U.S stock futures traded low while Asian stocks ended mixed. Oil prices slipped on recession fears. Gold held firm. Yen steadied at 7-month highs. Cryptos were in green.

Updated time: 17 Jan, 2023, 14:15 (UTC+04:00)

Stocks:

U.S. stock futures marked low due to the holiday closure, while looking ahead to economic data and corporate earnings results. Dow Jones futures and S&P 500 futures lost 0.1%, except Nasdaq futures dipped further 0.2%. This week's focus will be on FOMC member Williams' speech, the NY Empire State manufacturing index and earnings reports of big American corps.

Asian stocks traded mixed in a tight range after China’s latest growth data was released. Shares in Japan ended its two-day losing streak to rise while equities in Australia and South Korea fell around 0.3%. The Hang Seng Index declined 0.6%, coupled with stocks in mainland China being the worst performers.

Commodities:

Oil prices slid on fears of recession, snuffing hopes of fuel demand recovery in China. Brent crude futures and WTI crude oil futures were down 0.5 - 1.5% to trade at $84.08 and $78.70 respectively. Soaring Russia’s crude supplies put pressure on the prices, with seaborne exports surging to 3.8 million bpd besides G7 imposed an oil price ceiling.

Gold prices held firm around $1,900 in anticipation of economic data cues and signs of recession. Spot gold rose 0.2% to $1,918.14 while gold futures added 0.1% to $1,920.95. Copper prices traded higher as the prospect of China demand recovery.

Currencies:

The yen hit a seven-month high at 127.22 per dollar during Asian hours on mass expectations of a strong move from the BOJ, however eased due to thin trading in the U.S. The dollar on the contrary fell to multi-month lows with its index holding at 102.28. Other currencies slightly increased: the euro rose to $1.0874, sterling at $1.2199, the Aussie at $0.7 and the kiwi at $0.6394.

Cryptocurrencies:

Bitcoin, still held firm to the highs at $21,190, up over 1.6% amid the fierce debate over the U.S debt ceiling. Ethereum has reached nearly $1,600, up about 1.5%. Most other major cryptocurrencies were in green.