Markets fall as investors brace for Fed - 30.1.2023

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has halted
US stocks are edging lower currently
Brent is edging lower currently.
Gold prices are edging higher presently

Top daily news

Global equity indexes are pointing mostly down currently as traders prepare for Fed’s meeting this week while US stocks ended higher on Friday led by tech shares. Intel dropped 6.4% after the chip maker reported lower profits and projected a loss in the first quarter of 2023, American Express shares jumped 10.6% after better than expected guidance.

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Forex news

Currency Pair	Change
EUR/USD	-0.07%
GBP/USD	-0.08%
USD/JPY	-0.2%
AUD/USD	-0.2%

The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% Friday.

Both EUR/USD and GBP/USD continued their retreating on Friday while the British Finance Minister signaled he is pushing ahead with tax hikes. Both Pound and euro are lower against the Dollar currently. Both USD/JPY and AUD/USD reversed their advancing Friday with the yen higher against the Greenback currently and the Australian dollar lower still.

Stock Market news

Indices	Change
DJIA	-0.3%
Japan 225	-0.06%
Hang Seng	-2.5%
Australia 200	-0.3%

US stocks are edging lower currently after closing higher on Friday supported by Bureau of Economic Analysis data showing the personal consumption expenditures price index growth moderated further in December. The three main US stock benchmarks recorded daily gains ranging from 0.1% to 0.95% on Friday.

European stock indexes futures are down currently after stocks closed higher on Friday led by auto shares. Asian indexes futures are lower today after mainland China trading opened with Hong Kong’s Hang Seng index leading losses dragged by steep losses in majors such as Alibaba Group Holding and Tencent Holdings.

Commodity Market news

Commodities	Change
Brent	-0.2%
Light Weight Crude Oil	-0.6%

Brent is edging lower currently. Prices ended lower on Friday amid estimates crude oil loadings from Russia's Baltic ports are set to rise by 50% this month from December as sellers try to meet strong demand in Asia. West Texas Intermediate (WTI) futures settled down 1.6% and is lower currently. Brent lost 0.9% to $86.66. Brent advanced just 3 cents from last week's settlement while the US benchmark WTI recorded a 2% loss.