What Can Rule the Roost in January 2023?
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
Wednesday News: Commodities at Record Highs
Every day brings new fluctuations on the market, and commodities reach record high numbers. The changes are not persistent and to wave up and down.
President Joe Biden officially announced that the US would ban Russian imports of crude oil and other energy products, which confirmed speculation made earlier this week and propelled oil prices to nearly 14-year highs. Now XBR is approximately $128.50.
Nickel trading was suspended on the London Metal Exchange (LME) after its price topped $100,000 per metric ton due to shortages of the commodity, fueled by supply concerns due to the Russian-Ukrainian war.
S&P 500 and Nasdaq 100 futures fluctuated, while European contracts cut gains.
In cryptocurrencies, Bitcoin rallied, reaching $41,000. Now the resistance is $45,700, and the support is $36,930. Tokens like Ethereum also jumped.
Coca-Cola Co. joined McDonald's Corp., Starbucks Corp. and a host of other companies in suspending operations in Russia to protest the war.
Gold was near a 19-month high. After rocketing XAUUSD $2070 yesterday, it fell $30 down.
Have a good trading day!
Similar
USD Holds the Line
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Apple is Under Pressure
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
Latest news
Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
What Currency Will Overperform?
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
Investor Positivity May Fade After Powell's Speech and CPI Release
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
