- According to the FOMC Minutes published at 07:00 pm GMT, bankers were unanimous in their decision to maintain interest rate levels.
- Following the publication of the Minutes, the money market valuation of the further path of interest rates was unchanged. The first full cut is priced for May 2024.
- The US indices limited their daily declines slightly after the publication of the Minutes, but nevertheless recorded sizable declines intraday. The US100 goes below the 16,000 barrier and loses 0.76%.
- European indices ended today's session slightly lower. The Bechmark Euro Stoxx 50 lost 0.24%, the French CAC 40 over 0.24% and the German DAX recorded a marginal decline of -0.01%. The Polish WIG20 recorded relatively large losses, losing 0.42%..
- Today, after the Wall Street session, Nvidia (NVDA.US) will report its third quarter.
- In the broad currency market, the British pound and the Canadian dollar are currently performing best. In contrast, the euro and the Australian dollar are performing much worse.
- Canadian inflation for October is falling, but the m/m readings are coming in relatively high. This does not change the market's attitude - a hike is no longer priced in, but perhaps the market will start to assess a possible cut later.
- US real estate market data on secondary market home sales showed a drop to the lowest level in 13 years, which should be explained by high mortgage rates as well as a low supply of houses.
- During the press conference with the President, Lagarde admonished that the coming months could bring slightly higher core inflation readings and reiterated that if external factors threaten the inflation-fighting process, the ECB could take further action. On the other hand, however, the current level of monetary tightening gives the ECB room to observe the situation and quietly decide on the next steps.
- As the WSJ reported, Binance founder Changpeng Zhao will agree to step down, and the company is also expected to admit wrongdoing and agree to pay a $4.3 billion fine for violating US anti-money laundering requirements, as part of a deal that could preserve the company's ability to continue operating. Bitcoin is losing nearly 1.3% on a daily basis, Ethereum is down 2.25%. Binancecoin is currently losing 5.3%.
- The energy commodities market is sharply divided. Crude oil, of the Brent and WTI varieties, is not experiencing excessive price deviations on an intraday basis. Sentiment is more pronounced in the gas market, where NATGAS is losing more than 1.2% and testing the USD 2.84 zone.
US2000 retreated more than 1% during today's session, nevertheless the key support in the short term for the index remains the zone at 1780 points.
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