Today will be the reporting of Microsoft and other major US companies - 24.1.2023

On Monday, the US dollar index continued to trade in a narrow range for the 2nd week in a row (about 102 points). There was no important economic information in the US. Note the growth of EURUSD. Yesterday, the euro hit a high since April 2022. This was due to statements by representatives of the European Central Bank (ECB) about a possible rate hike by 0.5% to 3% from the current level of 2.5% at the meeting on February 2. Recall that the Fed meeting will be held on February 1. The probability of a 0.25% rate hike to 4.75% has narrowed to 62% from 68% last week. This is the main negative factor for the US dollar. Good numbers came out this morning in services (Services PMI Flash) Australia and Japan (Services PMI Flash), as well as GfK Consumer Confidence in Germany. This contributed to the morning strengthening of the Australian dollar, yen and euro.

Bitcoin quotes continue to rise and have already risen to $23,000. Earlier, the players positively perceived the bankruptcy mechanism of the FTX crypto exchange. They are now monitoring the bankruptcy of the crypto-lending company Genesis Global Capital and hope that it will be able to pay out some funds to its clients. Theoretically, the exclusion of weak companies can improve the crypto market.

Yesterday, US stock indices rose for the 2nd day in a row. Investors believe that this year the Fed rate will not exceed 5-5.25%. Quarterly financial results of 63% of the reported companies from the list of S&P 500 were better than forecasts. The United States S&P Global Manufacturing PMI (in manufacturing), as well as similar service and composite indices are due out today. In addition, quarterly reports from Microsoft, Johnson & Johnson, Danaher Corporation, Verizon, Texas Instruments, Raytheon, Lockheed Martin, General Electric, 3M, Halliburton and other American corporations will be published.

On Monday, oil quotes rose for the 3rd day in a row. Investors expect an increase in demand for motor fuel in China in connection with the travel of the population during the celebration of the Lunar New Year. Support for oil quotes can also be provided by the replenishment of U.S. Strategic Petroleum Reserve. In 2022, 180 million barrels of oil were sold out of them. The average sale price is estimated at $96 per barrel (WTI).

Wheat, corn and soybeans fell on the back of the rains of Southern Brazil and Argentina. Previously, there was a drought.

Natural gas quotes in Europe on ICE Dutch TTF have stabilized slightly below $700 per 1000 cubic meters. The price of US gas on Henry Hub failed to break down the psychological level of $3 mmBtu (million metric British thermal units). Today it rolled back up to 3.27 mmBtu. Natural gas is used for heating and is highly dependent on the weather.