- The Washington Post reported yesterday after the Wall Street session that Israel does not intend to attack Iran's oil infrastructure. This led to a clear price pullback yesterday evening, and this movement continued today. Oil prices are down more than 2% today and WTI approached $70 per barrel
- After yesterday's strong increases on Wall Street, a correction is coming today, which is caused by the weakness of the semiconductor sector.
- ASML publishes data a day earlier. The results are good, but the very negative information regarding orders surprises (over 50% less than the previous quarter and significantly less than expected).
- ASML lost as much as 15%, which dragged down companies such as Nvidia and Intel.
- On the other hand, solid bank results caused a rebound in prices in the sector
Bitcoin continued to grow and tested around 68 thousand, amid growing chances of Donald Trump winning the election. Polymarket predicts a 57% probability of Trump winning. The gains on BTC were later neutralized, along with the declines on Wall Street - Trump mentioned that Alphabet's current position is too large and he may lobby for a breakup of the company's business during his potential presidency. What's more, he may cancel US Steel acquisition by Nippon Steel.
- Daly from the Fed indicated that moderate interest rate cuts are reasonable, and the balance sheet may be further limited. After this information, we see the dollar strengthening again and EURUSD falling below 1.0900
- Inflation in Canada falls to 1.6% y/y, with expectations of 1.8% y/y and the previous level of 2.0%. The probability of a 50 basis point cut by the BoC next week is growing
- USDCAD continues strong growth and is quoted at a level above 1.3800 - the highest since late July
- US100 loses over 1.2%, while US500 falls by over 0.7%, which is related to the neutralization of yesterday's gains and the response to hawkish comments
- Employment in the UK falls more than expected at 15 thousand. for September, another factor in favour of further BoE rate cuts
- GBPUSD remains just above 1.30
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.
