Fundamental Analysis from IFC Markets

[IFC Markets]

Top daily news​

Global stock markets are mostly falling today after US stocks finished lower Tuesday as investors returned from Labor Day holiday with dollar firm amid higher demand for safe havens. Microsoft slid 0.32% Tuesday amid news the tech giant has purchased in-browser video editing software startup Clipchamp, Apple stock rose 1.55% outperforming market.

Forex news​

urrency Pair	Change
EUR USD	-0.17%
GBP USD	-0.03%
USD JPY	-0.23%
AUD USD	-0.59%

The Dollar strengthening continues currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.3% Tuesday.

Both GBP/USD and EUR/USD accelerated sliding yesterday after Germany’s ZEW survey of economic sentiment for September showed investor morale fell more than expected in August. Both pairs are lower currently. AUD/USD accelerated retreating Tuesday while USD/JPY continued climbing with Australian dollar lower against the Greenback currently and yen higher.

Stock Market news​

Indices	Change
Dow Jones Index	-0.65%
Nikkei Index	+0.81%
Hang Seng Index	-0.48%
Australian Stock Index	-0.65%

Futures on three main US stock indexes are down currently ahead of Federal Open Market Committee member William’s speech at a webinar hosted by St. Lawrence University at 19:10 CET today. The yield on benchmark 10-year US notes hover around 1.36% currently compared to a US close of 1.371% on Tuesday. Stock indexes in US ended mixed Tuesday with Nasdaq ending at record high: the three main US stock indexes posted returns ranging from -0.76% to +0.07%.

European stock indexes are sharply lower currently after a down session on Tuesday with chemicals companies shares leading losses. Investors are watching a flurry of telecom deals led by Deutsche Telekom which struck a share-swap deal with SoftBank Group to increase its stake in US unit T-Mobile. Asian indexes are mostly lower today with Nikkei bucking the general trend after the Japanese government revised upward the second quarter gross domestic product growth figures, beating expectations.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.51%
WTI Crude	+0.5%

Brent is retracing higher today as US Gulf of Mexico production restart after the hurricane Ida is proceeding slower than expected. Oil prices ended lower on Tuesday pressured by Saudi Arabia’s move on Sunday to cut the price for all crude grades sold to Asia by at least US$1 a barrel. The US oil benchmark West Texas Intermediate (WTI) dropped 1.4% Tuesday but is higher currently. Brent crude lost 0.7% to $71.69 a barrel.

Gold Market News​

Metals	Change
Gold	+0.23%

Gold prices are rebounding today. December gold fell 1.9% to $1,798.50 an ounce Tuesday after posting a fourth consecutive weekly gain last Friday. US trading was closed Monday for the Labor Day holiday.

 

[IFC Markets]

Top daily news​

Stock index futures are mostly in red currently ahead of European Central Bank decision today after Wall Street retreated on Wednesday following mixed US reports. Amazon shares added 0.46% outperforming market amid reports the online shopping giant paid £492m in UK tax in 2020 as its sales rose 50% to £20.63bn, Tesla gained 0.13% Wednesday.

Forex news​

Currency Pair	Change
EUR USD	-0.13%
GBP USD	-0.26%
USD JPY	-0.1%
AUD USD	+0.16%

The Dollar strengthening has halted currently ahead of the US Labor Department report at 14:30 CET expected to show 343 thousand Americans sought unemployment benefits over the last week, little changed from 340 thousand the previous week. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.3% Wednesday.

Both EUR/USD and GBP/USD added to their losses on Wednesday after reports French trade deficit and Italian retail sales were both worse than expected in July. Both pairs are lower currently. USD/JPY ended little changed on Wednesday while AUD/USD continued sliding with the yen higher against the Greenback currently and Australian dollar lower still.

Stock Market news​

Indices	Change
Dow Jones Index	-0.37%
Nikkei Index	-0.31%
Hang Seng Index	-1.38%
Australian Stock Index	-1.65%

The US stock index futures are down currently ahead of speeches and remarks today by several Federal Open Market Committee members starting by Bank of San Francisco President Mary Daly’s virtual panel discussion scheduled for 17:05 CET. The three main US stock indexes booked losses Wednesday ranging from -0.13% to -0.57% as Federal Reserve’s Beige Book report said US economic growth "downshifted slightly" in July and August amid shortages of workers and materials.

European stock indexes are extending losses currently after ending down Wednesday with autos shares leading losses. The European Central Bank today is expected to announce at 13:45 CET a cut to the pace of its emergency bond purchases from next quarter. Asian stock indexes are mixed today with Shanghai Composite leading gains despite sharp drops in tech giants like Tencent and Netease after reports China’s government on Wednesday summoned gaming firms to ensure they implement new rules for the sector.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.2%
WTI Crude	+0.44%

Brent is extending gains currently ahead of Energy Information Administration report on US domestic crude stockpile at 17:00 CET. Prices ended up Wednesday amid reports about 77% of US Gulf production remained offline on Tuesday, or about 1.4 million barrels per day (bpd). The US oil benchmark West Texas Intermediate (WTI) futures rose 1.4% and is higher currently. Brent crude added 1.3% to $72.60 a barrel on Wednesday.

Gold Market News​

Metals	Change
Gold	+0.2%

Gold prices are edging higher currently. December gold slid 0.3% to $1793.50 an ounce on Wednesday.

 

[IFC Markets]

Top daily news​

Equity index futures are up currently with market sentiment boosted by news of 90-minute call between leaders Xi Jinping and Joe Biden ahead of US producer prices report today at 14:30 CET after Wall Street finished down again on Thursday. Ford shares lost 2.07% underperforming market after the auto maker said will stop manufacturing cars in India and expects to record a $2 billion restructuring charge, Facebook shares added 0.11% on Thursday while Australia’s highest court ruled media companies are liable for the comments that Facebook users post under their articles.

Forex news​

Currency Pair	Change
EUR USD	+0.56%
GBP USD	+0.82%
USD JPY	+0.12%
AUD USD	+0.54%

The Dollar weakening continues currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.3% Thursday despite the US Labor Department report 310 thousand Americans sought unemployment benefits over the last week, down from 345 thousand the previous week.

Both GBP/USD and EUR/USD reversed their sliding Thursday as the European Central Bank kept its monetary policy unchanged but announced would slow down the pace of net asset purchases under its pandemic emergency purchase program. Both pairs are higher against the Dollar currently. USD/JPY reversed its advancing yesterday while AUD/USD ended little changed with yen lower against the Greenback currently while the Australian dollar is higher.

Stock Market news​

Indices	Change
Dow Jones Index	+0.46%
Nikkei Index	+1.25%
Hang Seng Index	+1.44%
Australian Stock Index	+1.31%

Futures on three main US stock indexes are up currently with US 10-year Treasury note yields inching up to 1.311%. The three main US stock benchmarks ended lower Thursday despite better weekly jobless claim data: they recorded daily losses in the range of -0.25% to -0.46%.

European stock indexes are higher currently following ECB’s revision upward of the euro zone’s growth forecast for this year . Indexes closed down Thursday with basic resources shares leading losses. Asian indexes are mostly higher today with Hong Kong’s Hang Seng leading gains in dip buying after the selloff the previous day.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+1.97%
WTI Crude	+1.93%

Brent is edging higher currently. Prices fell yesterday as China announced plan to release state oil reserves in order to help domestic refiners control costs. At the same time the Energy Information Agency reported US domestic crude stockpiles declined by smaller than expected 1.5 million barrels las week. The US oil benchmark West Texas Intermediate (WTI) futures fell 1.7% but is higher currently. Brent crude lost 1.6% to $71.45 a barrel on Thursday.

