CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% 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. 81% 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 (25.01.2023)

06:50 25 January 2023
  • US indices finished yesterday's trading mostly lower. S&P 500 dropped 0.07%, Nasdaq and Russell 2000 moved 0.27% lower each while Dow Jones added 0.31%

  • Indices from Asia Pacific traded mixed today - Nikkei gained 0.3%, S&P/ASX 200 dropped 0.3%, Kospi rallied 1.3% while Nifty 50 plunged 1.2%

  • DAX futures point to a more or less flat opening of the European cash session today

  • New Zealand CPI inflation stayed unchanged at 7.2% YoY in Q4 2022 (exp. 7.1% YoY). On a quarterly basis inflation slowed from 2.2% QoQ to 1.4% QoQ (exp. 1.3% QoQ)

  • Market pricing for RBNZ decision is moving closer to 50 bp rate hike in February

  • Australian CPI inflation accelerated from 7.3% YoY to 7.8% YoY in Q4 2022 (exp. 7.5% Yoy). On a quarterly basis inflation accelerated from 1.8% QoQ to 1.9% QoQ (exp. 1.6% QoQ)

  • A 25 basis point rate hike is now a base case scenario for RBA decision on February 7, 2023

  • Microsoft traded 1% lower in after-hours trading following the release of Q4 2022 earnings report. Company reported EPS of $2.32 (exp. $2.29) and revenue at $52.75 billion (exp. $52.94 billion). Growth in Azure Cloud segment reached 31%, slightly above market expectations. Microsoft provided weakish guidance saying it expects sales to reach $50.5-51.5 billion this quarter (exp. $52 billion)

  • API report pointed to a 3.38 million barrel build in US oil inventories (exp. 1.5 mb)

  • Cryptocurrencies are trading mostly higher today, although some weakness can be spotted on major coins. Ethereum drops 0.5%, Bitcoin trades 0.1% lower, Dogecoin gains 0.7% and Litecoin jumps 1.5%

  • Oil is trading around 0.2% higher today while US natural gas price pull back 1%

  • Precious metals trade lower - gold, silver and platinum drop around 0.2-0.3%

  • AUD and EUR are the best performing major currencies while CHF and JPY lag the most

AUDUSD is trading 1% higher today, following the release of higher-than-expected CPI print from Australia. The pair is attempting to make a break above the resistance zone ranging above 61.8% retracement. Source: xStation5

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