Forex News from InstaForex

**InstaForex Gertrude** · 16-12-22, 09:32

SINGAPORE EXPORTS FALL MORE THAN FORECAST ON WEAKER DEMAND

Singapore's non-oil exports declined for the second straight month in November, and at a faster-than-expected pace, amid falls in both shipments of electronic and non-electronic goods, data from Enterprise Singapore showed on Friday.

Non-oil domestic exports decreased 14.6 percent year-on-year in November, which was worse than the 6.1 percent fall in October. Economists had expected a 7.4 percent drop.

Electronic exports plunged 20.2 percent, while non-electronic NODX dropped 12.8 percent.

On a monthly basis, the NODX declined 9.2 percent in November, after a 4.2 percent fall in the previous month. That was also above the 3.0 percent decrease expected by economists.

In November, non-oil domestic exports to the top 10 markets as a whole decreased, primarily as a result of China, Hong Kong, and Malaysia, while those to the EU 27, Japan, and the US increased.

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**InstaForex Gertrude** · 22-12-22, 08:00

EUROPEAN ECONOMICS NEWS PREVIEW: UK REVISED GDP DATA DUE

Quarterly national accounts data from the UK is the top economic news due on Thursday.

At 2.00 am ET, the Office for National Statistics releases UK final GDP data for the third quarter. The preliminary estimates showed that the economy contracted 0.2 percent sequentially, offsetting the 0.2 percent increase a quarter ago. The statistical office is set to confirm the preliminary estimate.

In the meantime, Statistics Sweden is set to publish producer prices and retail sales for November. Sales had decreased 1.3 percent on month in October.

At 3.00 am ET, final foreign trade data is due from Hungary.

At 4.00 am ET, Italy's Istat is scheduled to issue industrial turnover data for October. Sales had declined 1.2 percent on month in September.

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**InstaForex Gertrude** · 23-12-22, 10:00

SINGAPORE INDUSTRIAL OUTPUT CONTRACTS FURTHER

Singapore's industrial production declined for the second straight month in November, and at a faster-than-expected pace, data from the Economic Development Board revealed on Friday.

Industrial production dropped 3.2 percent year-on-year in November, faster than the 0.9 percent fall in October. Economists had expected a fall of 1.1 percent.

Excluding biomedical manufacturing, industrial production decreased 4.8 percent annually in November, reversing a 2.2 percent gain in the previous month.

On a monthly basis, industrial production decreased 1.2 percent in November, reversing a 0.6 percent increase in the prior month.

Among major clusters, electronics output plunged 12.4 percent in November, and the chemical cluster logged a decline in output of 11.3 percent.

Meanwhile, transport engineering output advanced 18.8 percent yearly in November, and that of general manufacturing also showed a double-digit growth of 10.3 percent.

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**InstaForex Gertrude** · 26-12-22, 07:39

US stocks closed higher, Dow Jones up 0.53%

At the close of the New York Stock Exchange, the Dow Jones rose 0.53%, the S&P 500 rose 0.59%, and the NASDAQ Composite rose 0.21%.

Chevron Corp was the top performer among the components of the Dow Jones index today, up 5.32 points or 3.09% to close at 177.40. The Walt Disney Company rose 1.34 points or 1.55% to close at 88.01. The Travelers Companies Inc rose 2.28 points or 1.22% to close at 189.48.

The least gainers were 3M Company, which shed 1.45 points or 1.19% to end the session at 120.14. Amgen Inc was up 1.34 points (0.51%) to close at 263.92, while Apple Inc was down 0.37 points (0.28%) to close at 131.86. .

The leading gainers among the S&P 500 index components in today's trading were APA Corporation, which rose 5.73% to 47.25, CarMax Inc, which gained 5.17% to close at 60.16, and Hess Corporation, which rose 4.72% to end the session at 141.68.

The least gainers were Moderna Inc, which shed 4.44% to close at 199.08. Shares of Illumina Inc lost 2.32% to end the session at 191.24. Quotes of DexCom Inc decreased in price by 1.97% to 111.44.

