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Marketmind: Let's talk about sterling

Friday, January 14, 2022
Marketmind: Let's talk about sterling © Reuters. FILE PHOTO: Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

A look at the day ahead from Dhara Ranasinghe.

Let's take a break from just how quick is the Fed going to slam on the brakes to contain inflation and talk about sterling.

The pound is proving to be one of the best performing major currencies in the early days of 2022. It's trading near its highest levels in over two months above $1.37, thanks to signs the Omicron COVID surge is abating and on expectations that UK interest rates could rise again as soon as February.

Data on Friday shows Britain's economy grew a faster-than-expected 0.9% in November.

Yet, as week draws to an end, there's a question mark over how long the rally will last given rising political uncertainty. Prime Minister Boris Johnson's leadership is in the balance as he faces calls to resign from some in his party over Wednesday's admission that he attended staff drinks during the May 2020 lockdown. Fresh revelations about parties in Downing Street were being reported on Friday.

If the number of bank research notes this week reminding clients of the rules of a potential leadership challenge to Johnson are anything to go by, sterling bulls be warned.

At the Fed, Governor Lael Brainard became the latest and most senior U.S. central banker on Thursday to signal that rates will rise in March to combat inflation.

Asian shares took a beating from rate-hike unease; Japan's Nikkei fell 1.3%. European shares are tipped to open lower although U.S. stock futures are moving up.

U.S. 10-year Treasury yields are slightly higher at 1.73% and the dollar index is near two-month lows -- a sign that tighter policy is already well priced into the greenback now.

December U.S. retail sales numbers out later in the day is the next focus.

Lastly, China Evergrande shares edged up after the world's most indebted developer secured a crucial approval from onshore bondholders to delay payments on one of its bonds as more developers race to avert defaults.

Key developments that should provide more direction to markets on Friday:

- China posted a record trade surplus in December and in 2021

- Germany 2021 GDP

- Riksbank Governor Stefan Ingves

- ECB: President Christine Lagarde

- Fed: Philadelphia President Patrick Harker; New York President John Williams

- US retail sales Dec/industrial production/inventories/University of Michigan survey

- US earnings: BlackRock (NYSE:BLK), JPM, Wells Fargo (NYSE:WFC), Citi Graphic: Sterling off to a solid start to 2022, https://fingfx.thomsonreuters.com/gfx/mkt/xmvjobemgpr/theme1301.PNG

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17-01-2022 11:30:37 (UTC+7)

EUR/USD

1.1407

-0.0007 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

EUR/USD

1.1407

-0.0007 (-0.06%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

GBP/USD

1.3656

-0.0018 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

USD/JPY

114.58

+0.38 (+0.34%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.7212

+0.0006 (+0.08%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (0)

USD/CAD

1.2517

-0.0036 (-0.29%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

130.70

+0.35 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

EUR/CHF

1.0425

-0.0003 (-0.03%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,818.35

+1.85 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (0)

Silver Futures

23.010

+0.092 (+0.40%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Copper Futures

4.4253

+0.0048 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

83.56

+0.26 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Brent Oil Futures

86.30

+0.24 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

4.298

+0.036 (+0.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

239.65

+2.65 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (3)

Euro Stoxx 50

4,304.75

+32.56 (+0.76%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

S&P 500

4,662.85

+3.82 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (2)

DAX

15,937.89

+54.65 (+0.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

FTSE 100

7,608.90

+65.95 (+0.87%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (2)

Hang Seng

24,218.03

-165.29 (-0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,162.80

+1.32 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (6)

IBEX 35

8,841.38

+34.78 (+0.39%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (2)

BASF SE NA O.N.

68.200

+0.090 (+0.13%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Bayer AG NA

52.80

+0.21 (+0.40%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (3)

Allianz SE VNA O.N.

227.00

0.00 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Adidas AG

252.71

+0.36 (+0.14%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Deutsche Lufthansa AG

7.210

-0.031 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Siemens AG Class N

146.53

+0.67 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (3)

Deutsche Bank AG

12.020

+0.066 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

 EUR/USD1.1407↑ Buy
 GBP/USD1.3656↑ Buy
 USD/JPY114.58↑ Sell
 AUD/USD0.7212Buy
 USD/CAD1.2517↑ Sell
 EUR/JPY130.70↑ Buy
 EUR/CHF1.0425↑ Buy
 Gold1,818.35↑ Buy
 Silver23.010↑ Sell
 Copper4.4253↑ Buy
 Crude Oil WTI83.56↑ Buy
 Brent Oil86.30↑ Buy
 Natural Gas4.298↑ Buy
 US Coffee C239.65↑ Buy
 Euro Stoxx 504,304.75Sell
 S&P 5004,662.85↑ Buy
 DAX15,937.89↑ Sell
 FTSE 1007,608.90Buy
 Hang Seng24,218.03↑ Buy
 Small Cap 20002,162.80↑ Sell
 IBEX 358,841.38Neutral
 BASF68.200↑ Sell
 Bayer52.80↑ Buy
 Allianz227.00↑ Buy
 Adidas252.71Buy
 Lufthansa7.210↑ Sell
 Siemens AG146.53Neutral
 Deutsche Bank AG12.020↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,120/ 6,160
(0/ 0) # 1,148
SJC HCM6,110/ 6,170
(10/ 0) # 1,158
SJC Hanoi6,110/ 6,172
(10/ 0) # 1,160
SJC Danang6,110/ 6,172
(10/ 0) # 1,160
SJC Nhatrang6,110/ 6,172
(10/ 0) # 1,160
SJC Cantho6,110/ 6,172
(10/ 0) # 1,160
Cập nhật 17-01-2022 11:30:40
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ↀ Giá vàng thế giới
$1,819.22+2.740.15%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$83.62+0.220.26%
Brent$85.92+0.120.14%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.540,0022.850,00
EUR25.234,8826.649,42
GBP30.246,4531.537,99
JPY192,66203,94
KRW16,5020,10
Cập nhật lúc 18:52:49 17/01/2022
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