US markets

The Dow Jones rose on Friday, while the S&P and the Nasdaq were down on the half-day of trading.

  • All three major indexes rose on the week. The Dow gained 1.78%, S&P 500 climbed 1.53%, and the Nasdaq was up 0.72%.

  • Earnings have been solid, and consumer spending hasn’t dropped, which has helped increase investor confidence.

  • The current 10 Year U.S. Treasury yield is set at 3.70010%.

Market Price Move
Dow Jones 34,347.03 0.45%
S&P 500 4,026.12 -0.03%
Nasdaq 11,226.36 -0.52%
Russell 2000 1,869.19 0.30%

 

Canadian markets

Data from Ratehub.ca shows that homebuyers in 2022 are paying up to 250% more in interest during the first year of their mortgage than in 2021.

  • In October 2021, a homebuyer with a $600,000 mortgage would have paid an average of $12,310 in interest in the first 12 months.

  • In October 2022, a homebuyer with a $600,000 mortgage would have paid an average of $30,819 in interest in the first 12 months.

  • The average house price in Canada has decreased by 9.9% from October 2021 to October 2022.

  • According to Canada Mortgage and Housing Corporation, the most common mortgage continues to be the five-year fixed rate with 25 years of amortization.

Market Price Move
TSX 20,383.77 0.20%

 

European markets

European markets were flat on Friday following an upward trend in the first four days of the week.

  • The Stoxx 600 lost 0.25% on Friday after gaining at the start of the session before a downturn.

  • The Stoxx 600 had its sixth consecutive winning week and also hit a three-month high last week.

  • Credit Suisse shares are at an all-time low after losing more than 5%.

Market Price Move
Euro STOXX 50 3,962.41 0.01%
UK (FTSE 100) 7,486.67 0.27%
Germany (DAX) 14,541.38 0.01%
France (CAC 40) 6,712.48 0.08%

 

Asian markets

Shares in Asia were down on Friday after a volatile week of trading.

  • Casino stocks in China saw losses. MGM China fell by 4%, Mynn Macau lost 2.5%, Sands China dropped by 3%, and SJM Holdings declined by 2.7%.

  • Technology stocks in Hong Kong were also down as Tencent fell by 3%, Meituan lost 3.17%, and Bilibili dropped 4.36%.

  • Japan’s inflation rate hit a 40-year high after consumer prices rose by 3.6% in November on an annualized basis.

Market Price Move
S&P Asia 50 4,213.96 -0.51%
Japan (Nikkei 225) 28,283.03 -0.35%
South Korea (KOSPI) 2,437.86 -0.14%
China (Hang Seng) 17,573.58 -0.49%
India (SENSEX) 62,293.64 0.03%

 

Commodities

Oil prices were down on Friday due to continuing concerns about demand from China, where COVID-19 cases are increasing.

  • Brent crude futures lost 1.6% and U.S. West Texas Intermediate crude fell 1.7%.

  • On the week, the benchmark crudes lost 3.8% and 3.9%, respectively.

  • The G7 and EU have been discussing putting a price cap on Russian oil at between $65 and $70 per barrel.

Market Price Move
Oil (NYSEARCA: OIL) 29.08 -0.86%
Gold (NYSEARCA: GLD) 163.22 0.09%
Silver (NYSEARCA: SLV) 19.72 -0.45%
Corn (NYSEARCA: CORN) 26.64 0.91%
Lumber (NASDAQ:WOOD) 76.55 0.03%

 

Currency exchange rates

The U.S. Dollar increased slightly on Friday after falling a day earlier.

  • China’s central bank said it would cut the amount of reserves banks had to hold.

  • The Chinese Yuan lost over 0.4% following the news and has been negative for two consecutive weeks.

  • The Japanese Yen lost 0.5% after data showed that Japan’s annual inflation hit a 40-year high.

