#MarketNews
Happy Friday, dear traders! This week was intense, and we hope you enjoyed it! Let's take a look at our end-of-week news!
Traders are expecting increased volatility today due to Witch Friday, when futures contracts and options on stock indices and shares expire simultaneously, which may cause an increase in trading volume and unusual price behavior in the underlying assets.
The US stock market rose on central bank decisions and statistical data. The US30 increased by 0.43% to 37,248.35, the US500 grew by 0.26% to 4,719.55, and the US100 advanced by 0.19% to 14,761.56.
Intel releases new AI chip to rival Nvidia and AMD.
Muller (ECB): market expectations for the ECB to start cutting rates are a bit premature. The ECB and the Bank of England are reluctant to join the Fed in cutting rates.
China reports the fastest growth in industrial production in almost two years. Also, China's central bank injected $112 billion into the system.
Asia-Pacific stock indices are mostly rising today, the exception being the Chinese indicator. The market was supported this week by a general increase in risk appetite due to expectations of a significant reduction in the base interest rate by the Federal Reserve next year.
Gold prices showed a slight decline but maintained their weekly upward trend, mainly influenced by US Federal Reserve policy and market expectations of a possible rate cut in 2024.
Oil prices continued to rise on Friday, up 3%. The day before, the oil market was supported by a significant weakening of the US dollar on expectations of a sharp cut in the benchmark interest rate by the Federal Reserve next year.
Bitcoin's price has not undergone any significant changes. Bitcoin's previously strong uptrend met resistance this week, rising to a 2023 high of $44.600 before experiencing its third biggest sell-off of 2023.
How was your trading week? Share your opinion in the comments! TRADE WITH FBS
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