- Yesterday's session on Wall Street resulted in gains for most stock indices. The Nasdaq ended the session 0.76% higher, while the S&P500 gained trading 0.21% higher. Moderate declines (-0.33%), however, were recorded by the Dow Jones index.
- A number of Chinese banks, including the Industrial and Commercial Bank of China and the Agricultural Bank of China, cut mortgage rates today, a move already announced by the Chinese establishment. Interest costs for households are expected to fall by a total of about 150 billion yuan ($21.05 billion) a year.
- In Tokyo, core consumer prices rose 1.8% y/y (1.7% was expected, 2.0% previously), below the BoJ's 2% target for the first time in five months. While the Tokyo data is not authoritative for Japan as a whole, it is a reasonable indication and is considered a leading indicator. The USDJPY pair is nevertheless under downward pressure today, which with their range push the pair to the 151.50 area.
- It is worth keeping an eye on this weekend's general election in Japan, which could end the Liberal Democratic Party's dominance of more than a decade, forcing the ruling party into power-sharing deals.
- Investors' attention will turn today to the release of IFO data from Germany and US durable goods orders. The retail sales reading from Canada is also worth looking at.
- On the currency market, the best performing currency today is the Japanese yen. Antipodean currencies, on the other hand, are trading under more downward pressure.
- Precious metals are losing value this morning. Gold is down 0.3% while silver is losing 0.45%.
- Natural gas gains 0.6% at the start of the last session of the week, while WTI crude oil holds near $70.4 per barrel.
- In the crypto market, we are seeing nearly 1% declines in Bitcoin, which is trading in the $67,500 zone. At the same time, Ethereum is losing nearly 2%.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appHeatmap of the volatility currently observed in the FX market. Source: xStation
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.