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📆The Week Ahead 17/10/22


  • This last week USDJPY breached 148 reaching its weakest level since 1990, this recent move comes on the back of a still strong dollar which has continued to put pressure on their currencies, similarly JPY has acceded the level of the last BoJ intervention at 145.

  • Markets had a turbulent week, as US CPI data came in slightly above expectations, this release was followed by swings that added up to a 5.55% daily range, the biggest swing since march 2020. This coming week markets will be concentrated on earnings, as many financial companies report earnings this coming week.

  • This last week the US proposed a new set of restrictions on the exports of advanced chips as well as chips making equipment to any Chinese company. These restrictions also included the prohibition of US persons from “supporting” development or manufacture chips, the PHLX Semiconductor index had yet another rough week down 7.86% bringing the total YTD performance to -43%.

  • Over in the UK political turmoil continues to be the main driver in UK yields and the GBP, with many rumors and reports coming out last week eventually leading to the resignation of the Chancellor of the Exchequer, now replaced by Jeremy Hunt, these “U-Turns” have prompted wild swings in UK gilts this last week, with more uncertainty on the horizon this volatility might continue into end of year.

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