Leading gainers among the components of the NASDAQ Composite in today's trading were Expion360 Inc, which rose 139.19% to hit 2.35, Akso Health Group DRC, which gained 1.57% to close at 0.40, and also shares of Elys Game Technology Corp, which rose 47.09% to end the session at 0.17.

The least gainers were Applied Molecular Transport Inc, which shed 57.77% to close at 0.44. E-Home Household Service Holdings Ltd lost 52.59% to end the session at 0.64. Quotes Mingzhu Logistics Holdings Ltd fell in price by 50.84% to 1.75.

On the New York Stock Exchange, the number of securities that rose in price (2099) exceeded the number of those that closed in the red (959), while quotes of 96 shares remained virtually unchanged. On the NASDAQ stock exchange, 1909 companies rose in price, 1754 fell, and 216 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 5.01% to 20.87.

Gold futures for February delivery added 0.57%, or 10.20, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 2.80%, or 2.17, to $79.66 a barrel. Futures for Brent crude for February delivery rose 4.40%, or 3.56, to $84.54 a barrel.

Meanwhile, in the forex market, the EUR/USD pair remained unchanged 0.23% to 1.06, while USD/JPY was up 0.38% to hit 132.84.

Futures on the USD index fell 0.12% to 104.01.

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**InstaForex Gertrude** · 28-12-22, 07:28

US stock market closed mixed, Dow Jones up 0.11%

At the close on the New York Stock Exchange, the Dow Jones rose 0.11%, the S&P 500 index fell 0.41% and the NASDAQ Composite fell 1.38%.

The gainers among Dow Jones index components in today's trading were shares of Verizon Communications Inc. which gained 0.84p (2.19%) to close at 39.25. Caterpillar Inc. gained 3.27p (1.36%) to close at 243.14. Chevron Corp. gained 2.23 pct (1.26%) to close at 179.63.

Shares of the Walt Disney Company were the least gainers, with their price dropping 1.64p (1.86%), ending the session at 86.37. Shares of Apple Inc soared 1.83p (1.39%) to close at 130.03, Goldman Sachs Group Inc dropped 3.54p (1.02%) and closed the session at 341.97.

The top gainers among the S&P 500 index components in today's trading were shares of Wynn Resorts Limited, which gained 4.47% to 84.33, VF Corporation, which gained 4.18% to close at 27.16, and Las Vegas Sands Corp, which gained 4.17% to close the session at 48.46.

Shares of Tesla Inc were the least gainers, down 11.41% to close at 109.10. Moderna Inc shares lost 9.50% and closed the session at 180.17. NVIDIA Corporation shares were down 7.14% to 141.21.

The top gainers among NASDAQ Composite index components in today's trading were shares of Elys Game Technology Corp, which gained 111.91% to 0.37, Lightjump Acquisition Corp, which gained 100.00% to close at 19.00, and shares of Quotient Ltd, which gained 94.74% to close the session at 0.37.

The least gainers were shares of Tuesday Morning Corp, which fell 46.12% to close at 0.83. Shares of Mingzhu Logistics Holdings Ltd lost 44.57% and closed the session at 0.97. Lion Group Holding Ltd. was down 36.45 percent to 0.68.

On NYSE the number of securities, which fell in price (1697) exceeded the number of securities, which closed on the plus side (1401). On NASDAQ, 2,517 stocks were down, 1,251 were up, and 139 remained flat.

The CBOE Volatility Index, which is based on S&P 500 options trading, rose 3.74% to 21.65.

Gold futures for February delivery added 0.98%, or 17.65, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 0.16%, or 0.13, to $79.69 a barrel. Futures for Brent crude for March delivery rose 0.43%, or 0.36, to $84.86 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair was unchanged 0.05% to 1.06, while USD/JPY was up 0.49% to hit 133.51.

Futures on the USD index fell 0.12% to 103.89.

