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 (10.05.2023)

07:12 10 May 2023
  • Indices from Asia-Pacific are volatile today as investors opted to exit risky positions ahead of US CPI data. HKComp CFDs declined by 0.89% to 19,666 points and CHNComp by 1.33% to 6,667 points. 

  • S&P/ASX 200 gains 0.26%, Kospi trades -0.52%% lower and Nifty 50 drops 0.07%. Japanese Index Nikkei declined 0.26% to 29,134 points.

  • DAX futures points to the same opening as yesterday's close at the European markets today. CFD on DAX index is trading at 16,022 points.

  • Discussions between White House officials and Republican leaders regarding the US debt ceiling have been postponed until Friday, following intense and heated deliberations. 

  • Joe Biden said that he is not ruling out a short term debt limit increase.

  • The US CPI data is scheduled to be released today at 01:30 pm BST time, which is probably the most important event today. Figures are expected to be nearly at the same level as one month ago with CPI core at 5.6% and CPI at 5%.

  • The US Trade Representative, Katherine Tai, is scheduled to hold a meeting with the Chinese Commerce Minister in Detroit later this month. Tensions between the US and China are still high. No additional information is available at this time.

  • BoJ Ueda: during the peak of the pandemic in 2020, the Bank of Japan (BOJ) had accumulated unrealized losses of approximately ¥2-3 trillion (equivalent to $18-26 billion at that time) on its holdings of exchange-traded funds (ETFs). The current situation has significantly improved, but it doesn't necessarily imply that the program will come to an end.

  • Negative sentiment on the cryptocurrency market extends with major tokens failing to rebound from recent lows. Bitcoin is on the defensive amid rumors of a possible collapse of Binance. Ethereum dropped 0.2% to $1,840 and BTC is up 0.07% to $27,668. 

  • Energy commodities are trading lower - Brent and WTI trade 0.54% lower while US natural gas prices drop 1.0%

  • Precious metals consolidate at the tops with gold trading above $2,000 per ounce, 0.23% lower and silver at $25.5.

Gold consolidates at the levels above $2,000.

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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