XTB: Natcas retests resistance zone in 7.00 area
– Asia-Pacific indices traded lower at the start of the new week. The Nikkei fell 0.2%, the S&P/ASX 200 fell 0.4%, the Kospi fell 0.7% and the Nifty 50 fell. China’s indexes fell as much as 2%.
– European index futures point to a slightly lower open of the old continent’s cash session.
– US index futures are trading more or less flat compared to silver’s spot close.
– China will remove its Covid tracking app in another step in the reopening process. While rumors of China’s reopening have been circulating in the media for some time, the speed with which restrictions are being lifted has been surprising.
– U.S. Treasury Secretary Yellen expects U.S. inflation to slow significantly in 2023 and to slow significantly by the end of 2023.
– Japanese PPI inflation increased to 9.3% (exp. 8.9%) from 9.1%.
– U.S. natural gas is trading nearly 9% higher at press time as new weather forecasts for the U.S. point to significantly cooler weather ahead of the holiday season.
– Cryptocurrencies trade weak – Bitcoin falls 1%, Ethereum trades 1.2% lower and Dogecoin falls 5.8%.
– Oil trades higher today – WTI is up 0.4%, Brent is trading 0.1% higher.
– Precious metals fall as US dollar strengthens – Platinum trades 0.8% lower while gold and silver fall 0.5%.
– USD and CAD are the best performing currencies, while AUD and JPY are the weakest.
US natural gas prices start the new trading week with a wide gap amid cold weather forecasts for the US. NATGAS is retesting the resistance zone in the 7.00 area.
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