Forex News from InstaForex

[IFX Gertrude]

American stock indices are changing in different directions



There are no statistical releases scheduled for Friday. In this case, the session will be shortened and will end at 21:00 GMT+2. In this regard, trading activity is likely to be lower than usual, experts say. On Thursday, the exchanges did not work because of the public holiday - Thanksgiving Day.

Meanwhile, a number of important indicators will be published in the near future, including revised data on changes in US GDP in the third quarter, as well as data on the state of the labor market in November. In addition, the country begins the season of active shopping before the holidays.

Dow Jones Industrial Average by 18:02 GMT+2 increased by 0.4% and reached 34333.97 points.

Among the components of the index, the top gainers were Home Depot Inc, up 1.8%, UnitedHealth Group up 1.4% and 3M Co. - by 1.2%.

The value of the Standard & Poor's 500 by this time increased by 0.06% - up to 4029.69 points.

At the same time, the Nasdaq Composite index fell by 0.39% since the market opened and amounted to 11241.63 points.

Stock quotes for retailers Walmart Inc. and Target Corp. decrease respectively by 0.2% and 0.8% at the beginning of trading.

Amazon.com Inc. price fell 1.1% on reports that employees at the online retailer's warehouses around the world, including the US, Germany and France, are planning protests on Friday demanding higher wages.

Shares of Ford Motor fell 0.3% on news that the company is recalling more than 634,000 SUVs worldwide due to malfunctions.

Tesla's value fell 1.2%. The company announced that it is recalling about 80,000 electric vehicles in China due to problems with software and seat belts.

In addition, Apple Inc. papers are getting cheaper. - by 1.6%, Nike Inc. - by 0.6%, Intel Corp. - by 0.5%.

At the same time, the share price of Chevron Corp. grows by 0.3%. According to media reports, the United States is preparing to grant this company a license to produce oil in Venezuela. Chevron will regain partial control of oil production in Venezuelan fields, in which the company has retained stakes through joint ventures with state-owned Petroleos de Venezuela SA.

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[IFX Gertrude]

GOLD REBOUNDS ON DOLLAR PULLBACK



Gold rebounded on Tuesday, after having fallen around 1 percent in the previous session in the wake of hawkish comments from St. Louis Fed President James Bullard.

Spot gold climbed 0.8 percent to $1,754.76 per ounce, while U.S. gold futures were up 0.8 percent at $1,753.40.

The dollar fell against its rivals today as optimism surrounding China's reopening offset rate-hike fears.

U.S. Treasury yields pulled back despite U.S. Fed officials James Bullard and John Williams reiterating their hawkish stance on further rate hikes.

Euro zone government bond yields fell broadly after inflation in Spain and in Germany's most populous state came in below expectations.

Financial markets ae excited about some sort of reopening in China, apparently to quell public anger against COVID-19 curbs.

China reported a slight dip in new COVID-19 infections and also stepped-up support for the country's property sector, further aiding risk sentiment.

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[IFX Gertrude]

CHINA MANUFACTURING PMI FALLS TO 48.0 IN NOVEMBER - NBS



The manufacturing sector in China continued to contract in November, and at a faster pace, the latest survey from the National Bureau of Statistics revealed on Wednesday with a manufacturing PMI score of 48.0. That missed expectations for a reading of 49.0 and was down from 49.2 in October. It also moved further beneath the boom-or-bust line of 50 that separates expansion from contraction. The report also showed that the non-manufacturing PMI fell to 46.7 from 48.7 in October, while the general PMI dropped to 47.1 from 49.0.

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[IFX Gertrude]

CHINA MANUFACTURING PMI FALLS TO 48.0 IN NOVEMBER - NBS



The manufacturing sector in China continued to contract in November, and at a faster pace, the latest survey from the National Bureau of Statistics revealed on Wednesday with a manufacturing PMI score of 48.0. That missed expectations for a reading of 49.0 and was down from 49.2 in October. It also moved further beneath the boom-or-bust line of 50 that separates expansion from contraction. The report also showed that the non-manufacturing PMI fell to 46.7 from 48.7 in October, while the general PMI dropped to 47.1 from 49.0.

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[IFX Gertrude]

JAPAN MANUFACTURING SECTOR CLIPS INTO CONTRACTION - JIBUN



The manufacturing sector in Japan fell into contraction in November, the latest survey from Jibun Bank showed on Thursday with a manufacturing PMI core of 49.0.

That's down from 50.7 in October, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

Contributing to the sub-50.0 PMI reading was a sharper contraction in output levels at Japanese manufacturing companies. The downturn was the strongest since August 2020 and reportedly resulted from weak customer demand. Reflective of the trends in output was a further contraction in order books. The decline was the fastest since August 2020 amid reports of cooling market demand and ongoing price pressures.

Foreign demand also declined and at a pace that was the sharpest since July 2020. Panel members suggested that overseas clients were looking to downwardly adjust inventory levels.

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[IFX Gertrude]

AUSTRALIA HOME LOANS DROP 2.9% IN OCTOBER



The value of owner-occupied home loans issued in Australia in October was down a seasonally adjusted 2.9 percent on month, coming in at A$17.16 billion.

