MHMarkets：October 19, 2023--Fundamental Reminder
Wednesday's housing starts data, though weaker than expected, and Fed Governor James Waller's reversal that the central bank may need to keep raising rates, signaled support for holding fire. The dollar index moved higher, closing up 0.33% at 106.58.
MHMarkets：October 19, 2023--Fundamental Reminder
Wednesday's housing starts data, though weaker than expected, and Fed Governor James Waller's reversal that the central bank may need to keep raising rates, signaled support for holding fire. The dollar index moved higher, closing up 0.33% at 106.58.
Stocks Sink as Treasury Yields Keep Rallying
Dow Jones Falls 1%, S&P 500 Drops 1.3%, and Nasdaq 100 Slides 1.4%
WCG Markets:2023-10-19
WCG Markets:2023-10-19
FX Analysis – Yield spike on hot retail sales fails to lift USD, AUD outperforms, JPY , NZD.
On Tuesday, despite a significant rise in treasury yields driven by better-than-expected US retail sales figures (which increased by 0.7% month-on-month compared to the expected 0.3%), the US dollar (USD) remained within a narrow trading range.
Council of the EU Announces Adoption of DAC8 Crypto Tax Reporting Rule
A press release was issued by the Council of the European Union on October 17, announcing the adoption of a directive that modifies the EU regulations pertaining to administrative cooperation in the field of taxation. The directive primarily focuses on enhancing the reporting and automated exchange of information concerning income generated from transactions involving cryptocurrency assets, as well as advance tax rulings specific to high-net-worth individuals.
Middle East Tensions Stimulate Demand for Risk Avoidance Gold is rising steadily
Middle East Tensions Stimulate Demand for Risk Avoidance Gold is rising steadily
Chainalysis Report Says UK Leads Crypto Activity in CNWE Region
Blockchain analytics company Chainalysis recently released two new chapters of its 2023 Geography of Cryptocurrency report on October 18. These findings highlight the significant role of the UK as a global crypto economy and identify it as the leading country in terms of transaction volume in Central, Northern, and Western Europe (CNWE).
Bank of England Maintains Rates, Warns of Economy
The quarterly meeting of the Financial Policy Committee (FPC) of the Bank of England (BoE) took place on Tuesday, with a focus on highlighting the strength of Britain's economy despite challenging risks and limited growth expectations in the near term. Despite some members of the committee advocating for an increase in the counter-cyclical capital buffer (CCyB) from 2% to enhance banks' ability to withstand low loan losses, the decision was made to maintain the CCyB at its current level. However, the committee remains flexible and ready to modify the rate depending on future economic and financial fluctuations.
10/18 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
MHMarkets：Trading in the Asian market was lackluster, with USDJPY trading cautious due to concerns about the Bank of Japan's intervention in the market.
At the end of the Asian market on Wednesday (October 18), the US dollar index accelerated its decline, with prices approaching resistance below 106.05, and the current price is at 106.12. Gold rose at the opening of the Asian market and broke through 1930.90, but was hindered until 1942.85.
MHMarkets：October 18, 2023--Fundamental Reminder
While other economic data released Tuesday were mixed, the most important "scare number" far exceeded expectations, indicating that U.S. consumption remained hot and markets were betting that the odds of a December rate hike had briefly risen. Stronger-than-expected inflation and consumption data could complicate the Fed's problems. As a result, the dollar index rose before turning lower in late trading to close down 0.04% at 106.2.
Strong retail sales data US bond yields hit a 17-year high But precious metal bulls keep still
Strong retail sales data US bond yields hit a 17-year high But precious metal bulls keep still
Week 42 data: EURUSD and gold
This preview of weekly data looks at EURUSD and XAUUSD, where economic data coming up later this week are the main drivers in the markets for the near-term outlook. The most important economic data for this week are
Markets unwind weekend geopolitical hedges
USD turned lower as risk sentiment bounced back to kick off another busy week. Tensions in the Middle East eased slightly curbing safe-haven demand for the dollar.
Gold & Silver Rocket (more) on War & Economy Double
The combination of deteriorating economic conditions and the specter of a global war saw gold and silver prices jump the most since the banking crisis on Friday
Bank of America gains 3% after earnings ???? Goldman Sachs loses
Bank of America, the second largest bank in the United States, witnessed a surge of over 3% in its shares today. This notable uptick can be attributed to the bank surpassing predictions and achieving a 10% year-on-year improvement in profits.
Australian Dollar Holds Steady After RBA Minutes Release
The Australian Dollar (AUD) persisted in its upward movement against the US Dollar on Tuesday, experiencing a second day of consecutive gains. The currency's positive performance was predominantly driven by the disclosure of the Reserve Bank of Australia (RBA) minutes for the October 2023 session, unveiling a relatively optimistic stance.
WCG Markets:2023-10-18
WCG Markets:2023-10-18
10/17 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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