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**InstaForex Gertrude** · 29-12-22, 05:57

SOUTH KOREA INDUSTRIAL PRODUCTION CLIMBS 0.4% IN NOVEMBER

Industrial output in South Korea rose a seasonally adjusted 0.4 percent on month in November, Statistics Korea said on Thursday.

That beat forecasts for a decline of 0.8 percent following the 3.5 percent contraction in October.

On a yearly basis, industrial output sank 3.7 percent - also topping expectations for a drop of 4.0 percent following the downwardly revised 1.2 percent contraction in the previous month (originally -1.1 percent).

The index of all industry production was up 0.1 percent on month and 0.6 percent on year in November.

The Manufacturing Production Index added 0.5 percent on month but fell 3.8 percent on year. The Manufacturing Shipment Index lost 2.4 percent on month and 4.2 percent on year. The Manufacturing Inventory Index increased by 1.4 percent on month and 6.1 percent on year.

The Production Capacity Index was flat on month and down 0.8 percent on year. The Index of Capacity Utilization Rate rose 0.9 percent on month but shed 2.5 percent on year. The Manufacturing Average Capacity Utilization Rate was 73.1 percent, up 0.6 percentage points from the previous month.

The Index of Services fell 0.6 percent on month but climbed 2.6 percent on year. The Retail Sales Index sank 1.8 percent on month and 2.2 percent on year.

The Equipment Investment Index added 1.0 percent on month and 11.0 percent on year. The Domestic Machinery Shipment Index surged an annual 10.9 percent. The value of Domestic Machinery Orders Received soared 15.3 percent on year. The value of Construction Completed at constant prices increased by 1.4 percent on month and 10.2 percent on year.

The value of Construction Orders Received at current prices tumbled 11.1 percent on year.

The Composite Coincident Index eased 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, fell 0.7 points from the previous month.

The Composite Leading Index rose 0.1 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, dipped 0.2 points from the previous month.

Also on Thursday, Statistics Korea said that the value of retail sales in South Korea was down a seasonally adjusted 1.8 percent on month in November.

That missed expectations for a decline of 1.0 percent following the 0.2 percent contraction in October.

On a yearly basis, retail sales were down 2.2 percent - again missing forecasts for a decline of 1.5 percent following the 0.7 percent drop in the previous month.

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**InstaForex Gertrude** · 30-12-22, 10:37

SOUTH KOREA INFLATION STEADY AT 5.0%

South Korea's consumer price inflation remained unchanged in December, figures from Statistics Korea showed on Friday.

Consumer prices rose 5.0 percent year-on-year in December, same as seen in November. This was in line with economists' expectations.

Excluding food and energy, core consumer prices rose 4.1 percent annually in December, after a 4.3 percent increase in the previous month.

On a monthly basis, consumer prices increased 0.2 percent in December, following a 0.1 percent drop in November.

Compared to the previous month, the core CPI remained unchanged at 0.3 percent in December.

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**InstaForex Gertrude** · 05-01-23, 04:11

OIL FUTURES SETTLE SHARPLY LOWER ON RECESSION FEARS

Oil prices fell on Wednesday, extending recent losses, as worries about energy demand amid rising fears of a global recession continued to weigh on the commodity.

West Texas Intermediate Crude oil futures for February ended down $4.09 or about 5.3% at $72.84 a barrel, the lowest settlement in more than three weeks.

Brent crude futures were down $4.10 or almost 5% at $78.00 a barrel a little while ago.

China's decision to increase export of refined oil products has fueled concerns of weaker demand in the country.

Meanwhile, Japan has announced that it would tighten borders controls for travelers from China, in response to a surge in Covid cases among visitors.

Traders also took note of comments from former New York Federal Reserve President William Dudley, who said a recession in the U.S. is likely because of what the Fed has to do.

Traders are looking ahead to weekly inventory reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). The API's report is due later today, while EIA's inventory data will be out Thursday morning.