Gold Market News​

Metals	Change
Gold	+0.45%

Gold prices are extending gains today. Spot gold added 0.3% to $1,793.97 an ounce on Thursday, rebounding after a three-session loss stretch.

 

[IFC Markets]

Top daily news​

Global equities are mixed currently while 10-year US Treasury note yields edged down to 1.334% after Wall Street closed lower Friday following higher US wholesales price data. Apple shares fell 3.31% underperforming market after court ruling in Fortnite-maker Epic Games trial Apple cannot stop app developers directing users to third-party payment options, Facebook shares added 0.18% Friday after the social network giant announced it would buy $100 million worth of unpaid invoices from 30,000 small businesses owned by women and minorities.

Forex news​

Currency Pair	Change
EUR USD	-0.21%
GBP USD	-0.44%
USD JPY	+0.9%
AUD USD	-0.43%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.1% on Friday after Bureau of Labor Statistics report US producer prices posted another record increase in August.

Both EUR/USD and GBP/USD reversed their climbing Friday while INSE French statistics institute reported the French industrial output growth in July slowed a tad more than forecast. Both pairs are lower currently. USD/JPY reversed its sliding Friday while AUD/USD declined further with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	0.23%
Nikkei Index	+0.81%
Hang Seng Index	-1.23%
Australian Stock Index	+0.45%

Futures on US equity benchmarks are up currently ahead of Federal Budget report due at 20:00 CET today. The Wall Street ended down Friday after data showed producer price index (PPI) jumped 8.3% from August 2020, not seasonally adjusted, the biggest increase since the data was first collected in November 2010: the three main US stock benchmarks recorded daily losses ranging from --0.46% to -0.25%.

European stock indexes are rising currently after ending lower on Friday with utilities shares leading the losses. Asian indexes are mixed today with Hong Kong’s Hang Seng Index leading losses amid reports Beijing aimed to break up Alipay, the hugely popular payments app owned by Jack Ma’s Ant Group.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.03%
WTI Crude	+0.61%

Brent is extending gains currently. Prices rose on Friday amid concerns over supply tightness in the United States as a result of Hurricane Ida. West Texas Intermediate (WTI) futures fell 1% and is lower currently. September Brent crude lost 0.6% to $72.61 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	-0.11%

Gold prices are edging lower today. December gold slid 0.4% settling at $1792.10 an ounce on Friday – logging first weekly loss in five weeks.

 

[IFC Markets]

Top daily news​

Equity index futures point in different directions currently ahead of US consumer inflation August report after Wall Street ended mostly higher on Monday. Microsoft shares gained 0.43% after reports Microsoft and IT major Infosys have entered into a multi-year strategic engagement with Australia’s Ausgrid which includes strategic cloud transformation, Tesla shares rose 0.9% on Monday outperforming market.

Forex news​

Currency Pair	Change
EUR USD	+0.15%
GBP USD	+0.89%
USD JPY	-0.01%
AUD USD	-0.51%

The Dollar strengthening has halted currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped less than 0.1% on Monday.

GBP/USD reversed its sliding Monday while EUR/USD continued retreating despite federal statistics office Destatis report German whole prices inflation continued accelerating in August. Both Pound and Euro are higher against the Dollar currently. AUD/USD reversed its sliding Monday while USD/JPY continued advancing with both the Australian dollar lower against the Greenback currently while yen is higher.

Stock Market news​

Indices	Change
Dow Jones Index	+0.11%
Nikkei Index	+0.07%
Hang Seng Index	-1.31%
Australian Stock Index	+0.22%

Futures on three main US stock indexes are up currently ahead of the Bureau of Labor Statistics consumer inflation data at 14:30 CET today expected to show inflation ticked down in August. The three major Wall Street stock benchmarks ended mixed Monday, recording daily returns in the range of -0.1% to +0.8%.

European stock indexes are down currently after ending higher Monday with oil and gas shares leading gains. Asian indexes are mixed today with Hong Kong’s Heng Seng Index leading losses as China Evergrande Group slumped to lowest prices since 2014 after the real estate developer said it had appointed financial advisers to examine its capital structure.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.7%
WTI Crude	+0.63%

Brent is edging higher currently ahead of data from the American Petroleum Institute later today. Prices closed higher Monday as another storm approaching US coast could affect output in Texas while US output is far from having been restored after Hurricane Ida. US West Texas Intermediate WTI rose 1.1% and is higher currently. November Brent added 0.8% to $73.51 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	-0.18%

Gold prices are edging lower currently. December gold added 0.1% to $1794.40 an ounce on Monday trading as high as $1,800.20 during the session.

 

[IFC Markets]

Top daily news​

Stock index futures are mostly in red currently ahead of US retail sales report at 14:30 CET today after Wall Street rebounded on Wednesday. Microsoft shares rallied 1.68% outperforming market as the software giant announced plans to buy back up to $60 billion in stock - its largest ever stock repurchase program, Facebook lost 0.69% Wednesday amid critical reports Facebook-owned Instagram kept secret its internal studies showing teenagers blamed Instagram for increased levels of anxiety and depression.

Forex news​

Currency Pair	Change
EUR USD	-0.29%
GBP USD	-0.44%
USD JPY	-0.52%
AUD USD	-0.02%

The Dollar strengthening has resumed currently ahead of the US Labor Department report at 14:30 CET expected to show 325 thousand Americans sought unemployment benefits over the last week, up from 310 thousand the previous week. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.2% Wednesday.

Both EUR/USD and GBP/USD reversed their sliding on Wednesday after data showed UK inflation soared to a nine-year high in August. Both pairs are lower currently. USD/JPY continued sliding Wednesday while AUD/USD reversed it retreating with the yen higher against the Greenback currently and Australian dollar lower after data showed employment in Australia fell sharply in August.

Stock Market news​

Indices	Change
Dow Jones Index	-0.01%
Nikkei Index	-0.79%
Hang Seng Index	-1.4%
Australian Stock Index	-0.42%

The US stock index futures are mixed currently with the 10-year US Treasuries note yields down at 1.296%. The three main US stock indexes booked gains Wednesday ranging from 0.68% to 0.85% as Federal Reserve reported the US industrial production growth slowed less than forecast in August.

European stock indexes are mixed currently after ending down Wednesday with utilities shares leading losses. Asian stock indexes are mostly in red today with Hong Kong’s Hang Seng Index leading declines again dragged by Chinese property developers’ shares as China Evergrande Group - with total liabilities of more than $300 billion - unable to raise sufficient funds to pay its lenders and suppliers, applied to suspend trading of its main unit’s onshore corporate bonds following a downgrade.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.03%
WTI Crude	-0.21%

Brent is edging lower currently. Prices ended sharply up Wednesday after the US Energy Information Administration reported domestic crude stockpile fell more than expected last week. The US oil benchmark West Texas Intermediate (WTI) futures jumped 3.1% but is lower currently. Brent crude rose 2.5% to $75.46 a barrel on Wednesday.

Gold Market News​

Metals	Change
Gold	-0.54%

Gold prices are edging lower currently. December gold slid 0.7% to $1794.80 an ounce on Wednesday after back-to-back session gains.

 

[IFC Markets]

Top daily news​

Equity index futures are up currently ahead of University of Michigan Consumer Sentiment preliminary report today at 16:00 CET after Wall Street finished down on Thursday following mixed economic data. Twitter shares added 0.73% outperforming market despite rapper Nicki Minaj telling her Instagram followers on Wednesday that she had been placed in "Twitter jail" and will never use Twitter again following her Monday tweet challenging COVID vaccine mandate, Amazon shares gained 0.36% on Thursday.

