- U.S. indexes are seeing limited volatility today and are trading slightly higher, although data from U.S. unemployment claims came out favorably for the stock market. The US500 gains 0.06%, the US100 is trading flat and the US30 is up 0.15%.
- Indexes in Europe today scored a correction after yesterday's gains. This may have been related to hawkish comments from the ECB, which indicate that rate cuts in 2024 are not a foregone conclusion. The DE30 lost 0.31%, while the CAC40 was down 0.62%.
- Chinese indices rebounded strongly and gained more than 2% today. Chinese indices have been among the world's worst performers all year due to the lack of the expected recovery from the Covid pandemic.
- Nearly 90% of foreign investments in China, most of which opened at the beginning of the year, decided to realize losses. Overseas purchases of Chinese stocks fell to levels not seen in 8 years, and the rebound appears to be due in part to the scale of the sell-off and an expected possible repositioning in the new year
- US jobless claims came in higher than expected. The reading indicated 217,000 versus 210,000 forecast and 206,000 previously. The number of continuing applications turned out to be in line with the consensus. However, the data turned out to be only slightly weaker than expected and supported the narrative around a soft landing and expected Fed policy easing
- Despite a larger-than-expected drop in oil inventories according to the DoE report, crude is extending declines. Brent is trading down more than 2%. Natural gas gains 5% after the EIA report indicated a larger-than-expected drop in inventories, in line with colder weather and temperature forecasts in the US.
- Gold is down today to $2070 per ounce, after earlier testing levels around $2090 per ounce. Gold lost 0.26% today, while on the other hand we had a 1.5% rise in platinum prices.
- The US dollar is one of the strongest currencies today. The dollar index (USDIDX) rebounded from around the psychological support at 100 points and is trading almost 0.4% higher
- Cryptocurrencies are trading down, in anticipation of the all-time record expiration of Bitcoin and Ethereum positions in the Deribit options market. The options expiring tomorrow will be worth about $11 billion, and investors will reopen positions, in anticipation of the SEC's decision on spot ETFs for Bitcoin (January 10, 2024)
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
