CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. 76% 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.

Morning Wrap (06.01.2023)

07:36 6 January 2023
  • US markets turned lower on Thursday with the Dow losing 1.02%, S&P500 declining 1.16% and Nasdaq suffering another steep decline, this time of 1.47%
  • This remains in start contrast with the European and the Chinese equity markets that remain buoyant this year – yesterday both the DE30 and CHNComp saw just a minor hesitation and today DE30 is already recovering, while CHNComp is modestly down
  • The news flow remains supportive in Europe on the inflation front, after better data from Germany and France, yesterday we had lower inflation in Italy (11.6%) and lower PPI inflation in the EMU (27.1% vs 27.7% expected, data for November), mostly on lower energy prices
  • Meanwhile in the US the data remains troublesome: while the activity is slowing down (PMI services down to 44.7 points and lower trade numbers), labour market remains strong with ADP at +235k (150 expected) and claims at 204k (230k expected)
  • The message from the Fed remains far from soothing as well – James Bullard said yesterday that rates were still not as restrictive as necessary and any discussion on inflation target change would be  “very wrong”        
  • Tesla slashed prices in China for the second time in 3 months in a move that may raise concerns about the demand for its vehicles – stock prices remain close to the lowest point since mid-2020
  • AUD is the strongest while JPY is the weakest on the NFP day (1:30 GMT) as some smaller markets are closed due to the Epiphany

DE30 ignores Wall Street weakness and climbs towards the resistance zone that was rejected late in 2022

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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