Forex news​

Currency Pair	Change
EUR USD	+0.29%
GBP USD	+0.27%
USD JPY	+0.05%
AUD USD	+0.03%

The Dollar strengthening has halted currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.5% Thursday despite the US Labor Department report 332 thousand Americans sought unemployment benefits over the last week, up from 310 thousand the previous week.

Both GBP/USD and EUR/USD reversed their climbing Thursday as the Eurostat reported smaller than expected euro zone trade surplus for July. Both pairs are higher currently. USD/JPY reversed its sliding yesterday while AUD/USD reversed its climbing with yen lower against the Greenback currently while the Australian dollar is higher.

Stock Market news​

Indices	Change
Dow Jones Index	+0.21%
Nikkei Index	+0.4%
Hang Seng Index	+1.16%
Australian Stock Index	-0.23%

Futures on three main US stock indexes are up currently with US 10-year Treasury note yields inching up to 1.333%. The three main US stock benchmarks ended mixed Thursday as retail sales rebounded when another decline was expected while initial jobless claims for last week were above forecasts: indexes recorded daily returns in the range of -0.18% to +0.13%.

European stock indexes are higher currently after closing up Thursday led by travel and leisure shares. Asian indexes are mostly higher today with Hong Kong’s Hang Seng leading gains in dip buying after the selloff the previous day.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.53%
WTI Crude	-0.66%

Brent is edging lower currently. Prices rose yesterday amid reports US energy companies kept 28% of US Gulf of Mexico crude oil production shut, or 513,8 thousand barrels daily, as of Thursday after Hurricane Ida hit platforms in the region.. The US oil benchmark West Texas Intermediate (WTI) ended flat but is lower currently. Brent crude added 0.2% to $75.67 a barrel on Thursday.

Gold Market News​

Metals	Change
Gold	+0.46%

Gold prices are edging higher today . December gold slumped 2.5% to $1,749.40 an ounce on Thursday, the sharpest daily drop in nearly six weeks.

 

[IFC Markets]

Top daily news​

Stocks are in red currently with Asian markets sharply down dragged by China Evergrande plunge after Wall Street closed solidly lower Friday following weak University of Michigan report. Amazon shares fell 0.74% amid reports the Teamsters Union has launched campaigns to organize employees in at least nine Canadian facilities of the e-commerce giant, Apple shares lost 1.83% Friday underperforming market.

Forex news​

Currency Pair	Change
EUR USD	-0.16%
GBP USD	-0.46%
USD JPY	-0.23%
AUD USD	+0.31%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.4% on Friday despite University of Michigan report US consumer sentiment index rose less than expected in September.

Both EUR/USD and GBP/USD continued their sliding Friday after Office for National Statistics report UK retail sales fell unexpectedly in August. Both pairs are lower currently. USD/JPY continued its climbing Friday while AUD/USD declined further with both the Australian dollar lower against the Greenback currently and yen higher.

Stock Market news​

Indices	Change
Dow Jones Index	-1.03%
GB 100 Index	-3.01%
Hang Seng Index	-2.97%
Australian Stock Index	-2.31%

Futures on US equity benchmarks are down currently ahead of National Association of Home Builders report due at 16:00 CET today. The Wall Street ended down Friday after University of Michigan data showed consumer sentiment improved albeit less than expected in September: the three main US stock benchmarks recorded daily losses ranging from --0.91% to -0.48%.

European stock indexes are sharply down currently after ending lower on Friday led by basic resources shares. Asian indexes are falling today in thin trading with markets in Japan, China closed for a holiday. Hong Kong’s Hang Seng Index is leading losses as shares of Evergrande plunged as much as 19% to their lowest in over 11 years as investors doubt the developer with $305 billion of liabilities can pay $83.5 million interest on September 23 for its March 2022 bond.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.64%
WTI Crude	-1.23%

Brent is extending losses currently. Prices fell on Friday as concerns over supply tightness in the United States eased with 72% of US Gulf of Mexico crude output online after Hurricane Nicholas and Ida. West Texas Intermediate (WTI) futures fell 0.4% and is lower currently. September Brent crude lost 0.88% to $75.34 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	+0.01%

Gold prices are edging up today. Spot gold slid 33 cents settling at $1753.40 an ounce on Friday – logging third straight daily loss.

 

[IFC Markets]

Top daily news​

Equity index futures point in different directions currently ahead of Federal Reserve two-day meeting starting today after Wall Street ended sharply lower on Monday. Twitter shares lost 2.43% underperforming market after the microblogging giant said it will pay $809.5 million to settle shareholder lawsuit claiming that Twitter misled investors about how much its user base was growing which resulted in an inflated share price, Tesla shares fell 3.86% on Monday.

Forex news​

Currency Pair	Change
EUR USD	+0.05%
GBP USD	+0.17%
USD JPY	+0.13%
AUD USD	+0.33%

The Dollar strengthening has halted currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added less than 0.1% on Monday as National Association of Home Builders reported builder confidence inched up in September.

Both GBP/USD and EUR/USD continued retreating Monday while federal statistics office Destatis reported German producer prices inflation continued accelerating in August. Both Pound and Euro are higher against the Dollar currently. USD/JPY reversed its advancing Monday while AUD/USD continued sliding with the Australian dollar higher against the Greenback currently while yen is lower.

Stock Market news​

Indices	Change
Dow Jones Index	+0.73%
Nikkei Index	-0.48%
Hang Seng Index	+1.56%
Australian Stock Index	+1.09%

Futures on three main US stock indexes are up currently ahead of the Census Bureau housing data at 14:30 CET today. The three major Wall Street stock benchmarks ended solidly down Monday while Treasury prices rose as investors awaited central bank moves on tapering of its easy monetary policy, recording daily losses in the range of -2.19% to -0.1.7%.

European stock indexes are up currently after ending sharply lower Monday led by banking shares. Asian indexes are mixed today with Nikkei leading losses after Japanese markets reopened following a national holiday Monday. China Evergrande Group plummeted over 15% after earlier losing as much as 19% to over 11-year lows.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.68%
WTI Crude	+0.98%

Brent is edging higher currently ahead of data from the American Petroleum Institute later today. Prices closed solidly lower Monday. US West Texas Intermediate WTI fell 2.3% but is higher currently. November Brent lost 1.9% to $73.92 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	-0.01%

Gold prices are edging lower currently . December gold added 0.7% to $1763.80 an ounce on Monday, snapping a three-session losing streak.

 

[IFC Markets]

Top daily news​

Since the beginning of the week exchange activity has been minimal. Investors are looking forward to the next Fed meeting. They do not exclude a reduction in the monthly volume of redemption of US government and mortgage bonds, which is now $ 120 billion. At the same time, the Fed rate is likely to remain at the current level of 0.25%. The PRC authorities are likely to support China Evergrande Group, which is close to default. On Friday, Evergrande Group will need to pay $ 83 million in interest on the bonds. This will support the stock market, oil and industrial metals, and the yuan.

