- US indices finished yesterday's session higher, however erased most of the early gains. S&P 500 gained 0.73%, Dow Jones moved 0.30% higher and Nasdaq jumped 1.01%. Russell 2000 added 0.76%
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Indices from Asia-Pacific traded higher as well. Nikkei gained 0.76%, S&P/ASX 200 traded 0.67% higher, Kospi jumped 1.0% and indices from China traded higher
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DAX futures point to a slightly higher opening of the European cash session
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JP Morgan expects Fed peak rate to 5% in Q1 2023
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Morgan Stanley has raised its China GDP forecast for 2023 to 5.4% from 5%
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China is preparing a US$143bn support package for its semiconductor industry, according to Reuters
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The US is reportedly adding over 30 Chinese firms to trade blacklist, according to Bloomberg
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RBNZ's Hawkesby said the central bank needs to do even more to lower inflation
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New Zealand Treasury expects three quarters of a shrinking economy
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National Australia Bank forecasts RBA to hike rates by 25bp at each of the next two meetings
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Cryptocurrencies are trading mixed. Bitcoin rose 0.1%, Ethereum trades 0.3% lower and Dogecoin jumped 0.5%.
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Oil is trading slightly lower today, as API data showed an unexpected build-up of oil inventories.
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Precious metals rose despite relatively strong USD- gold gains 0.1% while silver trade 0.25% higher
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JPY and EUR are the best performing major currencies while CAD and NZD lag the most
OIL price rose over 5.0% so far this week, however buyers are struggling to break above major resistance at $80.20, which coincides with 78.6% Fibonacci retracement of the upward wave launched in December 2021. Source: xStation5
