20:15 June 20, 2023
The most important events of the trading day
Tops & flops on the stock exchanges
Shares, indices & commodities of the day
Wall Street indexes were lower on the first day of trading after the “long weekend” (Monday was a US holiday). Indices started today’s spot trading weaker and continued to fall. In the further course of the year, however, the declines were made up again
The S&P 500 and the small-cap index Russell 2000 lose around 0.3% that Dow Jones is trading 0.5% lower and the Nasdaq yields 0.1%.
European stock indices traded lower today. The German DAX fell 0.5%, the French CAC40 and the British FTSE100 were traded more than 0.2% lower and the Dutch AEX collapsed nearly 0.8%. The Spanish IBEX was the outperformer today, up 0.1%.
ECB member Villeroy said inflation in the euro area has already peaked and could approach the 2% target by the end of 2024.
The People’s Bank of China cut interest rates on 1-year and 5-year loans by 10 basis points to 3.55% and 4.20% respectively. While the one-year loan prime rate (LPR) cut was in line with market expectations, the five-year LPR was expected to be cut by 15 basis points to 4.15%.
Reserve Bank of Australia minutes show that the latest unexpected rate hike is due to inflation taking longer to reach its target. However, the RBA indicated that a rate hike decision was imminent, causing the market’s view of future RBA rate hikes to decline.
US housing market data for May surprised on the upside. Building permits were up 5.2%m/m to 1,491k (1,425k expected) while housing starts were up 21.7%m/m to 1631k (1,400k expected).
Cryptocurrencies are up today, with Bitcoin up nearly 4% to a fresh two-week high.
Energy commodities traded lower today – Oil / Brent falls 1% as US natural gas prices / natgas decrease by almost 5%.
Precious metals fell after the USD received a bid on solid housing market data. gold is trading down 0.7%, Silver down 3% (XTB customers were informed by push notification this afternoon) and platinum falls 1.2%.
USD and JPY are the top performing currencies while AUD and NZD are the weakest.
AUDUSD took a major hit today as RBA minutes came out dovish and US housing data came in well above expectations. The pair is deepening the pullback initiated after a failed attempt to clear the 0.6885 resistance zone and is testing the 38.2% retracement today. Source: xStation5
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