Forex news​

Currency Pair	Change
EUR USD	+0.02%
GBP USD	-0.12%
USD JPY	+0.26%
AUD USD	+0.15%

This morning, the US dollar index, for the third day in a row, continues to trade in a narrow range, in anticipation of the most important event - the next meeting of the U. S. Federal Reserve. The rate change (+ 0.25%) is not expected. However, investors do not exclude a reduction in the monthly volume of redemption of US government and mortgage bonds, which is now $ 120 billion. Note that the next Fed meeting will be held on November 3, and in October there will be no meetings. Existing Home Sales data for August will also be released in the US today. Yesterday's Building Permits & Housing Starts were positive. The Canadian dollar strengthened this morning thanks to the victory of the Liberal Party in the parliamentary elections. Canadian Prime Minister Justin Trudeau will now remain for a third term. Christian Hawkesby, deputy head (assistant governor) of the Reserve Bank of New Zealand (RBNZ), does not exclude that the rate hike may be 0.25%, not 0.5% as investors expected. This could hinder the strengthening of the New Zealand dollar. Remember that the next meeting of RBNZ will take place on October 6.

Stock Market news​

Indices	Change
Dow Jones Index	-0.15%
S&P 500	-0.08%
Nasdaq 100	+0.22%
US Dollar Index	+0.06%

There was no single trend on the American stock market yesterday. The Nasdaq rallied and the S&P 500 fell for the 4th time in a row. A possible tightening of the Fed's monetary policy in the form of a reduction in the monthly volume of redemption of US bonds is positive for the dollar and negative for stock prices. This morning, futures for US stocks rose markedly on the back of the rise in Chinese indices after the weekend in China. Investors hope that the PRC authorities will provide support to China Evergrande Group, which is close to default. On Friday, Evergrande Group will need to pay $ 83 million in interest on the bonds. In addition, yesterday's good data on the US residential real estate market reduced the likelihood of a slowdown in the US economy. British company Royal Dutch Shell (+ 1.8%) announced the sale of US shale assets in the amount of $ 9.5 billion. This caused an increase in the shares of American oil companies ConocoPhillips (+ 4%), EOG Resources (+ 1%), Marathon Petroleum (+ 1.2%). Walt Disney (-4.2%) announced a delay in the implementation of several of its commercial projects due to the new outbreak of the coronavirus. This was the main factor behind the decline in the S&P 500 and Dow indices.

Commodity Market news​

Commodities	Change
WTI Crude	+1.6%
Brent Crude Oil	+1.4%

Today world oil prices are growing for the second day in a row. The independent American Petroleum Institute announced a decline in US oil reserves for the week by 6.1 million barrels. The decline in inventories has been observed for 9 consecutive weeks. An additional positive for oil was the information that the recovery in production in the Gulf of Mexico after Hurricane Ida is slower than expected. More than three weeks have passed, but oil production there is still 18% less than usual. Reducing default risks China Evergrande also supported oil prices.

Gold Market News​

Metals	Change
Gold	-0.18%
Silver/US Dollar	+0.33%

Gold quotes have been increasing for the third day in a row, but they are still below the psychological level of $ 1800 per ounce. Investors are awaiting the outcome of today's Fed meeting.

 

[IFC Markets]

Markets cheer up after Evergrande domestic debt deal - 23.9.2021
​

Top daily news​

Stock index futures are gaining currently ahead of US Manufacturing PMI flash report at 15:45 CET today after Wall Street rebounded on Wednesday as China Evergrande unit said it had “resolved” a coupon payment on an onshore bond. Facebook lost 3.99% Wednesday after it warned that Apple's iPhone privacy changes, which allow users to block tracking, will reduce advertising revenues because less data can be collected, Apple shares rallied 1.69% outperforming market.

Forex news​

Currency Pair	Change
EUR USD	+0.1%
GBP USD	+0.28%
USD JPY	+0.16%
AUD USD	+0.34%

The Dollar strengthening has stalled currently ahead of the US Labor Department report at 14:30 CET expected to show 322 thousand Americans sought unemployment benefits over the last week, down from 332 thousand the previous week. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% Wednesday.

EUR/USD joined GBP/USD’s continued sliding on Wednesday despite data showed euro zone consumer confidence improved in September when a further decline was expected. Both pairs are higher currently. Both USD/JPY and AUD/USD reversed their retreating Wednesday with the Australian dollar higher against the Greenback currently and yen lower still.

​

Stock Market news​

Indices	Change
Dow Jones Index	+0.39%
Nikkei Index	-0.67%
Hang Seng Index	+0.58%
Australian Stock Index	+0.4%

The US stock index futures are up currently with the 10-year US Treasuries note yields down at 1.302%. The three main US stock indexes booked gains Wednesday ranging from 0.95% to 1.02% as Federal Reserve kept the key borrowing benchmark rate at 0-0.25 percent while signaling the reduction of its $120 billion monthly bond purchases was closer than ever.

European stock indexes are rising currently after ending up Wednesday led by banking shares. Asian stock indexes are mostly rising today with Nikkei defying the general trend.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.57%
WTI Crude	+0.48%

Brent is extending gains currently. Prices ended sharply up Wednesday after the US Energy Information Administration reported domestic crude stockpile fell 3.6 million barrels last week to 414 million barrels, the lowest since October 2018. The US oil benchmark West Texas Intermediate (WTI) futures jumped 2.5% and is higher currently. Brent crude rose 2.5% to $76.19 a barrel on Wednesday.

Gold Market News​

Metals	Change
Gold	-0.14%

Gold prices are edging lower currently. Spot gold slid 0.3% to $1768.18 an ounce on Wednesday.

 

[IFC Markets]

Equities pause as Evergrande missed interest payment deadline - 24.9.2021​

Todays’ Market Summary​

• The Dollar strengthening has resumed currently
• Futures on three main US stock indexes are down
• Brent is edging higher currently
• Gold prices are edging higher today

​

Top daily news​

Equity index futures are in red currently ahead of Federal Reserve chair Powell’s opening remarks at an online event hosted by the Federal Reserve today at 16:00 CET with market sentiment undermined by Evergrande’s missing of an interest payment deadline on Thursday as the developer entered a 30-day grace period. Wall Street rebounded Thursday following mixed economic data. Amazon shares added 1.06% despite news e-commerce giant will face charges at labor board hearing September 28 that it illegally fired activist workers, Microsoft shares gained 0.33% on Thursday underperforming market.

Forex news
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Currency Pair	Change
EUR USD	-0.02%
GBP USD	-0.15%
USD JPY	+0.32%
AUD USD	-0.31%

The Dollar strengthening has resumed currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.5% Thursday after the US Labor Department report 351 thousand Americans sought unemployment benefits over the last week, up from 335 thousand the previous week.

Both GBP/USD and EUR/USD reversed their sliding Thursday as the Bank of England kept monetary policy unchanged and downgraded UK economic growth projections for the third quarter of this year. Both pairs are lower currently. Both USD/JPY and AUD/USD continued climbing yesterday with both yen and the Australian dollar lower against the Greenback currently.

Stock Market news
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Indices	Change
Dow Jones Index	-0.37%
Nikkei Index	-1.27%
Hang Seng Index	-1.7%
Australian Stock Index	-0.96%

Futures on three main US stock indexes are down currently with US 10-year Treasury note yields up at 1.442%. The three main US stock benchmarks ended solidly higher Thursday despite disappointing labor data - initial jobless claims for last week were above forecasts: indexes recorded daily gains in the range of 1.04% to 1.48%.

European stock indexes are lower currently after closing higher Thursday despite data showing that euro zone business activity grew at its slowest pace in five months in September. Asian indexes are mostly down today with Hong Kong’s Hang Seng leading losses after reports some offshore bondholders of China Evergrande had not received interest payments by the Thursday deadline - shares fell 11% after 17.6% rebound the previous day.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.12%
WTI Crude	+0.09%

Brent is edging higher currently. Prices rose yesterday to 2-month highs amid reports some members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies have struggled to ramp up production after low investments or delays in maintenance work during the pandemic. The US oil benchmark West Texas Intermediate (WTI) ended up 1.5% and is higher currently. Brent crude added 1.4% to $77.25 a barrel on Thursday.

