q3 GDP as global recession, COVID risks linger • Dollar struggles as recession worries simmer