Closing changes: Stoxx 600 -1.2% German DAX -1.1% UK FTSE 100 -0.8% French CAC -1.5% Italy MIB -1.3% Spain IBEX -0.9% Midway through Friday it looked like European stocks might be turning the corner but one-and-a-half trading days later, it’s right back into the dead zone. The rise in European yields certainly hasn’t helped. German
Month: September 2023
In today’s rather subdued trading sessions, most of the movements in the financial markets are limited. European indexes are somewhat in red, albeit with contained losses for the time being. Meanwhile, yields in US and Europe have experienced a minor increase. In the currency sphere, Sterling is mildly weaker, closely followed by Dollar and Euro.
The auto workers’ strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist. So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy. But it is part of a pattern
Share: The European Central Bank’s (ECB) Slovakian policymaker Peter Kazimir said on Monday, “I wish is that September rate hike was the last but can’t rule out further rate increases.” Additional quotes “Only the March forecast can confirm that we are heading unequivocally towards our inflation goal.” “End of rate hikes to open debate on
Last week, we got another set of good economic data for the US with signs of further disinflation in the core inflation measures. The soft-landing narrative should be in full swing with resilient labour market, lower inflation, and lower inflation expectations. Nonetheless, the S&P 500 price action remains rangebound, and at this point it might
At the beginning of the week, COMEX Gold saw some positive movement as the greenback weakened, triggered by Bank of Japan Governor Kazuo Ueda’s remarks hinting at possible policy shifts based on wage data by year-end. This spurred a rally in the Yen and Japanese government bonds. However, the dollar index has since gained momentum,
This is via the latest publication from the Chinese central bank and it’s not entirely clear if they mean after the yuan has bottomed out or if they are hinting that it already has. But at least in the past week, they have shown that they are quite willing to stop the rot in the
Trading activity on Binance.US has reached new lows in September, as the crypto exchange faces unprecedented challenges. On Sep. 16, exchange volume stood at $5.09 million on Binance.US, as reported by Amberdata on The Tie Terminal. The lowest point for the month was on Sep. 9, when trading activity totaled $2.97 million. This is a significant
Share: GBP/JPY looking down a steep hill as the pair loses ground near 183.00. Data-packed economic calendar for the UK in the bottom half of next week. GBP struggles to find a floor on mixed UK data souring investor appetite. The GBP/JPY has struggled to develop meaningful momentum in recent weeks, and the Guppy is
The major US stock indices are trading at session lows as European traders start to look for the exits for the week. The NASDAQ index is now down around 1.3%. The S&P index is down -0.89%. All the major indices are back below its 50 day moving averages after closing above those moving averages yesterday.
Oil prices hit a 10-month high on Friday and posted a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude. Brent crude futures rose 23 cents, or 0.3%, to settle at $93.93 a barrel, while U.S. West Texas Intermediate futures was up 61
UPCOMING EVENTS: Monday: NZ Services PMI, US NAHB Housing Market Index. Tuesday: RBA Meeting Minutes, Canada CPI, US Building Permits and Housing Starts. Wednesday: PBoC LPR, UK CPI, BoC Summary of Deliberations, FOMC Policy Decision. Thursday: NZ GDP, SNB Policy Decision, BoE Policy Decision, US Jobless Claims. Friday: Japan CPI, BoJ Policy Decision, UK Retail
Share: USD/NOK saw green on Friday, rising 0.50% above 10.788. Investors expect the NB to deliver a 25 basis point hike to 4.25% next week. The Fed decision will likely be a pause next Wednesday. On the last day of the week, the USD/NOK gained additional traction, rising to multi-month highs above 10.788. On the NOK’s side, Norges
The AUDUSD traded at the week’s low on Monday in the 1st hour of trading at 0.63706. The price moved sharply higher on that day, but by Wednesday, the price had rotated back down toward the lows into a swing area between 0.63791 and 0.63874. Support buyers came in against that level and pushed the
As the festival of Ganesh Chaturthi will be celebrated on Tuesday, September 19 it will mark the beginning of a long festive season in India, gold could likely take a break from the ongoing bearish undertones in the medium term. The domestic prices are expected to remain steady on festive buying and a stronger dollar
The broader major indices closed sharply lower today led by the NASDAQ index which fell -1.56%. The S&P index fell -1.22%. The declines push the indices into the red for the trading week. The Dow industrial average fell -0.83%. For the trading week, Dow industrial average closed up 0.12% S&P index fell -0.16% NASDAQ index
Top Stories This Week Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee The Bitcoin miner who received 19.8 BTC in fees from blockchain infrastructure firm Paxos has returned the funds following Paxos’ claim that it made a mistake in paying over $500,000 in transfer fees. On Sept. 10, Paxos paid the six-figure
Share: S&P 500 closes down at 4450.32, losing 1.22%, as Technology, Consumer Discretionary, and Energy sectors led the decline. Upbeat US economic data, including a rise in the Empire State Manufacturing Index, fuels optimism that the Fed may achieve a soft landing. US 10-year Treasury yields climb to 4.334%, adding to market jitters, while WTI
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