CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Wall Street crawls higher amid signs of easing inflation

18:59 27 January 2023
  • Highly anticipated data from the US turned out to be more or less in line with expectations
  • Core PCE inflation in December fell to 4.4% y/y (expected: 4.4% y/y; previously: 4.7% y/y), while the headline reading eased to 5.0% y/y y (expected 5.0% y/y; previously: 5.5% y/y)

  • The dollar strengthened against majority of G10 currencies, however the scale of movement is rather limited - EURUSD currency pair fell 0.25% and the GBPUSD dropped 0.12%

  • The main stock indices from the Old Continent finished Friday's session slightly higher as traders restrain themselves from taking too much risk. On the week, the DAX went up 0.6% and the STOXX 600 added 0.8%.

  • Upbeat sentiment prevails on Wall Street - Dow Jones is trading 0.25% higher, whileS&P500 and  Nasdaq rose 0.45% and  1.10% respectively.

  • On the corporate side, American Express soared 12%, after its upbeat earnings and 2023 revenue forecast. Intel plunged 7% after a dismal first-quarter outlook, while Silvergate Capital, the crypto-focused bank, plunged 22% after it suspended dividend payments as its stock has been falling since November.

  • Mixed moods prevail in the cryptocurrency market - Bitcoin is gaining nearly 1%, while Ethereum is trading near the flatline

  • Next week, investors' attention will focus on the decisions of the Fed, ECB and BoE as data from the US labor market. 

  • WTI crude futures reversed earlier gains and dropped over 1.5% to below $80 per barrel on Friday, amid prospects of still strong Russian supply.

  • Oil loadings from Russia's Baltic ports are expected to increase  by 50% from a month earlier in January mostly thanks to strong demand in Asia. Traders noted that Urals and KEBCO crude oil loadings from Ust-Luga over Feb. 1-10 may rise to 1.0 million tonnes from 0.9 million in the plan for the same period of January.

  • Precious metals trade mixed amid higher yields and stronger US dollar. Gold managed to defend crucial support at $1920, while silver failed to break above resistance at $24.00 and pulled back to $23.50 mark.

US100 hit a key resistance at 12,240 points where December 13 high is located. Break higher could lead to an extension of the uptrend towards the next resistance at 12830 points. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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