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.

Morning wrap (07.12.2023)

06:31 7 December 2023
  • In spite of a higher opening, US indices finished yesterday's trading lower. S&P 500 dropped 0.39%, Dow Jones moved 0.19% lower and Nasdaq slumped 0.58%. Small-cap Russell 2000 traded around 0.2% down
  • Indices from Asia-Pacific traded lower, following a downbeat session on Wall Street. Nikkei slumps 1.8%, Nifty 50 and S&P/ASX 200 drop 0.1% each and Kospi trades 0.2% lower. Indices from China trade little changed
  • DAX futures point to a lower opening of the European cash session today
  • According to unconfirmed media reports, SpaceX is considering offering shares at around $95 per share, valuing the company at $175 billion
  • According to China Securities Journal, there is space for interest rate and reserve requirement ratio cuts in China
  • Bank of America expects Bank of Canada to deliver the first rate cut in June 2024
  • BoJ Governor Ueda warned that Japan's situation will become more challenging in 2024 and that it is important for wages to keep rising and support consumption
  • Chinese exports increased 0.5% YoY in November (exp. -1.1% YoY) while import were 0.6% YoY lower (exp. 3.3% YoY). Trade balance for November came in at $68.39 billion (exp. $58 billion)
  • Australian trade balance for October came in at A$7.13 billion, slightly below expected A$7.48 surplus
  • Cryptocurrencies resumed climb after a brief pause yesterday. Bitcoin trades 0.4% higher, Ethereum gains 1.4% and Dogecoin adds 1%
  • Energy commodities trade mixed - oil gains 0.6% while US natural gas prices drop 1%
  • Precious metals gain in spite of USD strengthening - gold and platinum trade 0.1% higher while palladium rallies 0.7%. Silver is a laggard with 0.2% drop at press time
  • JPY and USD are the best performing major currencies, while NZD and AUD lag the most

Silver continues to pull back. Price has already dropped 8% from an intraday-high reached near $25.90 per ounce on Monday. Source: xStation5

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