Major US bank earnings prove largely resilient, but warnings of possible credit pressures send the S&P 500 lower on Friday as banks bolster cash reserves

The Euro’s 6-week winning streak came to an end. But, disappointing US hourly earnings and ISM services data sets a sour tone for key CPI data next. EUR/USD may rise.

The US Dollar posed a bullish breakout from the three-week range but aggressively snapped back after a disappointing PMI release, highlighting growing impact from the Fed’s rate hike strategy.

Sterling remains vulnerable as companies issue trading warning for 2023. Trade unions continue with strikes and government plans to cut energy relief for corporates

Depending on what benchmark ‘risk’ asset you refer to you, it could seem that the fundamental outlook for the global markets was encouraging – borderline exceptional. The reality is higher rates, probable recession and other issues that follow. So what to make of the S&P 500’s hold, FTSE 100’s proximity to records and Hang Seng’s surge?

Colder weather tests Europe’s resolve as gas storage gets drawn lower, lifting EU gas prices. ECB and other major central bank’s decide on final rate hikes of 2022

Gold prices ended the week flat as bulls struggled to gain momentum above 1800. With silver extending recent gains, psychological resistance remains intact.

The Japanese Yen has held firm against major counterparts as the safe-haven currency stabilizes around technical levels. USD/JPY, EUR/JPY, GBP/JPY price action.

Gold and silver have both benefitted from a weaker dollar but silver is the standout of the two metals. Gold consolidating at stern resistance, silver continues higher

Next week the RBNZ decides to hike by 50 or 75 bps where forward guidance remains key. Stubborn inflation and a worsening global outlook complicates the decision