Gold Market News​

Metals	Change
Gold	+0.73%

Gold prices are edging higher today . Spot gold slumped 1.4% to $1,742.84 an ounce on Thursday.

 

[IFC Markets]

Stocks falter as Evergrande uncertainty remains a drag - 27.9.2021​

Todays’ Market Summary​

• The Dollar strengthening has halted currently.
• Futures on US equity benchmarks are up currently
• Brent is extending gains currently.
• Gold prices are edging up

Top daily news​

Equities are mixed currently with yields on US 10-year Treasury notes hovering around 1.446% while China Evergrande uncertainty weighs on market sentiment as the developer missed a payment on offshore bonds last week. Wall Street closed mixed Friday. Tesla shares jumped 2.75% as Musk said Friday that the ongoing semiconductor crisis will be over by next year, Apple shares added 0.06% underperforming market.

Forex news​

Currency Pair	Change
EUR USD	-0.3%
GBP USD	+0.18%
USD JPY	+0.05%
AUD USD	+0.27%

The Dollar strengthening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.3% on Friday after US Census Bureau report new home sales beat market expectations for August.

Both EUR/USD and GBP/USD reversed their climbing Friday as the IFO Institute reported German business sentiment declined for the third consecutive month in September. Euro is lower against the Dollar currently while Pound is higher. USD/JPY continued its climbing Friday while AUD/USD reversed its advancing with the Australian dollar higher against the Greenback currently and yen lower.

Stock Market news​

Indices	Change
Dow Jones Index	+0.18%
Nikkei Index	-0.03%
Hang Seng Index	-0.37%
Australian Stock Index	+0.12%

Futures on US equity benchmarks are up currently ahead of durable goods orders report due at 14:30 CET today. The Wall Street ended mixed Friday as investors watched for progress on President Joe Biden's spending and budget bills: the three main US stock benchmarks recorded daily returns ranging from --0.3% to +0.15%.

European stock indexes are up currently after ending lower on Friday ahead of German federal elections on Sunday. Germany's center-left Social Democrats narrowly won their first national election since 2005 and are expected to start the process of trying to form a government after they ended 16 years of conservative-led rule under Angela Merkel. Asian indexes are mixed today with Shanghai Composite leading losses while China’s central bank added more liquidity to the financial system.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.09%
WTI Crude	+0.9%

Brent is extending gains currently. Prices rose on Friday amid concerns over supply tightness in the United States amid reports some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, face difficulties in raising output due to under-investment or maintenance delays during the pandemic. West Texas Intermediate (WTI) futures added 0.9% and is higher currently. Brent crude rose 1.1% to $78.09 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	+0.32%

Gold prices are edging up today. December gold slipped 0.1% settling at $1751.70 an ounce on Friday – logging an 0.02% gain for the week.

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[IFC Markets]

Today will be held ECB forum with the participation of the heads of world central banks - 29.9.2021
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Todays’ Market Summary​

• On Tuesday, the US dollar index rose for the third day in a row and hit a new high since November last year.
• Yesterday, the American stock market saw a decline in quotations.
• Today world oil prices are falling for the second day in a row awaiting the release of official data on inventories.
• Gold quotes fell slightly yesterday on the back of a strengthening US dollar and rising U.S.

​

Top daily news​

Investors hope that the U.S. The Federal Reserve will nevertheless begin to reduce the monthly volume of US government and mortgage bond buybacks, which now stands at $ 120 billion. The funds for this program are now coming from the emission of money, which is an important factor in the constant increase in inflation in the United States. On Tuesday, the US dollar index rose for the third day in a row and hit a new high since November last year. At the same time, a decline in quotations was observed on the American stock market. The daily fall in the S&P 500 was the highest since May 2021, and the Nasdaq since March. Yesterday, WTI quotes renewed a 3-year high, but then began to actively correct downward against the background of an unexpected reduction in US inventories.

Forex news​

Currency Pair	Change
EUR USD	-0.15%
GBP USD	-0.1%
USD JPY	-0.16%
AUD USD	+0.08%

On Tuesday, the US dollar index rose for the third day in a row and hit a new high since November last year. Investors hope that the U.S. The Federal Reserve will nevertheless begin to reduce the monthly volume of US government and mortgage bond buybacks, which now stands at $ 120 billion. The funds for this program are now coming from the emission of money, which is an important factor in the constant increase in inflation in the United States. Today, the European Central Bank (ECB) forum will take place, at which the heads of Fed (Jerome Powell), Bank of Japan, Bank of England, ECB itself and other officials will speak. The Japanese yen weakened against the US dollar to an 18-month low following the publication of the BoJ Monetary Policy Meeting Minutes. Investors fear that Bank of Japan will initiate additional easing of monetary policy amid continuing deflation. The British pound fell to its lowest level since January this year amid the energy crisis in Britain. The US dollar is correcting slightly down this morning. U.S. Treasury Secretary Janet Yellen expects US inflation to slow to 4% at the end of this year. This is still 2 times higher than the Fed's target of 2%. In August, the growth of consumer prices in the United States amounted to 5.3%.

Stock Market news​

Indices	Change
ow Jones Index	-1.63%
S&P 500	-2.04%
Nasdaq 100	-2.83%
US Dollar Index	+0.06%

Yesterday, the American stock market saw a decline in quotations. This was facilitated by rising yields on the 10-year U.S. Treasury up to 1.56% per annum, which is the maximum since June this year. Stocks and bonds often “compete” for investor funds. The daily fall in the S&P 500 was the highest since May 2021, and the Nasdaq since March. Additional negativity was the continued spread of the coronavirus, disagreements between Democrats and Republicans over an increase in the government debt limit for next year and weak economic data. Now the US national debt limit is $ 28.4 trillion. This is much more than the US GDP in 2020, which was $ 20.6 trillion. Potentially, a large national debt carries the risk of default. The CB Consumer Confidence indicator fell for the third time in a row in September (to its lowest since February) and was worse than expected. Pending Home Sales for August are due in the US today. Their outlook is negative. Nevertheless, futures for US stock indices are now growing in anticipation of the speech of the head of the Fed at the ECB forum.

Commodity Market news​

Commodities	Change
WTI Crude	-0.78%
Brent Crude Oil	-0.63%

Today world oil prices are falling for the second day in a row awaiting the release of official data on inventories. Yesterday, WTI quotes renewed their 3-year high, but then they began to actively correct downward. The independent American Petroleum Institute unexpectedly announced an increase in US oil reserves for the week by 4.1 million barrels. This happened for the first time after 9 weeks of continuous inventory reduction. Investors fear that a decrease in oil demand may be caused by the development of a new variant of the Delta coronavirus. An additional negative was the energy crises in Britain and China. From the point of view of technical analysis, Brent was unable to overcome the psychological level of $ 80 per barrel and this provoked a downward correction. As a reminder, the next OPEC + meeting will take place on October 4. So far, nothing new is expected. The cartel should increase production by 400 thousand barrels per day. US natural gas quotes yesterday renewed their maximum since December 2008. This was facilitated by the shortage of gas in Europe due to the delay in certification of the new Nord Stream 2 gas pipeline.

Gold Market News​

Metals	Change
Gold	+0.43%
Silver/US Dollar	-0.49%

Gold quotes fell slightly yesterday on the back of a strengthening US dollar and rising U.S. yields. Treasury. High inflation in the United States and the ongoing global coronavirus epidemic provide strong support for precious metals prices. Today's ECB Forum may affect the dynamics of exchange rates and gold quotes. Note that the U.S. is expected to speak on Thursday. Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen on the House Banking Committee.