That exceeded expectations for a decline of 4.5 percent following the 9.3 percent drop in September.

On a yearly basis, home loans stumbled 17.2 percent.

Investment lending fell 2.2 percent on month and 17/0 percent on year to A$8.62 billion.

Overall lending shed 2.7 percent on month and 17.1 percent on year to A$25.79 billion.

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[IFX Gertrude]

SINGAPORE PRIVATE SECTOR SLOWS IN NOVEMBER - S&P GLOBAL



The private sector in Singapore continued to expand in November, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a PMI score of 56.2.

That's down from 57.7 in October, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Private sector activity continued to expand at a robust pace midway into the final quarter of 2022 but saw the rate of expansion moderate from October's high. Survey respondents remarked that virus-related disruptions underpinned the slowdown. Indeed, lead times lengthened at a substantial rate in November amid reports of COVID-19 related delays and manpower constraints.

Overall demand, including external demand, meanwhile remained a key driver behind the growth in activity but likewise saw the rate of expansion slow in November.

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[IFX Gertrude]

AUSTRALIA CENTRAL BANK LIFTS RATE BY 25 BPS



Australia's central bank raised its key interest rate by a quarter point again on Tuesday, as widely expected.

The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 25 basis points to 3.10 percent.

The board reiterated that it expects to increase interest rates further over the period ahead, but it is not on a pre-set course.

The size and timing of future interest rate increases will continue to be determined by the incoming data and the Board's assessment of the outlook for inflation and the labor market, the bank repeated.

Policymakers observed that that monetary policy operates with a lag and that the full effect of the increase in interest rates is yet to be felt in mortgage payments. Household spending is likely to slow although the timing and extent of this slowdown is uncertain.

"The path to achieving the needed decline in inflation and achieving a soft landing for the economy remains a narrow one," Governor Philip Lowe said.

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[IFX Gertrude]

AUSTRALIA GDP CLIMBS 5.9% ON YEAR IN Q3



Australia's gross domestic product expanded 5.9 percent on year in the third quarter of 2022, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for an increase of 6.2 percent and up from 3.6 percent in the three months prior.

On a seasonally adjusted quarterly basis, GDP picked up 0.6 percent - again missing forecasts and slowing from 0.9 percent in the previous three months.

Capital expenditure was down 0.2 percent on quarter after rising 0.2 percent in Q2, while the GDP deflator added 0.2 percent on quarter after jumping 3.3 percent in the second quarter.

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[IFX Gertrude]

The US stock market closed mixed, Dow Jones did not rise in price



At the close of the day on the New York Stock Exchange, the Dow Jones did not rise in price, the S&P 500 index fell 0.19%, the NASDAQ Composite index fell 0.51%.

The leading performer among the components of the Dow Jones index today was 3M Company, which gained 1.77 points (1.42%) to close at 126.35. Merck & Company Inc rose 1.16 points or 1.06% to close at 110.09. Amgen Inc rose 0.87% or 2.47 points to close at 285.76.

The biggest losers were Salesforce Inc, which shed 2.79 points or 2.09% to end the session at 130.48. Apple Inc. shares rose 1.97 points (1.38%) to close at 140.94, while Boeing Co was down 1.93 points (1.08%) to close at 176.50. .

Leading gainers among the S&P 500 index components in today's trading were State Street Corp, which rose 8.19% to hit 80.45, Campbell Soup Company, which gained 6.02% to close at 56.18, and also shares of Bank of New York Mellon, which rose 4.13% to close the session at 44.61.

The biggest losers were M&T Bank Corp, which shed 7.72% to close at 147.97. Shares of Brown Forman lost 7.30% to end the session at 68.27. Expedia Inc (NASDAQ:EXPE) dropped 6.32% to 90.79.

Leading gainers among the components of the NASDAQ Composite in today's trading were Prometheus Biosciences Inc, which rose 165.67% to hit 95.80, Transcode Therapeutics Inc, which gained 133.44% to close at 0.98, and also shares of Vor Biopharma Inc, which rose 41.86% to end the session at 6.10.

The biggest losers were Ensysce Biosciences Inc, which shed 53.36% to close at 1.04. Shares of Versus Systems Inc lost 46.98% and ended the session at 0.79. Bruush Oral Care Inc Unit fell 46.95% to 0.50.

On the New York Stock Exchange, the number of securities that fell in price (1608) exceeded the number of those that closed in positive territory (1466), while quotes of 134 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,196 companies fell in price, 1,487 rose, and 198 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 2.30% to 22.68.

Gold futures for February delivery added 0.91%, or 16.30, to $1.00 a troy ounce. In other commodities, WTI futures for January delivery fell 2.40%, or 1.78, to $72.47 a barrel. Futures for Brent crude for February delivery fell 2.28%, or 1.81, to $77.54 a barrel.

Meanwhile, in the forex market, the EUR/USD pair was unchanged 0.38% to 1.05, while USD/JPY fell 0.38% to hit 136.52.

Futures on the USD index fell 0.40% to 105.12.

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