HIGHLIGHTS
January 9 2023
Global Markets
Amid expectations of a less aggressive pace of rate hikes from the Fed in the coming months following Friday’s mixed non-farm payrolls and an unexpected sharp drop in the services ISM index, the DXY USD index lost ground, risk-on sentiment improved and UST yields dropped sharply, ahead of the US inflation report on Thursday.
Greece
According to the Eurostat flash estimate for the inflation rate in December 2022, the annual change of the overall HICP declined for the third month in a row to 7.6% (9.2% in the euro area), from 8.8% in November 2022. In other data releases, the Economic Sentiment Indicator improved to 104.3 in December 2022, from 101.4 in November 2022 (to 95.8 from 94.0 in the euro area).
CESEE
The CPI inflation in Turkey posted a strong deceleration in December, to 64.3%YoY from 84.4%YoY in November, the lowest level of the last 9 months. The significant weakening came mainly from prices in transport (+54.4%YoY vs. +107.0%YoY in November), reflecting lower prices of energy goods globally.
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