IC Markets Global: Daily market analysis(2023-12-13)

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This post was finally written by ICMarkets to 2024-2-2 23:40 edit

IC Markets Global: Daily market analysis(2023-12-13)171 / author:ICMarkets / PostsID:1727087

Active stock market before Federal Reserve's interest rate discussion - Nasdaq index up 0.7%

Yesterday, the US stock market closed at a year high before the Federal Reserve's last crucial interest rate meeting this year. Despite slightly higher than expected inflation data, all three major Wall Street indices closed at2023The highest level of the year. The Dow Jones index rose on the same day0.48%The S&P index has risen0.46%The Nasdaq index has risen0.7%, received at14,500Point above. US treasury bond yield declines, benchmark10The annual yield is set at5.215%The US dollar fell against major currencies, and the index fell on the same day0.2%。goldThe exchange rate against the US dollar has fallen again, and the current trading price is below per ounce1980The US dollar and oil have further declined due to ongoing demand concerns.

Oil prices are falling again3%, lose luster

Yesterday, due to continued pressure from demand and oversupply on oil, oil prices fell again3%. With the US Consumer Price Index（CPI）Data shows that the Federal Reserve will not cut interest rates in the short term, and traders continue to worry about OPEC+The scale of production reduction is not enough to offset the impact of global demand decline, and oil prices have hit their lowest level in six months. From a technical perspective, West Texas Medium Qualitycrude oilAt present, it is only slightly higher than the low level in several months, but if it breaks through these levels, prices are expected to challenge each barrel63The annual low point above the US dollar. Investors are now waiting for the follow-up impact after today's Federal Reserve meeting, but traders are still looking for more selling opportunities.

Federal Reserve releases more data

Today will be another busy day for financial market participants, and the long-awaited Federal Reserve interest rate decision will be announced at the end of trading hours in New York. However, there are still some primary data that the market needs to address before the Federal Reserve meeting. The schedule for the Asian market is relatively tight, and New Zealand's current account data is slightly lower than expected. However, the latest UK gross domestic product will be released for the European market（GDP）The data will keep pound traders vigilant. On the same day, the United States will also release more inflation data, including the monthly Producer Price Index（PPI）For example, the expected increase in core values0.2%. But the highlight will be at the end of the trading session, with Jerome Powell announcing his interest rate decision, issuing a statement, and holding a press conference.