​

 

[IFC Markets]

Markets depressed as Evergrande concerns weigh - 4.10.2021
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Todays’ Market Summary​

• The Dollar weakening has halted currently.
• Futures on US equity benchmarks are down currently
• Brent is retreating currently ahead of the meeting of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, where it is expected the cartel will continue unwinding output cuts.
• Gold prices are edging down

Top daily news​

Global equities are mostly in red currently after trading in China Evergrande was suspended last week as it missed a key interest payment on its offshore debt obligation for the second time. Wall Street closed higher Friday. Facebook shares gained 1.07% underperforming market, Tesla shares slipped 0.1% Friday before the electric vehicle maker reported a 64% increase over year in third quarter production on Saturday.

Forex news​

Currency Pair	Change
EUR USD	+0.11%
GBP USD	-0.21%
USD JPY	+0.41%
AUD USD	+0.05%

The Dollar weakening has halted currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slid 0.3% on Friday despite US Bureau of Economic Analysis report showing inflation continued to inch higher in August.

EUR/USD joined GBP/USD continuing climbing Friday as the European Central Bank reported the euro zone inflation in September rose 3.4% on an annual basis, up from 3% in August. Euro is higher against the Dollar currently while Pound is lower. USD/JPY continued its sliding Friday while AUD/USD continued its advancing with the Australian dollar higher against the Greenback currently and yen lower.

Stock Market news​

Indices	Change
ow Jones Index	-0.63%
Nikkei Index	-1.13%
Hang Seng Index	-2.03%
Australian Stock Index	+0.64%

Futures on US equity benchmarks are down currently ahead of factory orders report due at 14:30 CET today. The Wall Street rebounded Friday as US economic data showed higher inflation, along with increased consumer spending and accelerating factory activity: the three main US stock benchmarks recorded daily gains ranging from 0.82% to 1.43%.

European stock indexes are down currently after ending lower on Friday led by mining shares. Asian indexes are mostly retreating today with markets in the Chinese mainland closed until Thursday. Hong Kong’s Hang Seng Index is leading losses amid concerns over growing risk that Evergrande’s default crisis may spread to the entire Chinese property sector.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.04%
WTI Crude	-0.03%

Brent is retreating currently ahead of the meeting of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, where it is expected the cartel will continue unwinding output cuts. OPEC+ is facing pressure from consumers including the United States and India to produce more as demand has recovered faster than anticipated. Prices rose on Friday despite energy services firm Baker Hughes report the number of active US oil rigs rose for a fourth week in a row. West Texas Intermediate (WTI) futures added 1.1% but is lower currently. Brent crude rose 1.2% to $79.28 a barrel on Friday.

Gold Market News​

Metals	Change
Gold	-0.5%

Gold prices are edging down today. December gold added 0.1% settling at $1758.40 an ounce on Friday – logging an 0.02% gain for the week.

 

[IFC Markets]

Global equities mixed after Wall Street selloff - 5.10.2021​

Todays’ Market Summary​

• The Dollar strengthening has resumed
• Futures on three main US stock indexes are up
• Brent is extending gains currently ahead of data from the American Petroleum Institute later today.
• Gold prices are retreating currently

Top daily news​

Equity index futures are mixed currently ahead of US ISM Services PMI report scheduled for 16:00 CET today after Wall Street selloff Monday. Facebook shares lost 4.9% after its Messenger app, Instagram, Whatsapp and other products were offline before a whistleblower testimony at a Senate hearing today how the company repeatedly chose "profit over safety" in its operations, Tesla shares rose 0.81% on Monday outperforming marrket despite news the electric vehicle maker must pay $137 million to black ex-worker over hostile work environment, racism.

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Forex news​

Currency Pair	Change
EUR USD	-0.2%
GBP USD	-0.42%
USD JPY	+0.38%
UD USD	-0.34%

The Dollar strengthening has resumed . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.3% on Monday despite US Census Bureau report US factory orders jumped in August.

Both EUR/USD and GBP/USD continued climbing Monday despite Sentix report the momentum of the economic recovery in the euro-zone continued to slow down. Both Pound and Euro are lower against the Dollar currently. AUD/USD continued advancing while USD/JPY continued retreating Monday with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news​

Indices	Change
Dow Jones Index	+0.04%
Nikkei Index	-2.19%
Hang Seng Index	+1.61%
Australian Stock Index	+0.04%

Futures on three main US stock indexes are up while US 10-year Treasury yields inched up to 1.495% currently. Stocks ended solidly lower Monday while Treasury prices declined on concerns about expected raising of the government's debt ceiling as the United States faces the risk of a historic default in two weeks. The three major Wall Street stock benchmarks recorded daily losses in the range of 0.94% to 2.14% led by tech shares.

European stock indexes are up currently after ending down Monday led by tech shares. Asian indexes are mixed today while Nikkei tumbled to one-month low leading losses with growth-oriented shares hit hard as rising oil prices stoked further worries about inflation. Investors are watching closely to see if Evergrande default develops into a default for China property sector after trading in the company shares were halted for trading on Monday.

Commodity Market news​

Commodities	Change
Brent Crude Oil	+0.64%
WTI Crude	+0.47%

Brent is extending gains currently ahead of data from the American Petroleum Institute later today. Prices closed solidly higher Monday as The Organization of the Petroleum Exporting Countries and its allies including Russia, collectively known as OPEC+, said on Monday it would maintain an agreement to increase oil production only gradually. United States and India had called to boost output. US West Texas Intermediate WTI rose 2.3% and is higher currently. Brent gained 2.5% to $81.86 a barrel on Monday.

Gold Market News​

Metals	Change
Gold	-0.58%

Gold prices are retreating currently. December gold added 0.5% to $1767.50 an ounce on Monday, a third straight session gain.

 

[IFC Markets]

The US authorities are going to raise the limit of public debt until October 18 - 7.10.2021​

Todays’ Market Summary​

• On Wednesday, the US dollar index rose for the second day in a row.
• American stock indices rose yesterday.
• Yesterday, world prices for Brent crude oil renewed a 3-year high and a 7-year high for WTI.
• Gold quotes are rising in price today for the second day in a row despite the strengthening of the US dollar.

​

Top daily news​

September US Labor Market Survey from Automatic Data Processing, Inc. (ADP) turned out to be much better than expected. The dollar strengthened against the euro to its maximum level in 14 months. US stocks and precious metals rose on a GOP proposal to raise the government debt limit. As expected, US oil inventories increased over the week, which triggered a correction in oil prices.

Forex news​

Currency Pair	Change
EUR USD	+0.09%
GBP USD	+0.07%
USD JPY	-0.1%

On Wednesday, the US dollar index rose for the second day in a row. It was unable to renew its maximum from September 30th. However, against the euro, the dollar strengthened to its maximum level in 14 months (EURUSD). September US Labor Market Survey from Automatic Data Processing, Inc. (ADP) turned out to be much better than expected. Now investors are waiting for the official U.S. non-farm payrolls will also be positive. It will be released on Friday. Another good news for the US dollar was the announcement by Senate Republican Mitch McConnell that the government debt limit should be raised. Today in the US unemployment data will be released for the previous week. Several ECB representatives are expected to speak in the Eurozone today, as well as the publication of Monetary Policy Meeting Accounts (minutes of the ECB meeting on monetary policy). Bitcoin is showing the most powerful growth. In 5 days, it has risen in price by 35%. The US government is currently supporting the cryptocurrency market in every possible way.