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**InstaForex Gertrude** · 05-01-23, 08:24

CHINA SERVICES ACTIVITY LOGS FOURTH CONSECUTIVE CONTRACTION

China's service sector shrank for the fourth consecutive month in December as the ongoing measures to contain the Covid-19 disrupted operations and hampered demand.

At 48.0, the Caixin services Purchasing Managers' Index rose from a six-month low of 46.7 in November, survey results from S&P Global showed Thursday. But a reading below 50.0 suggests the sector remains in the contraction zone.

The Covid-19 containment measures, including temporary business closures dampened production.

Further, due to pandemic related restrictions, outstanding business increased for the fifth consecutive month as firms were unable to work through backlogs of work.

Cost reduction policies together with voluntary leavers drove another fall in service sector employment. The pace of job shedding was quicker than seen on average in 2022.

On the price front, the survey showed that input cost inflation slowed to a six-month low. Consequently, firms raised their own charges at the softest pace since August. Another reason for the easing in output price inflation was stiff competition.

Optimism among service providers was the strongest since July 2021. Companies that foresee higher output expect the pandemic situation to improve, restrictions to ease, and operations and demand to recover.

The overall private sector that combines manufacturing and services shrank for the fourth straight month in December. But the rate of contraction eased with softer falls in output across manufacturing and services.

The composite output index picked up to 48.3 in December from 47.0 in November.

Infections are expected to explode in the short run, which will disrupt production and everyday life, Wang Zhe, a senior economist at Caixin Insight Group said. "How to effectively coordinate Covid controls with economic and social development has once again become a crucial question."

In order to prop up domestic consumption, various policies are needed that work in tandem with stabilizing the job market and effectively increasing the disposable incomes of residents, said Zhe.

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**InstaForex Gertrude** · 06-01-23, 07:40

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FACTORY ORDERS, RETAIL SALES DATA DUE

Factory orders and retail sales from Germany and flash consumer prices, retail sales and economic confidence from the euro area are the top economic news due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to release Germany's manufacturing orders and retail sales figures for November. Economists forecast factory orders to fall 0.5 percent on month, reversing a 0.8 percent rise in October. Similarly, retail sales are seen rising 1.0 percent after falling 2.8 percent a month ago. In the meantime, UK Halifax house price data is due for December. Also, industrial output data is due from Statistics Norway.

At 2.45 am ET, France's Insee publishes consumer spending data for November. Economists forecast consumer spending to grow 1.0 percent month-on-month, in contrast to the 2.8 percent fall in October. At 3.00 am ET, the Czech Statistical Office is set to issue industrial and construction output and foreign trade reports.

At 4.30 am ET, UK S&P/CIPS construction Purchasing Managers' survey results are due. The construction index is expected to fall to 49.6 in December from 50.4 in the prior month.

At 5.00 am ET, Eurozone flash inflation, retail sales and economic confidence are due. Inflation is seen easing to 9.7 percent in December from 10.1 percent in November. Economists expect retail sales to grow 0.5 percent on month, reversing a 1.8 percent fall in October.

The euro area economic confidence index is seen at 94.7 in December versus 93.7 a month ago.

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**InstaForex Gertrude** · 09-01-23, 07:27

EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany and unemployment from the euro area are the top economic news due on Monday.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss unemployment data for December. The jobless rate is forecast to rise to 2.1 percent from 2.0 percent in November.

At 2.00 am ET, Destatis is set to publish Germany industrial production for November. Economists forecast industrial output to grow marginally by 0.1 percent from October, when output was down 0.1 percent.

At 2.45 am ET, foreign trade and current account figures are due. The trade deficit is seen narrowing to EUR 11.3 billion in November from EUR 12.2 billion in October.

At 4.00 am ET, Italy's Istat publishes unemployment data for November. Economists expect the jobless rate to remain unchanged at 7.8 percent.

