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 (24.11.2022)

07:44 24 November 2022
  • US indices finished yesterday's trading higher. S&P 500 gained 0.59%, Dow Jones moved 0.28% higher and Nasdaq added 0.99%. Russell 2000 traded 0.17% higher

  • FOMC minutes showed that a number of Fed members sees slowing of rate hikes as appropriate in near future. However, it also noted that some members saw terminal level of rates above market and FOMC projections

  • Minutes release was seen as dovish and led to a jump on equity markets and a drop on USD market

  • Indices from Asia-Pacific trade mostly higher. Nikkei and Kospi gained 1% each, S&P/ASX 200 added 0.1% and Nifty 50 traded 0.6% higher. Chinese equities underperformed with most of the major Chinese indices trading lower

  • DAX futures point to a slightly higher opening of the European cash session

  • China reported 29,754 new Covid cases - the highest official count since the start of the pandemic. More Chinese cities prepare mass testing and imposes movement restrictions

  • BoC Governor Macklem said that there is a risk that inflation in Canada becomes entrenched. He also said that tightening will come to an end but BoC is not there yet

  • Bloomberg reports that People's Bank of China may decide to cut reserve requirement ratio. ING sees possibility of such a move in the next few days

  • Moody's lowered outlook for Chinese banks to 'negative' citing slowing economic growth, pandemic restrictions and property market correction

  • RBNZ Governor Orr said that there were more discussion on '75 bp vs 100 bp hike' than on '50 bp vs 75 bp hike' at the latest meeting

  • Japanese manufacturing PMI dropped from 50.7 to 49.4 in November (exp. 50.9)

  • Cryptocurrencies trade higher today with Bitcoin gaining 1%, Ethereum trading 2.5% higher and Dogecoin adding 2%

  • Oil is trading little changed on the day

  • Gold gains 0.2% on USD weakening but other precious metals fail to catch a bid. Silver trades flat and platinum drops 0.4%

  • AUD and JPY are the best performing major currencies while USD and CAD lag the most

USDJPY deepened declines yesterday following dovish minutes release and the move continues today. The pair broke below 140.00 mark and is now testing support zone ranging around 139.00 handle. 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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