#edgeforex #trading #market #stocks #evergrande #beijing #money #usd #gold #forex #china #france #crypto #cryptocurrencies #usd #seasonality #december #law #bill #bitcoin evergrande

China 

China’s regulators have audited Evergrande and determined that no fire sale or bailout is required at this time. 

According to a Reuters article, Chinese officials are looking into Evergrande and its chairman, Hui Ka Yan’s holdings, although no fire sale is expected for the time being. 

Beijing’s control over the situation is reaffirmed by the audit. As a result, authorities can determine if a state-owned rescue is required. But, for the time being, that does not appear to be the case. 

“Right now, there’s no urgency to introduce any disposal plans,” a person close to the regulators said. 

That is alluding to the prospect of Evergrande’s enterprises being sold. Meanwhile, according to a second source, if local governments interfere, they would only acquire a portion of Evergrande’s holdings.

UK

• Rate futures now show a 61 percent chance of the BOE hiking rates tomorrow, up from below 50 percent before the hot UK CPI report earlier this week. 
•  It’s still a fine line. Rate futures now show a 61 percent chance of the BOE hiking rates tomorrow, up from below 50 percent before the hot UK CPI report earlier this week. According to the figures, UK inflation is at its highest level since 2011, putting a lot of pressure on policymakers ahead of tomorrow’s crucial decision. Even if the probabilities are now tilting more in favour of a rate rise, choice is still 50-50. The BOE’s main issue right now is that they need to account for omicron developments as well. Given the circumstances in the United Kingdom, there is a strong argument to be made for a slowdown in economic activity.
•  As a result, if the economy is stalling, a rate rise might exacerbate the situation. This is almost definitely not their final rate rise in the fight against inflation. That puts the BOE in an extremely difficult position. Last month, they caused a stir in the markets.

Europe 

The market sentiment is still relatively hesitant as a whole, with European stocks mixed at the open. 

Eurostoxx +0.3%; DAX +0.4%; CAC 40 +0.4%; FTSE -0.1%; IBEX -0.5%; UK FTSE -0.1%; Spain IBEX -0.5% 

Although there is some modest optimism, the general tone is more cautious. Keep in mind that European equities will shut today before the FOMC meeting, so the mood following the meeting will have an impact on the opening of tomorrow’s session. 

For the time being, markets are calmer, and US futures are also slightly higher. Futures on the S&P 500, Nasdaq, and Dow are all up 0.1 percent.

Spain will compete in the final in November.

Latest statistics issued by the National Statistics Institute – 15 December 2021.

CPI +5.5% versus +5.6% y/y prelim Despite a small downward correction, Spain’s inflation rate is still the highest in 29 years. That will only add to the strain on the ECB’s ‘transitory’ narrative as the year draws to a close.

November’s final in France.

CPI +2.8 percent vs +2.8 percent y/y prelim.

HICP +3.4 percent vs +3.4 percent y/y prelim.

Latest data issued by INSEE – 15 December 2021 

There are no adjustments to the earlier forecasts because this only confirms the French economy’s growing pricing pressures. This represents a common attitude in the region as the year draws to a close. Core inflation is expected to rise to 1.7 percent y/y in November, up from 1.4 percent y/y in October.

US 

November’s final in France • CPI +2.8 percent vs +2.8 percent y/y prelim • HICP +3.4 percent vs +3.4 percent y/y prelim • Latest data issued by INSEE – 15 December 2021 

There are no adjustments to the earlier forecasts because this only confirms the French economy’s growing pricing pressures. This represents a common attitude in the region as the year draws to a close. Core inflation is expected to rise to 1.7 percent y/y in November, up from 1.4 percent y/y in October.

Japan

In October, the Tertiary Industry Index in Japan increased by 1.5 percent (vs. exp 1.2 percent & prior 0.5 percent ) 

This economic indicator is a leading indicator for the health of the Japanese economy since it evaluates the total value of services acquired by Japanese firms over the course of a month. 

The yen isn’t generally a mover, and it certainly isn’t today. 

The USD/JPY is now trading at about 113.75, with little movement in the session.