On this the last day of the year, here is a quick look at the key market indicators that are signposting the way into 2022:
10 Year US Treasury yields 1.50%
Oil-WTI-$76.02 on hopes that the virus will not hospitalise the numbers feared
Gold-$1817
FTSE at 7403-80 points below the high of 2021
S&P 500 4778-an all time high
USD/JPY 115.05-a move away from safe haven JPY
EUR/USD 1.1305
GBP/USD 1.3505-GBP at a 6 week high
Many things have happened in previous years on this, the last day of the year, but let’s go back to 1968 in honour of The Monkees who released their version of this song written by Neil Diamond, which went to Number 1 and stayed there for 17 weeks- not much else happened pop wise in q1 1969 which is why we remember that fact:
I thought love was only true in fairy tales
Meant for someone else but not for me
Love was out to get me
That’s the way it seemed
Disappointment haunted all of my dreams
Then I saw her face, now I’m a believer
Not a trace of doubt in my mind
I’m in love
I’m a believer, I couldn’t leave her if I tried
I thought love was more or less a giving thing
Seems the more I gave the less I got
What’s the use in tryin’
All you get is pain?
When I needed sunshine, I got rain
Then I saw her face, now I’m a believer
Not a trace of doubt in my mind
I’m in love
I’m a believer, I couldn’t leave her if I tried
Oh
Oh, love was out to get me
Now, that’s the way it seemed
Disappointment haunted all of my dreams
Then I saw her face, now I’m a believer
Not a trace of doubt in my mind
I’m in love
I’m a believer, I couldn’t leave her if I tried
Yes, I saw her face, now I’m a believer
Not a trace of doubt in my mind
Said, I’m a believer, yeah, yeah, yeah, yeah, yeah, yeah (I’m a believer)
Said, I’m a believer, yeah (I’m a believer)
I said, I’m a believer, yeah (I’m a believer)
Have a Great Weekend plus a Very Happy New Year and a Fabulous 2022!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Overrated Rates
Charles Porter
Tue 1 Oct 2024
Overrated Rates The unwinding of USD implied short term interest rates shouldn’t be underestimated. Take a brief look at changes in FX swap pricing over the past few months and you’ll see just how significant those interest rate expectations have proved to be. Particularly within GBPUSD, the difference is enormous. Post-pandemic inflationary pressures affected the […]
Daily Brief – From minutes to CPI
Charles Porter
Thu 10 Oct 2024
From minutes to CPI If you are finding it harder than usual to digest the current financial climate then you are forgiven entirely. Almost intraday, sentiment is flipping between adjectives such as inflationary, deflationary, stagflationary, expansionary and contractionary to describe the same economic phenomena. That is largely being driven by a rapidly changing macro environment […]
Daily Brief – Nonstop flight to nowhere
Charles Porter
Tue 8 Oct 2024
Nonstop flight to nowhere And before you start wondering, no, this brief isn’t about some new route Qantas has launched to propel passengers an inconceivably long distance in one hit. What I refer to in the title of this briefing are the rapidly evolving growth and economic base case projections within the US. The debate […]
