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FPG Market Updates: 12th January 2023

FPG Fortune Prime Global Market Headlines 

FPG Market Updates 12th January 2023 – Stocks higher on upcoming CPI report

ASX futures up 57 points or 0.80 per cent to 7196 near 8.30am AEDT

• AUDUSD +0.3% to 69.07 US cents
• BTCUSD +0.5% to $US17,552 at 8.25am AEDT
• US Indexes: Dow +0.8% S&P +1.3% Nasdaq +1.8%
• European Indexes: Stoxx 50 +1% FTSE +0.4% CAC +0.8% DAX +1.2%
• XAUUSD flat at $US1876.97 an ounce at 3.12pm New York time
• UK Brent Oil +3.4% to $US82.85 a barrel
• 10-year yield: US 3.53% Australia 3.71% Germany 2.19%
• US prices as of 4.27pm in New York

Commodities

Copper rose above $US9000 a tonne for the first time since June, as reported, fuelled by optimism that China’s reopening will spur demand in the world’s top consumer.

The key industrial metal has bounced back following a 14 per cent decline in 2022, when tough coronavirus restrictions hampered the Chinese economy. The country’s shift away from COVID Zero policies has sparked a rebound, while expectations for less aggressive rate hikes by the Federal Reserve have added support.

Today’s agenda

Local: Trade balance November at 11.30am AEDT
Overseas data: NZ building permits November; Japan current account November; US December CPI at 12.30am AEDT Friday

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