Half an hour later, Eurozone Sentix investor confidence survey results are due. The investor sentiment index is forecast to rise to -18.0 in January from -21.0 in December.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment for November. The jobless rate is seen unchanged at 6.5 percent.

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**InstaForex Gertrude** · 11-01-23, 08:33

JAPAN LEADING INDEX AT 23-MONTH LOW

Japan's leading index decreased in November to the lowest level in nearly two years, preliminary figures of a survey by the Cabinet Office showed on Wednesday.

The leading index, which measures future economic activity, dropped to 97.6 in November from 98.6 in the previous month.

Further, this was the lowest score since December 2020, when it was 96.5.

The coincident index, which measures the current economic situation, also weakened to a 6-month low of 99.1 in November from 99.6 in the previous month.

At the same time, the lagging index improved to 100.9 in November from 99.2 in the preceding month.

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**InstaForex Gertrude** · 12-01-23, 06:42

CHINA CONSUMER PRICES UNCHANGED IN DECEMBER

Consumer prices in China were flat on month in December, the National Bureau of Statistics said on Thursday.

That beat expectations for a decline of 0.1 percent following the 0.2 percent drop in November.

On a yearly basis, inflation rose 1.8 percent - in line with expectations and up from 1.6 percent in the previous month.

The bureau also said that producer prices sank 0.7 percent on year versus expectations for a fall 0.1 percent after slipping 1.3 percent a month earlier.

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**InstaForex Gertrude** · 13-01-23, 12:50

US stocks closed higher, Dow Jones up 0.64%

At the close on the New York Stock Exchange, the Dow Jones rose 0.64% to hit a monthly high, the S&P 500 index rose 0.34%, the NASDAQ Composite index rose 0.64%.

The leading performer among the components of the Dow Jones index today was Walt Disney Company, which gained 3.48 points or 3.61% to close at 99.81. Salesforce Inc rose 4.70 points or 3.24% to close at 149.60. Boeing Co rose 6.29 points or 3.02% to close at 214.32.

Shares of Coca-Cola Co were the leaders of the fall, the price of which fell by 0.80 points (1.29%), ending the session at 61.21. Walgreens Boots Alliance Inc was up 1.24% or 0.46 points to close at 36.66, while Walmart Inc was down 0.90% or 1.32 points to close at 144. .81.

The top gainers among the S&P 500 index components in today's trading were American Airlines Group, which gained 9.71% to 16.83, United Airlines Holdings Inc, which gained 7.52% to close at 51.30, and Cognizant Technology Solutions Corp Class A shares, which gained 5.85% to close the session at 65.10.

The least gainers were Charles River Laboratories, which shed 5.95% to close at 232.25. Bio-Techne Corp lost 5.14% to end the session at 82.17. Quotes of Illumina Inc decreased in price by 5.05% to 193.75.

Leading gainers among the components of the NASDAQ Composite in today's trading were Arrival Vault USA Inc, which rose 100.00% to hit 0.54, Akerna Corp, which gained 66.67% to close at 1.65, and also shares of Moxian Inc, which rose by 73.32%, ending the session at around 1.04.

The leading gainers were Oramed Pharmaceuticals Inc, which shed 76.46% to close at 2.54. Atlis Motor Vehicles Inc lost 35.32% to end the session at 6.52. Quotes of Universe Pharmaceuticals Inc decreased in price by 25.30% to 0.90.

On the New York Stock Exchange, the number of securities that rose in price (2353) exceeded the number of those that closed in the red (733), while quotes of 91 shares remained virtually unchanged. On the NASDAQ stock exchange, 2633 companies rose in price, 1063 fell, and 181 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 10.72% to 18.83, hitting a new 6-month low.

Gold futures for February delivery added 1.17%, or 22.05, to $1.00 a troy ounce. In other commodities, WTI crude for February delivery rose 1.20%, or 0.93, to $78.34 a barrel. Futures for Brent crude for March delivery rose 1.50%, or 1.24, to $83.91 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.91% to 1.09, while USD/JPY shed 2.43% to hit 129.24.

