Stocks, gold and dollar resumed rally as safe-haven move on news of russian missiles attacking poland faded. Oil prices slid on falling inventories. Crypto proved resilience.

Updated time: 22 Nov, 2022, 07:30 (UTC+04:00)

Stocks:

Wall Street resumed its rally amid signs that inflation is cooling, after safe-haven demand for Treasury yields was previously lifted by geopolitical tensions arising from an unconfirmed scandal of two Russian rockets hitting NATO-member state of Poland, faded as investors shifted attention to weigh on further data. Dow Jones added 0.2%, S&P 500 0.8% and Nasdaq 1.45% respectively. Poland's government urgently conducted a national security meeting, despite the denial of Russian officials that it was their weapons.

Stocks, gold and dollar resumed rally as safe-haven move on news of russian missiles attacking poland faded. Oil prices slid on falling inventories. Crypto proved resilience.

Producer price index added a half of below the expected price of 0.4%, sending the futures down 0.2% apiece. Ahead of the day, investors will focus on retail sales and earning results from major corporations.

Commodities:

Oil prices extended losses as U.S crude stockpiles declined 5.8 million barrels last week, more than expected. The U.S WTI crude futures now traded at $86.80 per barrel after rising 1.2% to $86.92.

The Russian missile strike on Polish territory boosted gold prices to hit their three-month highs with 0.1% advance for both spot gold and gold futures, up to $1,780.62 and $1,784.05 respectively. This added to 0.5% gains in Tuesday's session.

Currencies:

Dollar settled higher, bringing its index up 0.19% to 106.63 against major peers. The euro heavily suffered due to the Russia-Poland tension, trading 0.05% lower at $1.0345. Sterling sank 0.21% to $1.18435. For the yen and offshore yuan, the dollar held the upper hand at 139.47 and 7.0544. Aussie and kiwi also dropped 0.24% and 0.41% to $0.6740 and $0.6132 respectively.

Cryptocurrencies:

Crypto slightly inched up for the second consecutive day as the FTX debacle may alter Hong Kong's approach to regulating cryptocurrencies. Bitcoin showed resilience of 1% to settle above $16,800 although investors still took cautious steps. Meanwhile, Ethereum was recently changing hands at about $1,250, up about 1% since Monday.

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