Weekly News 2023/10/16-2023/10/20
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
Markets Grapple with Rising Yields: Volatility Persists as 10-Year Treasury Nears 5%
U.S. Stocks Grapple with 10-Year Yield Near 5%, Powell's Inflation Remarks Add Pressure
MHMarkets：The US dollar index rose in the Asian market and was hindered from breaking above yesterday's high. USDJPY trading is cautious due to concerns about the Bank of Japan's intervention in the market.
On Friday (October 20) at the end of the Asian market, the dollar index was affected by Powell's speech yesterday, the price volatility increased, and broke through the previous low point,
MHMarkets：October 20, 2023--Fundamental Reminder
Amid the escalating Israeli-Palestinian conflict, Federal Reserve Chairman Powell's speech became the market focus overnight. Mr Powell sought to preserve flexibility for the Fed, saying the FOMC was moving cautiously, that policy was not too tight for now, inflation was still too high and rising yields could mean less need to raise rates. The dollar index jumped up and down during Mr. Powell's remarks, closing down 0.27% at 106.24.
Powell's dove speaking puts pressure on the US dollar Gold has risen to a high in nearly three months
Powell's dove speaking puts pressure on the US dollar Gold has risen to a high in nearly three months
WCG Markets:2023-10-20
WCG Markets:2023-10-20
10/19 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Just2Trade brand received FOREXTOP award
The Just2Trade brand was honored to receive in May 2023 the renowned Forextop award, which ranked the company as one of the 10 Top FX brokers worldwide.
MULTIBANK GROUP CONTINUES GLOBAL EXPANSION WITH GRAND OPENING IN VIETNAM
MultiBank Group expands into Vietnam, reinforcing its presence in Asia and commitment to top-tier financial services. Join us now!
MHMarkets：The US dollar index rose in the Asian market and was hindered from breaking above yesterday's high. USDJPY trading is cautious due to concerns about the Bank of Japan's intervention in the market.
At the end of the Asian market on Thursday (October 19), the US dollar index rose and was hindered from breaking through yesterday's high.
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】