US Markets

Stocks rose following the release of the Consumer Price Index on Tuesday, which showed that inflation is slowing down.

• Data from the Labor Department showed that prices rose 0.1% in November on a monthly basis and 7.1% from a year earlier — down from the 7.7% annual rate recorded in October.
• Tech stocks led markets, with Meta gaining 4.7% and Alphabet up 2.5%.
• The current 10 Year U.S. Treasury yield is set at 3.50760%

Canadian Markets

Statistics Canada released new data regarding the household debt-to-income ratio.

• The data shows that personal debt rose in Canada in Q3, with CA$1.83 in debt for every dollar of disposable income.
• In Q2, there was CA$1.82 in debt per dollar of disposable income, and in Q3 2021, there was CA$1.77, showing a gradual upward trend over the last year.
• Overall in Q3, household debt was up by 1.2% while disposable income rose 0.8%; that difference accounts for the rise in the debt-to-income ratio.

European Markets

European markets fell on Monday as investors await central bank announcements later this week.

• The Stoxx 600 lost 0.4%. Mining stocks led losses with a 1.6% drop.
• The only sector that finished in the green was oil and gas, which gained 0.3%.
• The Federal Reserve, Bank of England, European Central Bank, and the Swiss National Bank will all make monetary policy decisions this week.

ATHENA EA

#H1

#H4

#Time frames

Award Winning Momentum TradingPromo

Yearly Target:

220%

Risk/Reward:

0.36

Platforms:

MT4

Order Now

Historical Drawdown:

30%

Min. Deposit:

50$

Asset Types:

Forex

Presented by

Chris Svorcik

Verified on:

Asian Markets

Stocks in Asia were mixed on Monday and early Tuesday morning.

• Business sentiment in Australia turned negative in November for the first time in 11 months.
• The Bank of Korea will share the minutes from its November meeting today, providing insights into future monetary policy.
• India registered an annual inflation rate of 5.88% last month, an 11-month low.

Commodities

Oil prices rose on Monday amid concerns about supply.

• The Keystone pipeline remains closed in the U.S. and Russia is threatening to cut production, which would cause prices to rise.
• China’s decision to ease “Zero Covid” restrictions is expected to cause an increase in demand for oil.
• Brent crude gained 2.5% and U.S. West Texas Intermediate rose 3%.

Currency Exchange Rates

The U.S. Dollar rose on Monday ahead of the Federal Reserve’s meeting later this week.

• The Consumer Price Index due out today will significantly impact the dollar as it will indicate if the Fed is likely to continue with aggressive interest rate hikes.
• The U.S. Dollar Index was up 0.2% on Monday.
• The Chinese Yuan was down on the day due to concerns that Covid cases could spike in the country following the relaxation of “Zero Covid” restrictions.

Cryptocurrency

FTX founder Sam Bankman-Fried was arrested last night in the Bahamas after criminal charges were filed against him in the U.S.

• The indictment was sealed but was filed in the Southern District of New York.
• He is expected to be extradited to the U.S., where he will face charges based on that indictment. This is the first regulatory action against a member of FTX following the firm’s collapse.
• The charges are numerous and include money laundering, securities fraud, and wire fraud.
• Bankman-Fried was supposed to testify before the House Financial Services Committee today but will not appear due to the arrest.
• The SEC filed a complaint against Bankman-Fried today.

Good trading,
Chris Svorcik