US and Chinese inflation the focus for the week ahead
The ASX200 concluded its third consecutive week with losses, plummeting by 1.34%. Surprisingly, the RBA's decision to maintain rates for the fourth consecutive month did not bring relief to the index.
Rollover Notification in October
Please be advised that the following CFD instruments will be automatically rolled over as per the dates in the table below. As there can be a pricing difference between old and new futures contracts, we recommend clients to monitor their positions closely and manage positions accordingly.
Market Closure in October
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming October holidays.
The US Dollar has the potential to come under pressure again when inflation data is released in the
Gold markets maintained strong gains even as the minutes of the Federal Reserve's September monetary policy meeting showed that the central bank was committed to maintaining a “higher for longer” monetary policy stance.
Crude Oil Price Could See Swing Moves Due To Israel-Hamas War
Yesterday, we discussed how Gold and Crude oil prices opened with a gap higher this week due to the Israel-Hamas war. Oil prices climbed above the $85.00 resistance zone before the bears appeared. The death toll is still rising in Israel and the Gaza Strip, as missile attacks continue, and conflicts explode for a sixth day on Thursday.
WTI Hits Three-Week Low at $86.95 Amid Stronger USD
As of October 3, 2023, West Texas Intermediate (WTI) crude oil, the United States’ benchmark for oil prices, is trading at approximately $86.95 per barrel, marking a significant three-week low. This decline represents the fifth consecutive day of negative movement in WTI prices, with the primary driving force behind this trend being the robust performance of the U.S. dollar and mounting concerns regarding the potential consequences of higher interest rates on oil consumption.
USD Index Holds Steady Above 107.00, Focus on US Data
The USD Index (DXY) has been exhibiting a seesaw pattern, hovering above the 107.00 mark on Wednesday, as it grapples with a mix of gains and losses. This performance comes amid a keen focus on upcoming US economic data and remarks from Federal Reserve officials.
USD Index Holds in Mid-106.00s, Limited Downside amid Soft Bond Yields
The US Dollar Index (DXY), reflecting the US dollar’s value against a basket of foreign currencies, has recently faced a bearish streak, settling near its lowest point during the Asian trading session on Thursday. Despite this decline, it has retained some of its gains for the week, reaching an almost 11-month high earlier this week. Traders are eagerly awaiting signals regarding the Federal Reserve’s upcoming policy decisions.
Treasury yields and USD surge, stocks and gold sink
FX: USD made fresh highs after the quarter and month-end weakness last week. Better than expected ISM manufacturing data helped while JP Morgan Chief Jamie Dimon said the economy is “still ok”.
The Week Ahead 9th – 13th October: Will Inflation Cool Further?
US treasury selloff intensified. Longer-term US yields rose to a fresh 16-year high this week before easing lower. Bill Ackman warned that the 10-year yield could soon hit 5%.
The AUD is on a rapid decline. Overview for 03.10.2023
The Australian dollar is rapidly depreciating against the US dollar on Tuesday. The current AUDUSD exchange rate stands at 0.6324.
Pound goes with the flow. Forecast as of 05.10.2023
The GBPUSD is going down despite the positive UK economic reports and the BoE's hawkish stance. The price dropped to a six-month low and might fall deeper. Let us discuss the Forex outlook and make up a trading plan.
Global nickel market surplus to widen in 2024 -INSG
The surplus in the global nickel market is expected to widen to 239,000 metric tons in 2024 from 223,000 tons this year, the International Nickel Study Group (INSG) said on Tuesday, signalling further pressure on the metal.
Nestle Ind Share Price Live blog for 05 Oct 2023
Active Stocks Nestle Ind stock price went up today, 05 Oct 2023, by 2.91 %. The stock closed at 22338.15 per share. The stock is currently trading at 22988.65 per share.
Gold Price Plunges to March Low on Elevated Fed Rate Expectations
The price of gold has sharply declined, hitting its lowest level since March due to expectations of a Federal Reserve interest rate increase. The Fed’s concerns about persistent inflation and the possibility of another rate hike in 2023, combined with strong US macroeconomic data, have heightened the likelihood of further policy tightening. This has led to an increase in US Treasury bond yields and pushed the US Dollar to its highest point since November 2022, diverting investors from non-yielding gold.
Global nickel market surplus to widen in 2024 -INSG
The surplus in the global nickel market is expected to widen to 239,000 metric tons in 2024 from 223,000 tons this year, the International Nickel Study Group (INSG) said on Tuesday, signalling further pressure on the metal.
GBP/USD eyes tentative recovery amid economic headwinds, ahead of US NFP data
The British Pound (GBP) is recovering some ground against the US Dollar (USD), though it remains below the 1.2200 figure capped by weaker UK economic data.
FX Analysis – Yields and USD rise again, AUD clobbered, JPY intervention?
The first week of the new quarter has so far been an interesting one, rampant US treasury yields breaking out to 16-year highs, a USD that just keeps going up and now it seems the Japanese Ministry of Finance is directly intervening in currency markets.
Cargill faces Brazil criminal probe over Amazon port project
Brazilian federal prosecutors are investigating transactions involving grains trader Cargill and a Brazilian partner after they found "irregularities" in the acquisition of disputed land where the U.S. company plans to build a massive river port in the Amazon rainforest.
Canadian Dollar Update – Canadian dollar trading with negative bias
The Canadian dollar remains under pressure due to external forces. Political dysfunction in America and a very hawkish US interest rate outlook have soured global risk sentiment and caused a spike in Treasury yields.