Stock Market news​

Indices	Change
Dow Jones Index	+0.3%
S&P 500	+0.41%
Nasdaq 100	+0.47%
US Dollar Index	-0.14%

American stock indices rose yesterday. This was mainly due to the proposal of the Republican Party to increase the limit of public debt. Let us remind you that this issue must be resolved before October 18. Investors hope for the continuation of large-scale monetary stimulation of the American economy. ADP labor market data also played a positive role. Moderna shares lost almost 9%. Sweden and Denmark have suspended the use of its coronavirus vaccine for citizens under 30 due to the risk of heart complications. The Hong Kong Hang Seng Index is up nearly 3% today on news of a possible meeting between the leaders of the US and China. Futures on US stock indices also rose markedly today.

Commodity Market news​

Commodities	Change
WTI Crude	-1.91%
Brent Crude Oil	-1.25%
COPPER	+0.69%

Yesterday, world prices for Brent crude oil renewed a 3-year high and a 7-year high for WTI. Downward correction began immediately after that. As expected, US oil inventories increased over the week. However, their growth by 2.35 million barrels far exceeded the forecast (+420 thousand barrels). For Brent, the psychological support level is now at $ 80 per barrel. Russia announced a possible increase in natural gas supplies to Europe. Because of this, its quotes have fallen by almost 15% today. Cocoa fell yesterday amid reports that its exports from Nigeria in August increased to 20.9 thousand tons. This is 7 times more than last year. Previously, the main cocoa producers in West Africa were Cote d'Ivoire, Ghana and Cameroon. Now Nigeria is likely to join them.

Gold Market News​

Metals	Change
Gold	+0.32%
Silver/US Dollar	+1.16%

Gold quotes are rising in price today for the second day in a row despite the strengthening of the US dollar. They usually move out of phase as investors view precious metals as an alternative to US stocks and bonds. Gold quotes were supported by a possible increase in the US government debt limit. Investors believe that this will help keep inflation high.

 

[IFC Markets]

Rising commodity prices could hurt the Japanese economy - 12.10.2021​

Todays’ Market Summary​

• On Monday, the US dollar index rose, but was unable to renew a new high.
• US stocks dropped yesterday went down in value because of low activity due to the Columbus Day holiday and the weekend in the bond market.
• Today, world oil prices continue to rise for the 4th day in a row, but they still pulled back from yesterday's highs.
• Gold quotes are rising today within a narrow trading range of $ 1750-1770 per ounce.

Top daily news​

Yesterday, US stocks went down in value because of low activity due to the Columbus Day holiday and the weekend in the bond market. Shares in the US banking sector fell on the back of strong growth in the cryptocurrency market. USDJPY has renewed a 3-year high and rather confidently crossed the psychological level of 113 thanks to weak economic statistics in Japan. A correction has begun on the natural gas market in Europe, which may negatively affect oil prices.

Forex news​

Currency Pair	Change
EUR USD	+0.09%
GBP USD	-0.01%
USD JPY	-0.1%

On Monday, the US dollar index rose, but was unable to renew a new high. This was mainly due to the weakening of the Japanese yen against the background of the publication of several negative economic indicators at once. USDJPY has renewed a 3-year high and rather confidently surpassed the psychological level of 113. Last week, Household Spending fell in Japan, and yesterday - Machine Tool Orders. Today's Japan 30-Year Bond (JGB) auction was not very successful. Their yield continued to grow, approached the February maximum and amounted to 0.71% per annum. The Corporate Goods Price Index for September was released in Japan this morning. It amounted to + 6.3% in annual terms, which is the highest since September 2008 (for 13 years). Rising world prices for energy and raw materials could hurt the Japanese economy and weaken the yen. In turn, it contributed to yesterday's strengthening of the currencies of the countries - exporters of raw materials: Australia, New Zealand and Canada.

Stock Market news​

Indices	Change
Dow Jones Index	-0.72%
S&P 500	-0.69%
Nasdaq 100	-0.64%
US Dollar Index	-0.01%

US stocks dropped yesterday went down in value because of low activity due to the Columbus Day holiday and the weekend in the bond market. JPMorgan Chase was down 2.1% ahead of its quarterly earnings on Wednesday. Probably, some investors decided to fix their profits, since the bank's quotes have grown by almost 40% since the beginning of this year. Shares of payment systems Visa and Mastercard on Monday fell by more than 2% amid strong growth in the cryptocurrency market and an increase in bitcoin quotes by 40% over the past 3 weeks. Because of all this, the S&P financial index fell 1% yesterday. The S&P communication services index fell 1.5% amid a 1.3% drop in Amazon.com quotes. The online store allowed some of its employees to work from home. Southwest Airlines shares plummeted 4.2% as some flights were canceled amid poor weather and staff shortages. Today in the United States is not expected to publish significant economic statistics, but there will be speeches by two representatives of the Fed.

Commodity Market news​

Commodities	Change
Brent Crude Oil	-0.05%
WTI Crude	-0.24%

Today, world oil prices continue to rise for the 4th day in a row, but they still pulled back from yesterday's highs. This was facilitated by a correction in the natural gas market in Europe after Russian statements about a possible increase in supplies. In addition, the European Commission is considering various options for joint action by the governments of the EU countries for the joint purchase and storage of natural gas. From the maximum on October 6, $ 1924 per thousand cubic meters, gas prices in Europe fell to $ 995.5 per thousand cubic meters. The NATGAS quotes dropped from their maximum by 16%. Citigroup Bank raised its forecast for the price of Brent in the 4th quarter to $ 85 per barrel. The dynamics of oil prices may be affected by economic data in China, which will be released on Thursday October 14: inflation and lending in yuan. China is the largest oil importer in the world.

Gold Market News​

Metals	Change
Gold	+0.26%
Silver/US Dollar	-0.32%

Gold quotes are rising today within a narrow trading range of $ 1750-1770 per ounce. It has been in effect since early October. Investors believe that high prices for energy and other raw materials will spur global inflation. Against this background, the attractiveness of precious metals may increase. An additional positive for them was the preservation of the base rates of the Reserve Bank of India (+ 4%) and Bank of Korea (+ 0.75%).

 

[IFC Markets]

High inflation persists in the US - 14.10.2021
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Todays’ Market Summary​

• On Wednesday, the US dollar index dropped markedly due to unexpectedly weak economic data.
• Yesterday US stock indexes rose on the back of economic statistics.
• Today, world oil prices are rising for the second day in a row, but have not yet hit their recent highs.
• Gold quotes yesterday rose by almost 2% and went up from a narrow neutral range.

​

Top daily news​

Inflation in the US in September again accelerated to 5.4% in annual terms, compared with 5.3% in August. This caused the weakening of the US dollar, the growth of stock indices and gold quotes. Oil rises after the U.S. announcement. Energy Information Administration (EIA) on a possible reduction in its production in the United States in 2021. According to EIA, the cost of Brent oil by the end of the year will be $ 81 per barrel.

