<ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-stocks-close-near-the-highs-for-the-day-20221223/“>US stocks close near the highs for the day</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/wti-crude-oil-settles-at-7956-20221223/“>WTI crude oil settles at $79.56</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-house-passes-17-trillion-spending-bill-20221223/“>US House passes $1.7 trillion spending bill</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/atlanta-fed-q4-gdpnow-tracker-rises-to-37-from-27-20221223/“>Atlanta Fed Q4 GDPNow tracker rises to +3.7% from +2.7%</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/dallas-fed-trimmed-mean-pce-price-index-34-vs-39-prior-20221223/“>Dallas Fed trimmed mean PCE price index +3.4% vs +3.9% prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/major-european-indices-close-the-day-with-mixed-results-20221223/“>Major European indices close the day with mixed results</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/canada-october-federal-budget-deficit-c190b-vs-c368b-in-oct-2021-20221223/“>Canada October Federal budget deficit C$1.90B vs -C$3.68B in Oct 2021</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/what-are-the-2022-holiday-trading-hours-in-bond-and-stock-markets-20221223/“>What are the 2022 holiday trading hours in bond and stock markets</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-november-new-home-sales-640k-vs-600k-expected-20221223/“>US November new home sales 640K vs 600K expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/michigan-consumer-sentiment-final-for-december-597-versus-591-preliminary-20221223/“>Michigan consumer sentiment final for December 59.7 versus 59.1 preliminary</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-november-pce-core-inflation-47-vs-47-expected-20221223/“>US November PCE core inflation +4.7% vs +4.7% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-durable-goods-for-november-21-versus-06-expected-20221223/“>US durable goods for November -2.1% versus -0.6% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/canadian-october-monthly-gdp-01-vs-01-expected-20221223/“>Canadian October monthly GDP +0.1% vs +0.1% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/technical-analysis/the-nzd-is-the-strongest-and-the-jpy-is-the-weakest-as-the-na-session-begins-20221223/“>The NZD is the strongest and the JPY is the weakest as the NA session begins</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/forexlive-european-fx-news-wrap-dollar-mildly-lower-xmas-awaits-20221223/“>ForexLive European FX news wrap: Dollar mildly lower, Xmas awaits</a></li></ul><p>There was a flurry of data today before markets settled into the holiday week ahead that will have Stock and bond markets closed on Monday in observance of Boxing Day and Christmas and early closes next Friday and on Monday for New Years. The forex market will be open Monday to Friday as is customary, but with the economic schedule light and most traders taking the week off, the activity should be limited. </p><p>For year end flows (tax related), activity must be completed by Wednesday to get under the end of year wire. </p><p>Today the US had durable goods, Core PCE including personal consumption, Michigan consumer confidence and new-home sales.</p><p>Durable goods orders came out mixed. The headline number was weaker than expectations but if you subtracted out the transportation, it wasn’t so bad. Revisions were not so great though.</p><p>PCE headline and core inflation came in about as expected with the core PCE still up 4.7% but down from 5.0% last month. Included in that report is personal income which rose by a greater than expected 0.4% versus 0.3%. But consumption was worse than expected at 0.1% versus 0.2%.. Later in the morning, the Univ. of Michigan final reading came in at 59.7 up from 59.4 the preliminary. Both were higher than last month’s 56.8 reading. The current conditions rose to 59.4 from 58.8 last month. The expectations Index was also higher 59.9 versus 55.6. Inflation one year forward came in at 4.4% versus 4.9% last month. Although lower, it is still above the Federal Reserve’s estimate of 3.1% at the end of 2023.</p><p>In the forex market, the strongest of the majors was the NZD and the AUD. The weakest were the JPY and CHF. THe USD was also weaker today vs most of the major currencies. </p><p>In other markets:</p><ul><li>spot gold is up $5.88 or 0.32% at $1798.04</li><li>spot silver rose to $0.16 or 0.69% at $23.72</li><li>WTI crude oil closed higher by $1.90 at $79.41</li><li>bitcoin was steady and $16,814. It was near mid range of the day’s trading range</li></ul><p>In the US stock market, the major indices worked their way from negative territory to positive terrritory by the close:</p><ul><li>Dow rose 0.53%</li><li>S&P rose 0.59%</li><li>Nasdaq rose 0.21%</li><li>Russell 2000 rose 0.39%</li></ul><p>Let me take this opportunity to wish you all a happy and healthy holiday season. </p><p>Joy to the world….</p>

This article was written by Greg Michalowski at www.forexlive.com.

<p>The major US indices are closing the day higher and near highs for the day. </p><p>At session lows the </p><ul><li>Dow Industrial Average was down -213 points</li><li>S&P index was down -25.37 points</li><li>NASDAQ index was down -114.30 points</li></ul><p>The final numbers for the day are showing:</p><ul><li>Dow industrial average rose 176.42 points or 0.53% at 33203.92</li><li>S&P index rose 22.43 points or 0.59% at 3844.81</li><li>NASDAQ index rose 21.75 points or 0.21% at 10497.87</li><li>Russell 2000 rose 6.845 points or 0.39% at 1760.93</li></ul><p>For the trading week:</p><ul><li>Dow Industrial Average rose 0.86%</li><li>S&P index fell -0.20%</li><li>NASDAQ index fell -2.45%</li><li>Russell 2000 fell -0.14%</li></ul><p>With one week left of trading, the numbers for 2022 are showing:</p><ul><li>Dow Industrial Average down -8.63%</li><li>S&P index down -19.33%</li><li>NASDAQ index down -32.90%</li><li>Russell 2000 down -21.57%</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.

<p>With the day moving toward a close, the stocks are moving off their high levels. The NASDAQ index is now negative on the day. US yields remain higher and near their highest levels. The two year yield is up 6.3 bps at 4.327%. The 10 year yield is at 3.751%, up 8 bps on the day.</p><p>The major stock indices are trading within the low to high ranges from yesterday as traders look toward the holiday weekend. The markets will be closed on Monday in observance of Boxing Day/Christmas (one day later). </p><p>Gold is up $3.34 or 0.19% on the day. </p><p>Bitcoin is steady at $16818 (it as near $16840 at the start of the day). </p>

This article was written by Greg Michalowski at www.forexlive.com.

<p>The price of WTI crude futures are settling at $79.56 . That’s up $2.07 or 2.671%</p><p>Frigid temperatures across most of US are contributing to the move to the upside. The high price today extended back over the $80 level to $80.30. The low price was down at 78.01.</p><p>Looking at the hourly chart, the price moved back above the 38.2% retracement of the move down from the November 7 high. That level comes in at $79.16. </p><p>The rising 100 hour moving average is down at $77.4, and the rising 200 are moving averages at $76.52. Earlier this week, the price tested that 200 hour moving average and found successive buyers against the level. That gave the buyers the go-ahead to push the price to the upside from a technical perspective.</p>

This article was written by Greg Michalowski at www.forexlive.com.

<p>The vote in the House was 225-201 with one Democrat (AOC) voting ’no‘ and 10 Republicans voting ‚yes‘.</p><p>The bill funds the government through next September.</p><p>Gold has had a nice month so far and steadied after yesterday’s slump. All this spending is one day going to be a big tailwind for gold.</p>

This article was written by Adam Button at www.forexlive.com.