Morning ticker for November 17, 2022: US and Asia in red, plus dox, oil and precious metals lead

XTB: US indices closed lower in yesterday’s trade. The S&P 500 fell 0.83%, the Dow Jones 0.12% and the Nasdaq 1.54%. The Russell 2000 fell 1.91%

– Asia-Pacific indices traded lower after a weak session in the US. The Nikkei fell 0.3%, the Nifty 50 fell 0.2%, the Kospi fell more than 1% and Chinese indices fell 0.5-1.7%. The S&P/ASX 200 was the best performer, gaining 0.2%

– DE30 futures are slightly more open for the European session

– Bloomberg reports ECB members are heading for a 50 basis point rate hike instead of 75 basis points in December. However, a rate hike of 75 basis points is still possible if inflation reverses, according to the report.

– US Federal Reserve Boardman Waller said the central bank still has a long way to go on interest rates and the final rate level will depend on inflation. Waller said he expects a 50 basis point rate hike in December based on the latest data

– Haitham Al-Qais, OPEC’s secretary-general, said the cartel is ready to intervene in oil markets if the situation calls for it.

– BoJ Governor Kuroda said he expects CPI inflation to fall below 2% in fiscal 2023-24. He also said it was important to continue with easy monetary policy to support the Japanese economy

– Australia added 32,200 jobs in October (+15,000 expected), while the unemployment rate fell to 3.4% from 3.5 (expected 3.6%).

– Japanese exports rose 25.3% yoy (28.1% ex.), imports rose 53.5% (49.7% ex.) in October.

– Cryptocurrencies often trade lower. Bitcoin is down 0.7%, Ethereum is down 0.5% and Dogecoin is down 0.3%

– Oil and precious metals are trading lower against the USD

– USD and NZD are the best performing currencies, while AUD and EUR are the weakest. Overall, the major pairs trading ranges are tight