Archive for category: Uncategorized

• US indices finished yesterday’s session higher. S&P 500 jumped 0.40%, Dow Jones moved 0.45% higher while Nasdaq surged 0.62%. Russell 2000 added 0.19%
• Indices from Asia-Pacific traded mostly higher today. S&P/ASX 200 rose 0.48% while Kospi jumped 0.22%. Indices from China traded higher. Nikkei fell 0.05%
• DAX futures point to a slightly higher opening of the European cash session
• PBOC considering buying bonds and loans of troubled developers and indicates more policy stimulus needed which lead to weakening of yuan
• Standard Chartered lowered their China GDP forecasts and expect another 10bp rate cut
• RBA minutes showed that the board expects to take further steps in the process of normalizing monetary conditions over the months ahead, but it is not on a pre-set path.
• Iran has responded to the EU’s draft nuclear deal, and anticipates a response from the other side within the next two days, according to ISNA
• Cryptocurrencies are trading lower today. Bitcoin fell 0.8% and Ethereum dropped over 2.0%
• Oil is trading slightly higher. WTI trades near $94.10 per barrel while Brent is testing $88.70 mark
• Mixed moods prevail on the precious metals market. Gold trades 0.30% higher while silver dropped 0.50%
• AUD and CAD are the best performing major currencies while JPY and NZD lag the most
• US500 managed to break above the major resistance zone around 4190 pts last week and is currently testing 200 SMA (red line). Nevertheless as long as the index sits below the downward trendline sentiment remains bearish

US indices finished yesterday’s session slightly lower. However, tech stocks managed to gain. S&P 500 dropped 0.08%, Dow Jones moved 0.26% lower while Nasdaq gained 0.41%. Russell 2000 dropped 0.13%

Indices from Asia-Pacific traded higher today. Nikkei gained 0.8%, S&P/ASX 200 added 0.5% while Kospi moved 0.9% higher. Indices from China traded mixed

DAX futures point to a flat opening of the European cash session

China has reportedly blocked shipments to Taiwanese iPhone assembler Pegatron. The move is said to be retaliation for Pegatron’s executives meeting with US House Speaker Nancy Pelosi

According to Reuters report, Saudi Arabia and United Arab Emirates still have some spare oil production capacity but are unlikely to tap into it unless a major energy crisis occurs during winter

Japan demanded China halts its military drills immediately after 4 Chinese ballistic missiles were fired into Japan’s exclusive economic zone

RBA Monetary Policy Statement for August showed that the Bank is ready to do what is necessary to bring inflation to 2-3% range. However, document also noted that there is a narrow path to restraining inflation without hurting economy

Japanese household spending increased 3.5% YoY in June (exp. 1.0% YoY)

Reserve Bank of India delivered a 50 basis point rate hike, to 5.40% (exp. 5.25%)

Cryptocurrencies are trading higher today with Bitcoin adding 2.6% and Ethereum rallying 4%

Oil is trading over 1% higher. WTI trades near $89 per barrel while Brent is testing $94.50 mark

Precious metals gain in spite of USD strength. Gold trades flat but silver (+0.5%) and platinum (+0.8%) gain

USD and CAD are the best performing major currencies while JPY and CHF lag the most

Brent (OIL) plunged to the lowest level since February 25, 2022 yesterday as recession fears continue to exert pressure on crude. An attempt to launch a recovery move can be observed this morning although the scale of moves looks small compared to