Morning wrap (27.12.2022)

07:40 27 December 2022
  • US futures launched to today's session higher. US 30 and US 500 rose over 0.50% each, while US 100 gains 0.65%
  • Indices from Asia-Pacific traded mostly higher. Nikkei  gained around 0.85%, Kospi traded 0.50% higher, S&P/ASX 200 was shut for holiday.

  • Chinese stocks rose around 1.0% as authorities will drop COVID-19 quarantine requirement for arrivals from overseas from January 8

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

  •  China’s National Bureau of Statistics (NBS)  revised 2021 GDP growth up to 8.4% from 8.1% 

  • Japan's housing starts unexpectedly dropped by 1.4% YoY in November, missing market forecasts of a 1.5% rise and following a 1.8% decline in October.

  • Retail sales in Japan rose 2.6% in November YoY, slowing for the second straight month and missing expectations for a 3.7% gain.

  • Japan’s unemployment rate fell to 2.5% in November after standing at 2.6% in the past two months, in line with forecasts 

  • PBOC injected a total CNY 206 billion of reverse repos into the banking system on Tuesday, while keeping the rate unchanged at 2% and 2.15%, respectively. 

  • Major cryptocurrencies trade slightly higher today. Bitcoin gains 0.3%, Ethereum rose 0.4% 

  • Energy commodities trade mixed - Brent and WTI gain around 1.0% while US natural gas prices fell 2%

  • Precious metals trade higher - silver jumped over 1.0%, gold trades  gains 0.35% 

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

Silver price is once again testing key resistance at $24.00 per ounce. Source: xStation5


 

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