Weekly Market Recap – March 24, 2023

After their Moscow summit, Vladimir Putin and Xi Jinping proclaimed economic cooperation, in what appears to be a strategy to secure their respective countries from Western sanctions and other consequences of the Russian invasion of Ukraine. The undercurrent of banking turmoil remained in the news. In order to address the public panic, UBS quickly completed its $3.2 billion acquisition of Credit Suisse. Both the Federal Reserve and the Bank of England raised interest rates by a quarter point, as they are still concerned about inflation. President Macron pushed through legislation to raise France’s retirement age from 62 to 64; throughout the week the nation continued to endure protests and strikes.

Monthly economic statistics compared with previous measures were: existing home sales 4.58 million vs. 4.00 million, new home sales 640,000 vs. 633,000, and durable goods -1.0% vs. -5.0%. Regarding weekly stats, there were 191,000 initial jobless claims vs. 192,000 the week before, and continuing unemployment claims were 1.69 million vs. 1.68 million. On a quarterly basis, the Q1 US current account deficit was -$206.8 billion vs. -$219.0 billion in Q4.

Following the ongoing uncertainty in the banking sector and central bank responses with regard to interest rates, stock market activity showed more stability than it had in recent weeks. The Dow Jones Industrial Average closed at 32,237.53 (+1.2%), the S&P 500 rose 1.4%, settling at 3,970.99, and the NASDAQ Composite went out at 11,823.96 (+1.7%). The steadier stock trading cooled CBOE’s VIX, which retreated 14.8% to 21.74 at the week’s end. In the currency markets, USD Index futures inched down to 102.764 (-0.6%). The commodity sector rose, as reflected in S&P’s GSCI; the portfolio of futures closed at 549.37 (+1.4%) on Friday.

Strength persisted across the board for the futures on our metals list. Closing prices and percentage increases were as follows: gold at $1,983.80 (+0.5%), silver at $23.339 (+3.9%), platinum at $983.90 (+0.5%), palladium at $1,414.40 (+2.0%), copper at $4.0750 (+4.7%) and aluminum at $2,337.00 (+2.8%).

Divergence was evident as energy commodity subcategories moved in opposite directions; the petroleum sector rose and the methane sector fell. Closing prices and their respective movements were as follows: WTI crude at $69.26 per barrel (+3.5%), Brent crude at $74.99 (+2.8%), heating oil at $2.6952 per gallon (+0.6%), and RBOB gasoline at $2.5885 (+3.5%), NYMEX natural gas at $2.216 per MMBtu (-5.2%) and ICE TTF Dutch gas at €41.094 per MWh (-4.1%). Looking back at the charts, the last time global natural gas prices last saw such lows was before Russia invaded Ukraine.

Of the nine agricultural futures prices on our watch list, four rose and five sold off. The gainers were: corn at $6.43 (+1.4%), coffee at $1.7925 per pound (+1.5%), sugar at 20.82¢ (+0.7%), and cocoa at $2,884 (+1.3%). Soybeans fell into the red, ending at $14.28¼ (-3.3%), along with wheat at $6.88½ (-3.1%), cotton at 76.54¢ (-0.4%), cattle at 163.000 (-1.2%) and lean hogs at 77.175 (-8.7%).

Futures Referenced in Market Recap

ExchangeCommodityContract Month
CMELive CattleApril
CMELean HogsApril
ICEBrent CrudeMay
ICEDutch TTF GasApril
ICEUSD IndexJune
NYMEXULSD (Heating Oil)April
NYMEXRBOB (Gasoline)April
NYMEXNatural GasApril
LMEAluminum3 Mo. Forward

Trading futures and forex involves significant risk of loss and is not suitable for everyone.

Scroll to Top

Privacy Policy

WorldCupChampionships.com (WCC) is committed to protecting your privacy. The information we collect from you comes primarily from requests for more information and includes contact information. It is necessary for us to obtain this information in order to fulfill requests for more information and to provide you with email notification services.  Although we provide secure areas on our site for you to enter your information, you may provide required information over the telephone or via email if you prefer. We maintain physical, electronic, and procedural safeguards to maintain the confidentiality of your information, and use reasonable security methods to protect the data that resides on our servers.


Access to information about you is provided only to entities affiliated with WorldCupChampionships.com and to those employees and authorized agents who need to know that information in order to provide requested products and services to you. We will not disclose your personal information to any other source, except when authorized by you or when we believe in good faith that we are required to do so by law or in order to protect our rights or property.


We may also disclose your personal information to third parties in the normal course of business, including but not limited to: (i) payment networks, and the members of such networks; (ii) electronic funds transfer networks; (iii) clearing and settlement banks; (iv) service companies that perform business operations for WCC, including but not limited to account statement preparation and mailing services; (v) courts, independent auditors, law enforcement agencies and other governmental authorities, regulatory bodies or agencies in response to subpoenas, to prevent fraud, during the course of an audit or examination or as required by law; and (vi) collection agencies, credit reporting agencies, business credit bureaus or other parties associated in collecting any debt owed to us.


