Market Updates at a Glance 01/7/22 (Friday)
☛Fears of Hard landing remain the Market Theme. Investors Recoiled from Risky asset

➤US stocks finished lower on Thursday with VIX (fear index) 29, Dow 30,775 -0.82%, S&P 3785 -0.88% & Nasdaq 11,028-1.33%. Atalanta Fed’s GDP Now sees -1.0% for Q2, following the downwardly revised -1.6% in Q1. The core PCE slowed down for a third month to 4.7% YoY with weak personal spending below expectations at 0.2% m/m vs. 0.4% (estimate). The weak US figures keeping investors worried about the hard landing and create a negative environment for risk assets.

➤The US dollar index eased to 104.74 (-0.3%) as the 10-year Treasury yield dropped toward 3.017% & below 3% as of writing. EUR & GBP ended higher against the greenback, with EUR gained +0.39% to 1.0482, after erasing the intraday loss from two-week low., while GBP reversed the previous day's loss to 1.2178. Eurozone unemployment rate fell to a record low 6.6% in May vs. 6.8% (estimate).

➤Oil (Brent) retreated to below $110 (-5.5%) despite OPEC+ sticking with the current output plan. Gold continued lower to $1807 (-0.59%).

➤BTC was little changed near $20,000, ETH at $1070, XRP near $0.33.

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