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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%

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– 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

AUDUSD trades weaker today ahead of expected jobs data in Australia. The pair halted its recent bullish momentum at the 0.6775 resistance zone and has pulled back against the USD. Source: xStation 5