And just like that, another year has come and gone. This is arguably the last real trading day of the year for the markets and should be a case of wrapping things up after last week's central bank bonanza. The dollar remains in an exposed position after the Fed while stocks remain shaky as late-term yields continue to rise.
Risk issues seem to be developing but the consolation for investors is that we are just about to end the year. Lighter and thinner currents may reduce the pain but at the same time, it is a double-edged sword as it may worsen the underlying sensation. But at least it's the end of the year. There's no point in trying to make sense of things in the next two weeks.
We have to get through today though. And looking to the session ahead, there won't be much on the agenda to influence wider markets. It's a matter of continuing the post-Fed reaction but for big funds, watch out for the ending list of options here.
UK retail sales are the highlight of the calendar and are tipped to show a bounce after a poor start to Q4 here. If the Black Friday sales are not enough to lift retail sales, it would be a very bleak outlook for UK consumer sentiment as we look towards next year.
0700 GMT – German November PPI figures
0700 GMT – November UK retail sales data
1100 GMT – UK December CBI sales report
That's all for the next session. I wish you a great day ahead and good luck with your business! Stay safe out there.
