Daily Summary: DAX extends losses, gold reaches new highs! 🔔

5:55 PM October 27, 2023
  • Wall Street erases some of the gains from the beginning of today's session. At the opening both the US500 and the US100 were gaining. At the moment, only the US100 remained on a slight upside.

  • The dollar is losing today, despite the slight anxiety in the market. Among the currencies, the Japanese Yen (JPY), the Australian Dollar (AUD) and the Euro are leading the rise.

  • From the area of the Israel-Hamas war, there were disturbing reports of a likely escalation of the conflict. Israel has communicated that residents of Gaza City are being urged to move south. Israeli ground forces are expected to expand their military operations tonight.

  • Amazon (AMZN.US) is gaining more than 7% after releasing quarterly results yesterday after the session. Operating profit rose from $2.53 billion in Q3 2022 to more than $11 billion in Q3 2023, a year-on-year increase of more than 300%.

  • U.S. PCE inflation came in line with expectations at 3.4% y/y and for core 3.7% y/y. The data falls in line with consensus. There was no significant reaction in the market, which means that the reported data was also expected by the market.

  • US, University of Michigan consumer sentiment for October (final) also came out close to consensus. The actual data was 63.8 versus a preliminary publication of 63.0.

  • In a wave of increased uncertainty, gold gains another 0.45% and approaches the psychological limit of $2,000. In addition to gold, silver is similarly gaining.

  • The cryptocurrency market is seeing a gentle retreat after strong gains this week. Bitcoin is retreating 1.35% to $33,600 today after reaching the $35,000 level.

 

The DE30 index has broken out below the October 24 minimums and is now testing a zone of support marked by the lows of March this year. Source: xStation 5

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