- Wall Street indices are trading lower today, with sentiment being pressured by weakness in tech shares. S&P 500 drops 0.8%, Dow Jones trades 0.2% lower, Nasdaq slumps 1.4% and small-cap Russell 2000 plunges 1.6%
- Nvidia drops 6% today as traders trim their positions in the stock amid uncertainty ahead of a highly anticipated fiscal-Q4 earnings report, which is scheduled for release tomorrow after close of the US session
- European stock market indices finished today's trading mixed. German DAX dropped 0.14%, UK FTSE 100 declined 0.12%, Dutch AEX slumped 0.88%. Meanwhile, French CAC40 added 0.34%, Italian FTSE MIB moved 0.08% higher and Spanish IBEX surged 0.94%
- BoE Governor Bailey said he is comfortable with a market interest rate path outlook that includes rate cuts but added that he is unable to say when or by how much rates will be cut. However, Bailey did not rule out cutting rates before inflation hits target
- BoE Deputy Governor Broadbent said that current wage growth and services inflation is double the rate consistent with sustainable CPI inflation
- Russia's deputy prime minister Novak said that Russia intends to be in full compliance with OPEC+ quotas in February
- CAD dropped after Canadian CPI inflation report for January showed headline inflation gauge decelerating from 3.4 to 2.9% YoY (exp. 3.3% YoY)
- People's Bank of China left 1-year lending prime rate unchanged at 3.45% (exp. 3.40%) while lowering 5-year lending prime rate was lowered from 4.20 to 3.95% (exp. 4.10%). This was the biggest cut to the 5-year rate in history
- RBA minutes showed that Australian central bankers discussed raising rates by 25 basis points or leaving them unchanged at the meeting in February
- US leading index dropped 0.4% MoM in January (exp. -0.3% MoM). December's reading was revised lower from -0.1% MoM to -0.2% MoM
- Poland's employment declined 0.2% YoY in January (exp. -0.2% YoY) while wage growth accelerated from 9.6 to 12.8% YoY (exp. 11.2% YoY)
- Gains could be spotted on the cryptocurrencies market earlier today, with Bitcoin testing $53,000 mark and Ethereum testing $3,000 area. However, gains were later erased and now Bitcoin trades 0.7% lower and Ethereum drops 1.2%
- Energy commodities trade mixed - oil drops 1% while US natural gas prices climb 1.5%
- Precious metals benefit from USD weakness - gold gains 0.5%, silver trades 0.4% higher, platinum adds 0.6% and palladium surges 3.2%
- NZD and EUR are the best performing major currencies, while CAD and USD lag the most
US100 dropped to the lowest level since the beginning of February amid weakness in large-cap techs. Source: xStation5
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