December 21, 2023
Forex Markets Analysis 21 December 2023
- Key events today:
- Bank Indonesia rate decision
- US GDP, initial jobless claims, Conf. Board leading index
- Nike earnings
- Stock market rally halts with S&P 500 experiencing its worst day since October
- Dow Jones Industrial Average (^DJI) drops by over 1.2%
- Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) both decline by approximately 1.5%
- US consumer confidence reaches a 5-month high in December
- Wednesday’s market downturn ends a nine-day winning streak for Nasdaq and Dow Jones
- Investors had been enjoying a strong year-end rally, with recent records in Dow’s closing and S&P 500 nearing its all-time high
- Federal Reserve officials’ hawkish comments have not deterred investors, who remain optimistic about the market
- Surprise drop in UK inflation and easing German wholesale inflation contribute to positive market sentiment
- Bond yields continue to slide, with the 10-year Treasury yield (^TNX) falling below 3.9%
- Concerns arise about potential negative impacts on the US economy if anticipated rate cuts occur too quickly
- Eyes on upcoming economic data, including Thursday’s GDP update and Friday’s PCE inflation reading, for clues about the Fed’s strategy
- FedEx (FDX) shares plummeted over 10% after missing quarterly profit expectations and reducing full-year revenue forecast due to a decline in US Postal Service demand.
- Investors await US data readouts, including existing home sales, third-quarter GDP print, durable goods orders, and personal consumption expenditures.
Stay informed on today’s key market events, from the Bank Indonesia rate decision to the latest US GDP data and Nike earnings. Understand market shifts with VT Markets’ comprehensive analysis. Keep up with the latest trends and make informed decisions. Visit VT Markets Insights for detailed updates and expert perspectives.
- West Texas Intermediate crude was little changed
- Spot gold rose 0.2% to $2,035.65 an ounce
Explore the dynamic world of precious metals trading with VT Markets, offering a robust platform for gold, silver, and more. Start trading now at VT Markets Precious Metals.
My name is Styliana Charalambous, possessing a professional qualification as a Chartered Certified Accountant and a Bachelor’s Degree in Accounting and Finance. Highly motivated financial analyst with expertise in audit and investment strategies. I have several years of experience in the finance industry, as an audit supervisor at KPMG and the Head of Investment & Market Research in a multinational Fintech company.
Passionate about personal finance, investing, and creating finance content on social media. Lecturer in Accounting & Finance at Canterbury Christ Church University. I am the Founder and CEO of Selfmade Academy, an organization that helps thousands of students worldwide to plan for their financial future and make smart decisions about their money