- Wall Street indices launched today's trading higher as lower-than-expected ADP employment change reading was seen as a dovish development
- ADP report showed a 103k increase in US employment for November (exp. 130k)
- US indices have given up part of the gains since the opening and are now trading mixed. S&P 500 drops 0.1%, Nasdaq trades 0.2% lower, Dow Jones gains 0.2% and small-cap Russell jumps 0.7%
- Oil prices extended post-OPEC+ drop into a fifth session, with Brent and WTI trading over 3% lower on the day. WTI dropped below $70 per barrel for the first time since early-July 2023
- Oil continued to drop even as DOE report showed a bigger-than-expected decline in US crude inventories and as Algeria said that latest OPEC+ cuts may be extended beyond Q1 2024
- European stock markets indices finished today's trading higher - German DAX gained 0.7% and moved to fresh all-time high, UK FTSE 100 added 0.3%, French CAC40 jumped 0.7% while Dutch AEX was up 0.3%
- Bitcoin is catching a breath following recent rally with price dropping around 0.6% today. However, the coin continues to trade near $44,000 mark
- Bank of Canada left main interest rate unchanged at 5.00% for the third meeting in a row, in-line with market expectations. CAD gained following the decision as no dovish twist was spotted in the statement
- Atlanta Fed GDPNow estimate for US growth in Q4 2023 increased from 1.2 to 1.3%
- DOE report showed a 4.63 million barrel drop in headline US crude oil inventories (exp. -2.3 mb) as well as 5.42 million barrel build in gasoline inventories (exp. +1.2 mb) as well as 1.27 million barrel increase in distillate inventories (exp. +1.1 mb)
- US trade balance for October came in at -$64.3 billion (exp. -$64.2 billion)
- Canadian trade balance for October came in at C$2.97 billion (exp. C$1.7 billion)
- Australian economy expanded at a pace of 0.2% QoQ in Q3 2023 (exp. 0.4% QoQ)
- German factory orders slumped 3.7% MoM in October (exp. +0.1% MoM)
- Euro area retail sales increased 0.1% MoM in October (exp. +0.2% MoM). On an annual basis, retail sales declined 1.2% YoY (exp. -1.0% YoY)
WTI (OIL.WTI) dropped below $70 per barrel today for the first time since early-July 2023 as slump triggered by lackluster OPEC+ announcement last week continues. Source: xStation5
Chart of the day 🔼 Gold rebounds 1.3% despite hawkish Fed stance (17.09.2026)
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls
Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.
🟡Gold gains 1.2% ahead of Fed decision