- Future in red, almost completely erasing Thursday’s rise.
- Important day for the presentation of fourth quarter results with the banks.
- The dollar recovers a small part of the lost ground.
Equity markets aim to end the week positively, although on Friday they are less optimistic. The dollar tries to recover some of the lost ground while oil continues to rise. Metals correct downward.
mood change in the last hour
Markets in Asia closed mostly positive on Friday, while in Europe they are in the green. The FTSE 100 is up 0.51% (very close to record highs), the DAX is up 0.23% and the CAC 40 is up 0.29%. The S&P 500 rose 0.34% on Thursday and fell 0.44% in the prior. Dow Jones futures are down 0.31% and Nasdaq 0.55%.
Futures have deteriorated in the past hour. Several of the major indices around the world are on track to end the week with the biggest gains since November.
Goldman Sachs reported losses of $3 billion in its consumer lending business; in the previous the actions fall 1%. Tesla falls 4% in the premarket after a cut in US car sales prices. General Motors Y Ford they also fall. It will be a vital day for the presentation of results on Friday with the focus on banks. Among others they will report JPMorgan Chase, Citigroup, Wells FargoBlackRock, BNY Mellon, Bank of America and Delta Airlines. Trading volume may be reduced ahead of Martin Luther King Jr. day on Monday.
On Thursday it was learned that inflation in the US continues to decline in December, with a drop in the annual rate from 7.1% to 6.5%, the minimum since October and e2021. The data contributed to the expectations that the Federal Reserve will soften the rate of rises in interest rates and that the peak of the cycle of increases is approaching.
The euro lost momentum in the last hours in the market. EUR/USD is correcting from the April high of 1.0870 and is approaching 1.0810. The decline also occurs in the face of a general recovery of the dollar.
The pound received some support from economic data. UK GDP expanded 0.1% in November from a month earlier, the Office for National Statistics reported on Friday, supported by the services sector. EUR/GBP hit a month high at 0.8900 pips and then pulled back, extending to 0.8860 for now.
Emerging market currencies remain firm against the dollarbeing the ones that rise the most Russian ruble and the Chilean and Colombian pesos. The USD/MXN is at its lowest since February 2020.
On Friday in the US the preliminary reading of the January University of Michigan Consumer Confidence Index will be released, which is expected to show a recovery from 59.7 to 60.7. As far as Fed officials are concerned, Neel Kashkari, and Patrick Harker will be speaking publicly.
The Treasury bond They are still higher, albeit more modestly on Friday, which appears to be preventing a more significant dollar recovery. The 10-year bond yield yields 3.46%, after touching 3.41% on Thursday (lowest in a month).
The and in remains among the firmest currencies in the week supported by growing expectations that the bank of japan will change its monetary policy.
In the Eurozone, industrial production in November registered an expansion of 1%, greater than the 0.5% expected and which represents a recovery with respect to the contraction of 1.9% in October. Another report showed that the German economy grew 1.9% in 2022, with GDP stagnating in the fourth quarter as a result of the war in Ukraine and rising energy prices, the statistics agency reported.
The Prayed it set new monthly highs above $1,900 an ounce, but returned below and trades at $1,895. Silver continues to underperform gold and trades at $23.60, trading in the range of the last few days.
The cryptocurrencies hold on to the recent rally. Bitcoin is just shy of $18,900 and Ethereum is up above $1,400 for the first time since November.
The prices of Petroleum They rise for the third day in a row, although moderating the rise. The WTI barrel is at $78.80, with an advance of 0.50% on the day.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
