- Equity markets rise in Europe and the US.
- The yen stabilized after the impressive rally on Tuesday.
- Oil advances almost 2% and metals correct downwards.
Futures for major Wall Street indexes are rising on Wednesday, continuing the recovery. The yen calms down after a big rally, while oil continues to rise.
futures rising
Japan’s stocks fell for the second day in a row on Wednesday after the Bank of Japan shock on Tuesday. The central bank announced a change in the upper end of the range of the 10-year bond yield from 0.25% to 0.50%. This had an impact on the financial markets, leading to a fall in sovereign bonds and a large rally in the yen.
The Nikkei 225 lost 0.68% and the Hang Seng rose 0.34%. In Europe the FTSE 100 gains 0.85%, while the DAX climbs 0.71%. The S&P 500 rose 0.10% on Tuesday, snapping a five-day losing streak. and in the previous one the recovery gains momentum, pointing to an opening with gains of 0.41%. Dow Jones futures are up 0.66% and Nasdaq futures are up 0.16%.
In the previous the actions of Nike they rise more than 10% and those of FedEx more than 4% after the presentation of results. Tesla climbs 2% after the announcement of Elon Musk that he will step down as CEO of Twitter when he finds a replacement. On Wednesday, among others, Rite Aid, Carnival, Herman Miller and Micron Technology will present results.
Ukrainian President Volodymyr Zelenskyy is traveling to Washington to meet with his counterpart Joe Biden and to speak in Congress.
In Germany, the Gfk consumer confidence index for January improved from -40.1 to -37.1. In it United Kingdom it was revealed that the indebtedness totaled 22,000 million pounds in November, a record for that month, influenced by the costs of the program to support energy prices for families and companies.
The economic calendar until the end of the year is light. Existing home sales data for November, current account for the third quarter and consumer confidence data for the US for December will be released on Wednesday. In Canada, inflation data for November will be released, which is expected to show a change in the Price Index at Consumer of 6.8% in November compared to a year ago. The US Treasury will place debt at 17 weeks and 20 years.
The dollar trades flat, with major currency pairs in ranges. The pound (GBP) and kiwi (NZD) were among the worst performers on Wednesday. USD/JPY remains near 132.00 after a 3.8% plunge on Tuesday. EUR/USD remains sideways without moving away from 1.0600 while GBP/USD tests levels below 1.2100.
The cryptocurrencies they lost traction and are operating without significant changes on Wednesday. Bitcoin is at $16,850 and ethereum around $1,215. Metals are easing modestly after Tuesday’s rise. Gold is still above $1800 and silver is below $24.00.
The prices of Petroleum They advanced 2% on Wednesday, supported by rising equity markets and a drop in oil inventories. The US Energy Information Agency data on oil reserves will be out later on Wednesday.
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.