Futures on the USD index fell 0.94% to 101.96.

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**InstaForex Gertrude** · 17-01-23, 08:35

EUROPEAN ECONOMIC NEWS PREVIEW: UK LABOR MARKET DATA DUE

Labor market statistics from the UK and economic sentiment from Germany are the top economic news due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is seen unchanged at 3.7 percent in three months to November.

In the meantime, Destatis publishes Germany's final consumer and harmonized prices for December. The flash estimates showed that consumer price inflation eased to 8.6 percent from 10.0 percent in November.

At 4.00 am ET, Italy's Istat is scheduled to issue consumer and harmonized prices for December. Inflation is seen at 11.6 percent, unchanged from the flash estimate and down from 11.8 percent in November.

At 5.00 am ET, Germany ZEW economic confidence survey results are due. Economists forecast the economic sentiment index to improve to -15 in January from -23.3 in December.

At 6.00 am ET, consumer prices data from Ireland and producer prices from Portugal are due.

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**InstaForex Gertrude** · 24-01-23, 08:59

US stocks closed higher, Dow Jones up 0.76%

At the close of the New York Stock Exchange, the Dow Jones rose 0.76%, the S&P 500 rose 1.19%, and the NASDAQ Composite rose 2.01%.

Shares of Intel Corporation led the way among the components of the Dow Jones index today, up 1.05 points or 3.59% to close at 30.27. Salesforce Inc rose 4.62 points or 3.05% to close at 155.87. Apple Inc rose 2.35% or 3.24 points to close at 141.11.

The least gainers were Procter & Gamble Company, which shed 1.92 points or 1.34% to end the session at 141.05. Verizon Communications Inc was up 0.93% or 0.37 points to close at 39.63 while Amgen Inc was down 0.86% or 2.27 points to close at 260. 97.

Leading gainers among the components of the S&P 500 in today's trading were Advanced Micro Devices Inc, which rose 9.22% to hit 76.53, Western Digital Corporation, which gained 8.66% to close at 41.79. as well as shares of Tesla Inc, which rose 7.74% to end the session at 143.75.

The least gainers were Xylem Inc, which shed 7.95% to close at 101.42. Shares of SBA Communications Corp shed 3.55% to end the session at 286.27. Schlumberger NV fell 2.60% to 55.86.

Leading gainers among the components of the NASDAQ Composite in today's trading were Gbs, which rose 293.13% to hit 1.03, Helbiz Inc, which gained 109.13% to close at 0.43, and VERB TECHNOLOGY COMPANY INC, which rose 69.65% to end the session at 0.39.

The least gainers were Catalyst Pharmaceuticals Inc, which shed 29.04% to close at 14.76. Shares of Atlis Motor Vehicles Inc shed 25.11% to end the session at 3.40. Quotes of Ontrak Inc decreased in price by 21.23% to 0.83.

On the New York Stock Exchange, the number of securities that rose in price (2196) exceeded the number of those that closed in the red (841), while quotes of 122 shares remained virtually unchanged. On the NASDAQ stock exchange, 2362 companies rose in price, 1346 fell, and 201 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 0.20% to 19.81.

Gold futures for February delivery added 0.23%, or 4.35, to hit $1.00 a troy ounce. In other commodities, WTI crude for March delivery rose 0.01%, or 0.01, to $81.65 a barrel. Futures for Brent crude for March delivery rose 0.57%, or 0.50, to $88.13 a barrel.

Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.15% to 1.09, while USD/JPY rose 0.84% to hit 130.65.

Futures on the USD index rose by 0.01% to 101.79.

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**InstaForex Gertrude** · 25-01-23, 07:26

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY IFO BUSINESS CONFIDENCE DUE

Business sentiment from Germany and producer prices from the UK are the top economic news due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK producer prices for December. Output price inflation is forecast to rise to 16.4 percent from 14.8 percent in November. Input price inflation is seen at 18.0 percent versus 19.2 percent in the previous month.

