Market Update – Markets prepare for US CPI & Harris-Trump high-stake debate
Asia & European Sessions:
- Wall Street recovered slightly from Friday’s dip. Dip buying got the ball rolling and short covering has added to the bullish momentum.
- Expectations for a soft, rather than hard landing, with the FOMC expected to cut rates by only -25 bps rather than -50 bps have
Market Update – Eyes on ECB!
US inflation data supported bets for a rate cut from the Fed next week, but also argued for gradual moves.
Asia & European Sessions:
- Selling initially drove the moves on Wall Street and Treasuries as the pick up in the monthly US CPI core rate weighed on aggressive Fed rate
Market Update – Safe Havens in demand; Eyes on CPI
Investors remain cautious about the gloomy outlook for China’s economy & worry that the Fed has delayed easing monetary policy. Traders are anticipating at least 1 significant rate cut this year, ahead of the CPI report, which is expected to show modest inflation growth.
Asia & European Sessions:
- Asian equities
Stocks Suffer Sharpest Drop Since August 5th, What’s Next?
- The stock market witnesses its worst session since August 5th. The NASDAQ drops more than 3.00% as 80% of its stocks decline.
- The VIX rises more than 5% indicating a low risk appetite as investors fear lower consumer demand and the unwinding of certain hedge positions.
- The price of the
US Jobs Vacancies Fall to 3-Year Low Pressuring The US Dollar!
- US Job Vacancies drop to their lowest level in more than 3 years. The US Dollar Index declines.
- The best performing currency of the week is the Japanese Yen. Investors are turning to the only Central Bank which is not going to cut rates in 2024.
- The possibility of a