Global Factors influencing ASX stocks on 20 December 2022

On 20 December 2022, at AEDT 12:26 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 47.90 points or 0.67%, and is currently trading at 7,086.00 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Information Technology and Consumer Discretionary are the top 2 declining sectors, lower 1.99% and 1.85% in their index values.

Also read-: Mid-Market: S&P/ASX 200 Trading Lower By 0.75%; All 11 Sectors Are Trading Lower

On that note, let us look at a few global reasons impacting the stock market today.

1. The key U.S. indices ended lower in their previous session. NASDAQ Composite declined by 1.49%, NASDAQ-100 closed lower by 1.42%, Dow industrial ended lower by 0.49%, and S&P 500 dropped by 0.90%, respectively.
2. Oil prices rose amid the world’s top crude oil importer China softening its covid 19 restrictions.
3. European Union countries agreed to cap gas prices to control the energy crisis.
4. Gold prices are falling further away from $1800 key levels today as concerns over mounting interest rates and a possible recession in 2023 saw investors pivot into the dollar and Treasury yields.
5. Euro beat the Dollar and rose 0.2% to 1.06085 amid modest improvement in investors' appetite for riskier currencies weighed on the safe-haven dollar.
6.  Most Asian currencies moved little amid fear of recession and rising covid-19 cases in China. The Japanese Yen rose 0.4%, the South Korean Won rose 0.8%, and China’s Yuan fell 0.2%
7. Hang Seng is down by 0.50%, and FTSE 100 is up by 0.40%.

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