At 3.00 am ET, Spain producer price figures are due. In the meantime, Italy's Istat publishes non-EU foreign trade data.

At 4.00 am ET, Germany's ifo Institute publishes monthly business confidence survey results for January. The business sentiment index is seen at 90.2, up from 88.6 in December.

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**InstaForex Gertrude** · 26-01-23, 07:10

Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Thursday January 26, 2023

On the 4-hour chart of the Silver commodity asset, it appears that a hidden deviation has emerged between the price movement of Silver which is in a bearish channel and the Awesome Oscillator indicator which confirms that in the near future Silver has the potential to fall down to the 23,598-area level. 23,413 as the main target and level 23,165 as the next target to be tested but if on the way to the targets of these levels suddenly Silver is corrected upwards significantly breaking above level 24,105 then all the setups previously described will become invalid and automatically cancel by itself.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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**InstaForex Gertrude** · 26-01-23, 09:03

UK CAR PRODUCTION FALLS 9.8% IN 2022, ELECTRIC VEHICLE OUTPUT AT RECORD

Car production in the United Kingdom declined sharply in the year 2022, as global chip shortages and structural changes hampered output along with weaker exports, while electric vehicle production hit a record high, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.

Total car production fell 9.8 percent on an annual basis. There were 775,014 units produced in 2022, down from 859,575 in 2021.

Demand from the domestic market increased 9.4 percent, while that from the foreign market plunged 14.0 percent in 2022.

Despite facing global challenges, UK factories produced a record number of electrical vehicles in 2022, totalling 234,066 units. This shows a 4.5 percent rise annually to represent almost a third of all car production.

In December, UK car production slumped 17

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**InstaForex Gertrude** · 27-01-23, 07:28

Oil prices edge up, and Russia transfers record volumes on high seas

Oil is steadily rising in trading on Thursday amid expectations of increased demand. The easing of some quarantine restrictions in China promises the market a recovery in consumption this year, which supports the general optimism in the commodity sector.

Brent crude for March delivery was at $87.31 per barrel on the London ICE Futures Exchange by 17:39 London time, up 1.38% on the previous trading day.

The West Texas Intermediate for March delivery was at $81.22 a barrel on the New York Mercantile Exchange, i.e., 1.33% above the final value of the previous trading session.

Oil prices were also supported by the report on crude oil stocks in the US, which was published on Wednesday. The U.S. Energy Information Administration (EIA) reported that the country's commercial crude oil inventories rose by 0.5 million barrels during the week ending Jan. 20. Analysts had expected reserves to grow by 0.97 million barrels.

Distillate inventories continued to fall by 0.51 million, reflecting the cold weather in the country. Demand for refined products in the US declined slightly over the week, but still remained at quite comfortable levels for current prices - 19.5 million barrels per day.

Meanwhile, Bloomberg reported that Russia has transshipped record volumes of Urals oil at sea. According to the agency, a total of 19 million barrels of crude oil are likely to be transshipped in January and December. The report said that volume of such crude is expected to hit a record 14 million barrels in January alone.

Recall that at the beginning of December, the European Union prohibited the maritime transport of Russian crude oil and petroleum products. In addition to that, following the G7 plan, EU countries agreed to cap the maritime trade of Russian oil at $60 per barrel. Such a sanction measure led to the fact that the cost of freight began to grow rapidly. Vessels that transship crude at $60 and below are obliged to use insurance under the current conditions.

Bloomberg reported that sources said a fifth supertanker, or very large crude carrier (VLCC), are involved in transshipment of Urals. Three vessels have already departed for Asia, and two more are waiting for departure at the Spanish transshipment point.

The EU, among other sanctions measures, is also studying the possibility of imposing a price limit of $100 per barrel on Russian diesel fuel.

The EU is also studying the possibility of setting a price ceiling on oil products from Russia that are traded at a discount, such as fuel oil, at $45.

News are provided by InstaForex

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