Service companies also are prohibited from using personal information for any reason other than to provide the specific products or services intended. WCC reserves the right to transfer personal information in connection with the sale of all or part of its business or assets.


We use cookies (small data files containing information) to improve the functionality of our web site and enhance the member experience. The usage information we compile assists us in maintaining and improving our site.


WCC limits the collection of data to that which is necessary, and will only use personal data for the legitimate purpose for which the personal data is collected. Upon request, WCC will delete or transfer any personal data with consideration to regulatory restrictions and/or requirements imposed by the NFA (National Futures Association), CFTC (Commodity Futures Trading Commission), FINRA (Financial Industry Regulatory Authority) or other governing bodies and regulatory agencies.


All data processing is for a legitimate purpose. For regulatory purposes, WCC retains certain information pertaining to persons who access our system. WCC collects information in order to provide requested information about our services, which primarily includes only name, email address and telephone number. In certain cases we may collect other data used to send customized offers based on information you provide regarding your interests.


Periodically, we may invite you to participate in various promotions and offers offered by WorldCupChampionships.com or other sponsoring organizations. Your participation may require us to gather and share your personal information or may require you to provide personal information to the promotion sponsor. Participation in such programs will always be your choice.


We are not responsible for the privacy policies or the content of sites we link to and have no control over the use or protection of information provided by you or collected by those sites. Whenever you elect to link to another web site, you may be asked to provide registration or other personal information. Remember, the information you are providing is going to a third party, and you should familiarize yourself with the privacy policy provided by that third party.



Information collected may be retained for a period of five (5) years or more, depending on whether the information is transactional, marketing related or falls under requirements set forth by regulatory or government bodies including, but not limited to, the NFA, CFTC, or FINRA.



Designated personnel have access to personal data stored by WCC. Additionally relevant client designated administrators may be granted access to personal data pertaining to the client’s employees. In some cases third-party vendors of WCC  (such as IT consultants) may need to access this data, however in all cases they will be required to comply with internal WCC Information Security Policies and Procedures.  You have the right to receive from WCC confirmation on whether your personal data has been processed or whether WCC holds your personal data.  Upon request, WCC will provide you with the personal data that WCC has regarding you.



WCC respects your rights as a data subject.


Transparency, information, and answers to requests: WCC adheres to the principle of transparency in processing.  For any questions regarding this policy, you may contact us at  info@worldcupchampionships.com. We will respond without undue delay and in any case within one week upon receipt of the request.


Access: You have the right to receive from WCC confirmation on whether your personal data has been processed or whether WCC holds your personal data.  Upon request, WCC will provide you with the personal data that WCC has regarding you.


Rectification: You have the right to require the rectification of inaccurate data relating to you without undue delay, as well as incomplete data if necessary for processing.


Erasure: You have the right to ask for the erasure of personal data concerning you without undue delay.  WCC will not proceed with the erasure of personal data if the data must be maintained for a legal obligation or in cases where the processing is required for the establishment, exercise or defense of legal claims.


Restriction of Processing: You have the right to request a restriction of processing if the accuracy of personal data is disputed, for that period of time that allows WCC to verify the accuracy of personal data or based on any other legitimate reason specified in applicable Data Protection Laws.


Data Portability: If technically feasible, you have the right to receive your personal data in a structured, commonly used and machine-readable fashion as well as the right to request the direct transmission of personal data by WCC to another party.


Right to Object: If you receive promotional emails, you can remove yourself from the recipient’s list by selecting the “unsubscribe” link within the email content.


Complaint to Supervisory Authority: You have the right to lodge a complaint with a supervisory authority, in particular in the country of your habitual residence, place of work or place of the alleged infringement if you consider that the processing of your personal data infringes Data Privacy Laws.

We may amend this privacy statement at any time, and will post the amended version on our website www.worldcupchampionships.com.



Your choice to use our website, enter our trading competitions, and/or to allow the downloading of cookies via your browser constitutes consent to this policy and consent to the use of your information as described.



Our GDPR Compliance Statement is incorporated into this Privacy Policy.

Besides strengthening and standardizing user data privacy across the EU nations, GDPR imposes new or additional obligations on all organizations that handle EU citizens’ personal data, regardless of where the organizations themselves are located.


You have complete control over the emails you receive from us. WCC provides various notifications via email, including service-related communications, account-related notifications, informational messages, and other updates through a third-party provider. Subscribers may discontinue email communications by responding with “unsubscribe” in the subject line or clicking on the unsubscribe link in email communications.


It is your responsibility to maintain the accuracy and completeness of your account information.  You may also contact us at info@WorldCupChampionships.com or call us at 877-456-7111 to inquire about or update your account information.