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 (12.02.2024)

06:29 12 February 2024
  • Indices in the Asia-Pacific region remain mainly closed in Japan, South Korea and China, among others. Australia's S&P ASX 200 is losing 0.25%. China has begun a two-week New Year's break and for this reason markets will remain closed until 17 February.

  • In the first part of the forex market session, there are no major movements. The New Zealand dollar is one of the weaker currencies, losing 0.2-0.4% against the rest of the currencies.

  • UBS is optimistic about the Australian dollar in 2024, citing several local factors, including commodity prices, which have been resilient despite the still unpromising state of China's economy.

  • RBNZ Governor Orr stated that inflation remains too high, which is why the Reserve Bank of New Zealand recently maintained the cash rate at 5.5%.

  • The Israeli military reported that it rescued two hostages from captivity in Rafah in the Gaza Strip. Meanwhile, Israeli attacks on the southern city killed at least 37 people and injured dozens, local health officials reported.

  • Moody's agency downgraded Israel's debt rating on Friday, warning that the ongoing war in the Gaza Strip and a possible war in the north with Hezbollah could negatively impact Israel's economy.

  • Israel's Finance Minister expressed dissatisfaction on Sunday with Moody's decision to downgrade Israel's credit rating, saying the change is a "political manifesto" that "lacks serious economic foundations."

  • The President of the Federal Reserve Bank of Dallas, Lorie Logan, said on Friday at the end of the day that there is no urgent need to lower interest rates, although "tremendous progress" has been made in reducing inflation. The Bank's head wants confirmation of the sustainability of the inflation decline in upcoming data.

  • There are no major changes in the energy commodities market. Natgas, which is losing more than 2.7%, is again the leader of the declines, and oil is trading unchanged.

  • Over the weekend, the cryptocurrency market continued to rise. Investors' attention was primarily focused on Bitcoin, which once again made the largest gains, rising to two-year highs of around 48,000 USD. Ethereum remains equally high at 2,500 USD.

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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