-
The rising US dollar and higher yields put pressure on the sentiment of investors from the global stock market. The USDIDX index rose by over 0.8%, and the yields of 10-year US Treasury bonds increased by 0.08 to 3.94%.
-
Wall Street indices are trading lower today, with technology company stocks losing the most. In contrast, the medical sector looks excellent, where Pfizer is up 4%, and Moderna is up 14% after a higher recommendation from Oppenheimer analysts.
-
The dollar index (USDIDX) rebounds from a key support level around 100 points. The dynamic rebound makes the USD the strongest currency among the G10 currencies today. The EURUSD rate loses 0.80%, thereby returning below the 1.10 level.
-
US macro data fell below expectations. The final reading of the Manufacturing PMI indicated 47.9 versus the forecast of 48.4 and previously 48.2. Construction spending increased by 0.4% in November compared to the 0.5% expectations and 0.6% previously.
-
Final readings of the manufacturing sector from the eurozone were slightly above forecasts, at 44.4 vs. 44.2 in the first publication. PMI for the manufacturing sector in Germany and France slightly positively surprised.
-
Futures contracts on Chinese benchmarks recorded a decline of over 2.5% today, driven by a lower-than-forecast PMI reading, weak service data, and the lowest factory activity in 6 months.
-
Oil erases gains from the first part of the day and is currently losing 0.50%. The main catalysts for the declines are weaker macro data from the US economy and weaker PMI from China, signaling potentially lower global demand.
-
OPEC+ delegates informed that an additional 'monitoring' meeting will take place at the beginning of February, which markets may interpret as a warning signal before the uncertain situation on the demand side.
-
The world's largest global shipping operator, Maersk, has decided to maintain a ban on passage through the Gulf of Aden and the Red Sea due to repeated attacks by Houthi fighters. As a result, the market expects further increases in freight rates, and Maersk shares rose by 6% today, and ZIM records a 12% increase.
-
The sentiment in the cryptocurrency market is very optimistic, and the gaining US dollar did not prevent Bitcoin from rebounding. Bitcoin is up over 6% today and is trading around USD 45,300, levels last seen in April 2022.
-
Reuters sources indicate that approval for a spot ETF may be accepted even in the coming days (January 3,4). The US regulator must make a final decision regarding the applications of Ark Invest and 21 shares by January 10. So far, SEC representatives have not revealed what the final decision will be.
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.