Morning wrap (23.11.2023)

9:39 am 23 November 2023

  • US indices finished yesterday's trading higher with S&P 500 gaining 0.41%, Dow Jones moving 0.53% higher and Nasdaq adding 0.46%. Small-cap Russell 2000 gained almost 0.6%
  • Indices from Asia-Pacific traded mixed today - S&P/ASX 200 dropped 0.6%, Kospi gained 0.2%, Nifty 50 traded 0.1% lower and indices from China gained 0.3-0.5%. Stock exchanges in Japan were shut for holiday
  • DAX futures point to a flat opening of the European cash session today
  • OPEC+ meeting has been delayed from November 26 to November 30 amid output disagreements among members
  • According to exit polls, far-right populist Freedom Party has won the most seats in Dutch parliamentary elections. Referendum on EU exit is among Freedom Party's proposals
  • Australian manufacturing PMI dropped from 48.2 to 47.7 in November. Services PMI dropped from 47.9 to 46.3
  • Chinese National Development and Reform Commission said that it will increase regulation in iron ore spot and futures trading
  • Major cryptocurrencies trade slightly lower - Bitcoin drops 0.5%, Ethereum and Dogecoin decline 0.3% while Ripple slides 1.1%
  • Energy commodities pull back - oil trades 0.8% lower, while US natural gas prices drop 1%
  • Precious metals benefit from USD weakness - gold and silver gain 0.3%, platinum adds 0.5% and palladium trades 0.2% higher
  • AUD and NZD are the best performing major currencies, while USD and CHF lag the most

OIL continues to drop after failure to break above the $82.50 resistance zone, marked with 200-session moving average (purple line). Source: xStation5

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