- European indices finished today's session slightly higher, with DAX and CAC40 rising 0.20% and 0.76%, respectively, led by gains in tech and oil and gas companies. FTSEE 100 added 0.27% as Liz Truss resigned as the UK prime minister after just 45 days on the job.
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US indices pared early gains as hawkish comments from Philadelphia Fed President Harker, overshadowed upbeat quarterly results from IBM, AT&T and American Airlines. Harker said the FED will likely raise interest rates to "well above" 4% this year and then hold them at such restrictive levels to bring down inflation to its 2% target. Adding to sour note, Tesla plunged over 6% after the EV producer delivered mixed quarterly results and cut its vehicle-delivery target.
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Oil is trading slightly higher on news that the Chinese government is considering easing COVID-19 restrictions for visitors, which lifts hopes for increased energy demand in the world's top oil importer.
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Increased volatility prevailed on the forex market today. USDJPY briefly jumped above 150.00 level, for the first time since 1990, reaching a fresh 32-year low. GBPUSD pair rose at one point 1.0% following resignation of PM Truss, however buyers failed to uphold momentum later in the session. Currently AUD and NZD are the best performing major currencies while USD and JPY lag the most.
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Mixed sentiment prevails on the precious metals market today. Gold is top laggard, gaining just 0.15% despite overall USD weakness. Silver, palladium and platinum are performing much better. Platinum prices are appreciating by more than 3.0%.
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The crypto market is currently under moderate downward pressure. The largest projects are trying to stay above the flat line. Bitcoin and Ethereum are losing around 0.5%.
OIL.WTI price rose sharply after yesterday's White House decision to release 15 million barrels of oil from SPR, however buyers failed to break above resistance at $87.40, which coincides with 61.8% Fibonacci retracement of the upward wave launched in December 2021. As a result price pulled back and is testing support zone around $85.50. Source: xStation5
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