Morning wrap (06.10.2022)

7:25 AM October 6, 2022

  • US indices finished yesterday's session lower. S&P 500 fell 0.20%, Dow Jones dropped 0.14% and Nasdaq lost 0.25%. Russell 2000 fell 0.74%.
  • Indices from Asia-Pacific traded higher. Nikkei gained 0.9%, S&P/ASX 200 traded 0.10% higher while Kospi added 1.45%. Markets in China were closed for holidays. 

  • DAX futures point to a higher opening of the European cash session today

  • US plans to ease Venezuela sanctions, enabling Chevron to pump oil, according to WSJ

  • Biden administration said oil output cuts "align OPEC with Russia" and it would explore options with the US Congress on how to reduce cartel influence over energy prices.

  • Russian Deputy PM Novak said Russia may temporarily reduce output in response to a US-led plan to impose a price cap on Russian oil. 

  • Fed's Bostic said, the fight on inflation is still in its early days

  •  London Metal Exchange imposed an immediate ban on new deliveries of copper from Russian firm Ural Mining & Metallurgical Co.

  • Australian Construction PMI for September 46.5 (previous 47.9)

  • Cryptocurrencies are trading higher. Bitcoin rose 1.7%, Ethereum jumped 2.5%  and Ripple gains 2.3%

  • Energy commodities are trading little changed with Brent trading flat near $93.40 per barrel

  • Precious metals are trading slightly higher. Gold rose 0.4% while silver gains over 0.8% 

  • NZD and AUD are the best performing major currencies while JPY and USD lag the most

SILVER pulled back sharply on Wednesday, however sellers failed to break below key support at $20.00 per ounce. As long as price sits above, continuation of the upward move is possible. Source: xStation5

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.

Share:
Back