Market Price Move
UK(GBP) £0.83 0.17%
Europe (EURO) €0.96 -0.06%
Canada (Canadian Dollar) $1.34 0.47%
Japan (Yen) ¥139.13 0.38%

 

Cryptocurrency

Bitcoin has been holding its price since Wednesday despite suppressed trading volume in the U.S.

  • Brendan Blumer, the Founder of Block.One has purchased a 9.3% stake in Silvergate Capital, making him the largest shareholder in the company.

  • Incoming Kraken CEO Dave Ripley said he believes that self-custody and regulation will be the future of the crypto industry.

  • Flashbots, an Ethereum R&D firm, is building a plug-and-play solution to change how validators earn MEV.

Market Price Move
Bitcoin $16,475.20 -0.67%
Ethereum $1,205.29 0.58%
Litecoin $76.19 2.90%
Bitcoin Cash $112.24 -2.98%

The trading ideas goes into active money management by the team of Elite CurrenSea (ECS), which you can follow at $0 upfront fees over their website.

Elite CurrenSea Training Program(s) should not be treated as a recommendation or a suggestion to buy or sell any security or the suitability of any investment strategy for Student. The purchase, sale, or advice regarding any security, other financial instrument or system can only be performed by a licensed Industry representative; such as, but not limited to a Broker/Dealer, Introducing Broker, FCM and/or Registered Investment Advisor. Neither Elite CurrenSea nor its representatives are licensed to make such advisements. Electronic active trading (trading) may put your capital at risk, hence all trading decisions are made at your own risk. Furthermore, trading may also involve a high volume & frequency of trading activity. Each trade generates a commission and the total daily commission on such a high volume of trading can be considerable. Trading accounts should be considered speculative in nature with the objective being to generate short-term profits. This activity may result in the loss of more than 100% of an investment, which is the sole responsibility of the client. Any trader should realise the operation of a margin account under various market conditions and review his or her investment objectives, financial resources and risk tolerances to determine whether margin trading is appropriate for them. The increased leverage which margin provides may heighten risk substantially, including the risk of loss in excess of 100% of an investment.

Feed news Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD: Inside day Friday opens risk of a lower close on Monday, 0.7050 eyed

AUD/USD: Inside day Friday opens risk of a lower close on Monday, 0.7050 eyed

AUD/USD was the best performer for the G7 last week and Aussie bulls could be trapped up high for the week ahead which holds a number of key data events. The following illustrates a bearish bias for the initial balance of the week, Monday with 0.7050 eyed.

AUD/USD News

EUR/USD faces fragile barricades below 1.0900 ahead of German GDP data

EUR/USD faces fragile barricades below 1.0900 ahead of German GDP data

The EUR/USD pair is struggling to extend its recovery move above the immediate resistance of 1.0870 in the early Tokyo session. The major currency pair delivered a rebound move from the previous week’s low around 1.0840 amid a restricted upside in the US Dollar index (DXY).

EUR/USD News

Gold bears await Federal Reserve decision, United States Non-farm Payrolls

Gold bears await Federal Reserve decision, United States Non-farm Payrolls

Gold price holds lower ground near $1,925 after posting an indecisive weekly closing as the metal traders await the key United States data and the Federal Reserve’s (Fed) monetary policy decision. Also important will be central bank meetings of the European Central Bank (ECB), Purchasing Managers’ Indexes data and the US employment numbers for January.

Gold News

Hedera missed the opportunity to reach that target before the fade kicked in

Hedera missed the opportunity to reach that target before the fade kicked in

Hedera (HBAR) price has been shooting for the starts but looks to be dropping like a stone now. Just like Icarus, who flew too close to the sun, this time, Hedera came just not close enough to the projected price target for this rally.

Read more

Central bank fest as dollar continues its decline

Central bank fest as dollar continues its decline

The focus this week is the Federal Reserve meeting, the Bank of England rate decision and Monetary Policy Report and the ECB meeting. This troika of central bank decisions could set the tone for the rest of the year: the Federal Reserve passing the baton of global leader when it comes to tightening monetary policy.

Read more

Majors

Cryptocurrencies

Signatures