Natural gas futures are inching higher early Thursday after closing lower for the fourth straight session in more than a month due to expectations that warmer weather over the next two weeks would reduce demand for heating.
On Thursday (December 29), in the Asian session, spot gold rose slightly, trading at 1809.21 dollars/ounce. The dollar index weakened slightly, providing support for gold prices. Moreover, the fall of gold prices on Wednesday once again held the key support of the 21 day moving average, and there were some bargain hunting in the gold market. Since this week, the news about the Asian epidemic has had a great impact on the market sentiment, and the market worries have fluctuated.
EUR/USD expected to push higher, while USD/JPY reaction to BoJ action signals the potential for another turn lower.
AUD/USD bulls take a breather around 0.6750 amid doubts on China Covid conditions. The Australian Dollar (AUD) appears to have bottomed around the 0.6680 area since December 19 and advanced toward the 0.6800 region amid an upbeat sentiment. Nevertheless, the choppiness of the last trading week of 2022 keeps traders at bay from opening fresh longs ahead of the month, quarter, and year-end flow, which usually benefits the US Dollar (USD). At the time of writing, the AUD/USD is trading at 0.6785.
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【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2022-12-29
For a time, the US bond yield gave back the rise in the US stock market and turned down. In the afternoon, the US stock market's long-term bond yield turned up again, while the short-term bond yield kept falling. The yield of the 10-year US bond pushed down 3.80% and then rose above 3.89%. The yield of the two-year US bond fell to a minimum of 4.33%, and the closing price was around 4.35%.
With forex trading becoming increasingly a global activity, macroeconomic events worldwide often have a greater impact on market activity. The global forex market is largely affected by inflation, economic reports, and political stability, which are the significant market movers. In constant flux, currency values regularly fluctuate in value, opening up opportunities for traders to profit from volatility.
The gap between financial markets’ expectations for future inflation and interest rates and the OBR vary a lot. What does the pound make of the UK outlook?
During an economic expansion, consumer confidence is usually high. Consumers accordingly tend to spend more than they do at other times, especially for bigger-ticket items and durable goods (e.g., automobiles and household appliances). The increase in consumer spending in turn helps the economy sustain its expansion.
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At the beginning of the Asian market on Wednesday (December 28), the US dollar index fluctuated in a narrow range and is currently trading near 104.21. The US dollar was flat on Tuesday after China said that it would cancel the COVID-19 centralized isolation requirement for inbound passengers, which is an important step for China to reopen its borders, although the number of COVID-19 cases is soaring.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
On Tuesday (December 27), the optimism of the easing of epidemic restrictions put pressure on the US dollar. The US dollar index fell to a daily low of 103.89 in the European market, rose above the 104 level before the US market, and finally fell 0.16% to 104.16. Non US currencies rose broadly.
Historically, 2022 was a year marked by a turning point in global politics and finance, indicating the end of one era and the beginning of another. As the key events of 2022 unfold, from the Russian invasion of Ukraine to the collapse of the crypto industry, there has always been a series of unexpected twists and turns. Here we highlight the five major economic events that happened for the first time in 2022 whose repercussions are likely to be apparent for years to come.
WCG Markets:2022-12-28
Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to set the price of two-thirds of the world's internationally traded crude oil supplies. It is one of the two main benchmark prices for purchases of oil worldwide, the other being West Texas Intermediate (WTI).
Rising inflation, central bank hiking, and the high likelihood of a global recession are causing stocks and crypto markets to tumble this year.
Apple's stock tumbled in 2022, suffering from steep declines in the tech industry. Tech stocks just had their annus horribilis. The sell-off in the space was so indiscriminate that most shed billions or millions from their market capitalizations. The tech-heavy Nasdaq Composite Index has lost almost twice as much as the broader S&P 500 Index, underlining the skewed nature of the market sell-off toward the tech space.