https://forextk.com/wp-content/uploads/2022/10/Untitled-design2.png 1080 1080 TK Analysis https://forextk.com/wp-content/uploads/2022/07/logo-white-300x151.png TK Analysis2022-10-20 10:48:572022-10-20 10:48:57Daily analysis 19october
- Wall Street indices finished another session higher but the scale of gains was nowhere near as big as on Monday. S&P 500 gained 1.14%, Dow Jones moved 1.12% higher and Nasdaq added 0.90%. Russell 2000 gained 1.16%
- Indices from Asia-Pacific traded mixed today. Nikkei gained 0.4%, S&P/ASX 200 moved 0.3% higher while Kospi dropped 0.5% and indices from China traded up to 1.7% lower
- DAX futures point to a higher opening of the European cash session today
- Fed’s Kashkari said that rates may go to mid-4% next year if there is no progress on combating inflation. He also said that he does not see any evidence that core inflation has peaked yet
- According to a Reuters report, White House wants to replenish strategic petroleum reserve at a price of $67-72 per barrel. Reuters also said that additional release of 15 million barrels in December will be part of already announced 180 million barrel release
- Telegraph reports that some Conservative Party members asked Labour Party members for help in ousting UK Prime Minister Liz Truss
- BoJ Governor Kuroda said that the recent sharp weakening of JPY was one-sided and undesirable for the economy. However, he also said that central bank’s monetary policy does not directly target FX rates
- Netflix rallied over 14% in the after-hours trading following the release of stellar Q3 2022 earnings. Netflix said it added 2.41 million net subscribers during the quarter – more than doubling the company’s projections. EPS came in at $3.10 (exp. $2.13) while revenue reached $7.93 billion (exp. $7.84 billion)
- API data showed a 1.27 million barrel drop in US oil inventories (exp. +1.5 mb)
- Cryptocurrencies trade lower – Bitcoin drops 0.2%, Ethereum trades 0.7% down and Ripple declines 0.8%
- Oil is trading slightly lower – Brent drops 0.4% while WTI trades 0.1% down
- Precious metals are pulling back with gold dropping 0.3%
- GBP, USD and NZD are the best performing G10 currencies while EUR and CHF lag the most
Nasdaq-100 (US100) jumped in the after-hours trading, following the release of solid earnings from Netflix. However, the move failed to gain traction and the index erased most of this gain later on.
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