In the case of Lake Leelanau, Mich., native Roger Schaub, it could have also signaled the unsuccessful end to a miles-long stalk behind one of the biggest bull elk in Michigan.
FX: Broad USD weakness pulled USD/JPY toward 142 and EUR/USD, which has spent this week within 1.09-1.10, toward the upper end of that range. GBP/USD and AUD/USD moved higher while USD/CAD and, in Scandies, especially USD/SEK was under pressure and the latter printed a new year low yesterday. EUR/SEK made a brief visit below 11.10 but ended the US session close to it, while EUR/NOK were relatively stable above 11.30.
This might look a bit flimsy as "Santa rallies" go, but it will mark the eighth straight week of gains for the index - the longest such stretch since late 2017. The longest string of weekly gains ahead of the Santa rally - gains in the week leading into Dec. 25 - was a five-week stretch in 2019. Inflation numbers later on Friday could give this year's Santa rally some extra sparkle, but they are unlikely to materially change the view that the Federal Reserve could cut interest rates down to 3.50-3.75% by the end of next year, from 5.25-5.50% right now.
A look at the day ahead in U.S.
and global markets by Amanda Cooper. It s the last day in the final full week of trading for the
year - not a bad point at which to take stock of what. -December 22, 2023 at 06:00 am EST
- MarketScreener