Forex news​

Currency Pair	Change
EUR USD	+0.13%
GBP USD	+0.23%
USD JPY	+0.11%

On Wednesday, the US dollar index dropped markedly due to unexpectedly weak economic data. Inflation in the US in September again accelerated to 5.4% in annual terms, compared with 5.3% in August. Investors expected it to remain unchanged. In theory, high inflation should accelerate the Fed's rate hike. Despite this, the U.S. 10-Year Bond slipped to 1.53% from its 4-month high of 1.63% on Tuesday. CME's Fedwatch service has a 50% chance of raising the Fed's rate in July 2022. The probability of this event increases to 90% only by December 2022. However, a strong weakening of the US dollar is unlikely to happen, as the FOMC Minutes turned out to be positive. Most likely, the Fed will announce a reduction in the redemption of US government bonds at the next meeting on November 3. Positive data on the labor market in Australia for September came out this morning. This helped strengthen the Australian and New Zealand dollars. Bitcoin hit a new high of $ 58,500 today. Investors reacted positively to the Cambridge Center for Alternative Finance data that the United States became the world leader in bitcoin mining with a 35% share. They hope that this will help in creating a convenient regulation of the cryptocurrency market.

Stock Market news​

Indices	Change
S&P 500	+0.3%
Nasdaq 100	+0.73%
US Dollar Index	-0.19%

Yesterday US stock indexes rose on the back of economic statistics. The decline in government bond yields had a positive impact on share prices. High dollar inflation boosts revenue for US companies. JPMorgan Chase's third-quarter profit exceeded forecasts, but its shares still fell 2.6%. Quotes American Express Company on Wednesday dropped 3.5%, Visa - 0.7%, Mastercard - 0.9%. Overall, the S&P 500 bank index fell 1.3%. It is likely that the strong growth of the cryptocurrency market and new highs in the price of bitcoin will continue to negatively affect the shares of the American banking sector. At the same time, it can support the IT sector. In particular, Amazon.com, Alphabet and Microsoft rose 1% yesterday. Investment management company BlackRock published good financials and its shares gained 3.8%. Today UnitedHealth, Alcoa, as well as representatives of the banking sector Bank of America, Citigroup, Wells Fargo, Morgan Stanley and U.S. Bancorp are going to publish their quarterly financial results. In addition, the US is to publish data on the labor market for the week and the Producer Price Index (producer price index) for September. Their forecasts look negative. Nevertheless, futures for US stock indexes are now growing in anticipation that corporate reporting may be good.

Commodity Market news​

Commodities	Change
WTI Crude	+0.8%
Brent Crude Oil	+0.89%
COPPER	+0.88%

Today, world oil prices are rising for the second day in a row, but have not yet hit their recent highs. According to the independent American Petroleum Institute (API), US oil reserves increased by 5.2 million barrels over the week. This has happened for the third week in a row. As we can see, the growth of American stocks could not negatively affect the market. Investors are worried about the U.S. Energy Information Administration (EIA) on a possible reduction in oil production in the United States in 2021 by 60 thousand barrels per day (bpd) - to 11.02 million bpd. At the same time, the EIA expects that the price of Brent oil by the end of the year will be $ 81 per barrel. Copper quotes are rising today for the second day in a row on the back of a decrease in its reserves in China and an increase in imports in September.

Gold Market News​

Metals	Change
Gold	-0.04%
Silver/US Dollar	-0.01%

Gold quotes yesterday rose by almost 2% and went up from a narrow neutral range. They again approached the psychological level of $ 1800 an ounce, which is now resistance. This was facilitated by the growth of inflation in the United States, as well as the subsequent decline in the dollar index and the yield of American bonds. An additional positive for gold was the reduction in the International Monetary Fund's forecast for global GDP growth in 2021 to 5.9% from 6%. This slightly increases global economic risks.

 

[IFC Markets]

US quarterly reporting gives investors reason to be optimistic - 18.10.2021​

Todays’ Market Summary​

• On Friday, the change in the US dollar index was the lowest for the 2nd time in a row, controversial economic statistics have contributed to this.
• On Friday, US stock indexes rose for the third day in a row.
• Today, world oil prices have been rising for the 4th day in a row.
• Gold quotes are declining today for the second day in a row on the back of an increase in the US dollar index.

Top daily news​

World oil prices continue to rise, but a correction has begun on the natural gas market. The US dollar index started to rise this morning on the back of the weakening yuan, as well as the New Zealand and Australian dollars. Quarterly results of the first reporting US companies were above forecasts.

Forex news​

Currency Pair	Change
EUR USD	-0.03%
GBP USD	-0.04%
USD JPY	+0.02%

On Friday, the change in the US dollar index was the lowest for the 2nd time in a row, controversial economic statistics have contributed to this. Retail Sales (retail sales) grew by + 0.7% in September and turned out to be significantly better than the forecast (-0.2%). This positive factor was offset by the negative in the form of a decline in the preliminary PMI in October Michigan Consumer Sentiment to 71.4 points from 72.8 points in August. Growth was expected to 73.1. The US dollar index started to rise this morning on the back of the weakening yuan. China's GDP for the 3rd quarter of 2021 grew by 4.9% in annual terms. This is noticeably less than both the growth in the 2nd quarter by 7.9% and the forecast of + 5.2%. Investors fear that the Chinese economy could be hit by high commodity prices as well as the Japanese. The New Zealand dollar has fallen from a new high today after the news about the rise in inflation in New Zealand in the third quarter to 4.9% in annual terms. This is the maximum since July 2011. The Australian dollar also weakened today as investors fear higher inflation in Australia too. It will be published on October 27th. The bitcoin price continued to rise and today touched the $ 63,000 mark. Players expect that if the U.S. The Securities and Exchange Commission will allow the registration of ETFs of cryptocurrency funds, then investors will still buy bitcoins, even at high prices. ProShares Bitcoin Exchange Traded Fund is expected to appear on New York Stock Exchange on Tuesday, Invesco Bitcoin Strategy ETF on Wednesday. Note that the ETF data will be based on bitcoin itself, and on bitcoin futures traded on the Chicago Mercantile Exchange.

Stock Market news​

Indices	Change
Dow Jones Index	+1.09%
S&P 500	+0.75%
Nasdaq 100	+0.5%
US Dollar Index	+0.1%

On Friday, US stock indexes rose for the third day in a row. Investors reacted positively to the increase in retail sales in September, as they account for almost 70% of GDP growth. Another good news for the stock market was strong reporting by Goldman Sachs (+ 3.8%), aluminum company Alcoa (+ 15.4%) and maritime transport company JB Hunt Transport Services (+ 8.7%). Visa and American Express added 2.5% each. To date, 41 companies have published their quarterly figures. They were so optimistic that Refinitiv raised its forecast for the combined profit of all S&P 500 companies to 32% from 29.4%. Industrial Production for September is due in the US today. The forecast is positive. Quarterly reports of the largest American companies are not expected today.

Commodity Market news​

Commodities	Change
WTI Crude	+1.15%
Brent Crude Oil	+0.81%
COPPER	+0.97%

Today, world oil prices have been rising for the 4th day in a row. They renewed their highs again. Brent has surpassed the psychological level of $ 85 per barrel for the first time in 3 years. This happened thanks to statements by Britain, Australia and the United States to open their borders to tourists vaccinated against Covid-19. Investors expect an increase in fuel demand. Meanwhile, the slowdown in economic growth in China contributed to the decline in natural gas prices. In addition, Russia announced its readiness to increase gas sales to Europe after filling its gas storage facilities. Oilfield services company Baker Hughes reported that the number of operating rigs in the US (oil and gas) increased for the 6th consecutive week to 543 last week, the highest since April 2020. In theory, the price correction in the gas market could spill over to the oil market.

Gold Market News​

Metals	Change
Gold	-0.12%
Silver/US Dollar	+0.37%

Gold quotes are declining today for the second day in a row on the back of an increase in the US dollar index. U.S. yield 10-Year Bond started to rise again and surpassed 1.6% in annual terms. The slowdown in economic growth in China had an additional negative impact on gold.