Market Overview - Page 38

Swiss inflation continues to disappoint, with producer and import prices falling by 0.1% m/m in September, contrary to expectations. This weakness supports the case for further monetary easing by the Swiss central bank. USDCHF rose 0.8%, following the Dollar Index's gains since late September.

China's latest economic data shows weak growth, with CPI slowing to 0.4% y/y and PPI falling 2.8%. While external trade data signals potential recovery, the overall sentiment remains disappointed. Monetary dynamics indicate some positive movement, with M2 growth at 6.8%.

US producer prices rose at a faster pace in September than analysts had forecast. The headline PPI slowed to 1.8% y/y instead of the expected 1.6%. The core price index, which excludes food and energy, accelerated to 2.8%. While this.

US inflation slightly exceeded expectations, but a surge in jobless claims shifted attention to the need for further policy easing. The dollar remained largely unchanged after conflicting economic data was released.

The US dollar is on the rise, gaining almost daily against major currencies, driven by a shift in expectations for the Federal Reserve's key rate. Strong data, including a notable jobs report, has bolstered optimism about the US economy.

The cryptocurrency market lost 2.2% in 24 hours to $2.13 trillion, continuing to slide despite the S&P500 index making a solid update to all-time highs. Bitcoin lost over 3%, testing support of 50-day MA.

The Reserve Bank of New Zealand cut its key interest rate by 50 basis points to 4.75%, following a 25 basis point cut in August. Explaining its decision, the RBNZ noted that inflation was approaching 2%, the midpoint of the.

The Dollar Index has been rising since the end of September, tracking US long-term bond yields after the Fed's easing. Although monetary easing is normally a bearish factor, the current dynamic is supportive of the dollar. Rising yields have revived dollar buying, leading to a 2.

Germany's industrial production index jumped 2.9% in August, almost recovering from a similar drop in the previous month. This data, above the expected 0.8% rise, nominally supports the euro-dollar exchange rate on Tuesday, as does the positive surprise in the Sentix index on Monday.

Market picture: Oil is on the rise, having turned upwards after a brief dip below $70/bbl Brent. The bullish influence of technical factors, such as a significant round level and accumulated oversold conditions, can only be discussed when we are.

The Dollar Index is rising for the fourth consecutive day, gaining over 1.7%, and is about to test its 50-day moving average. The divergence between the price and the RSI indicates that the downward momentum has been exhausted and that there is upside potential towards 104-107.

The Hang Seng is up 9.6% from its closing level on 30th September, the second strongest rise since the surge on 16th March 2022. The daily RSI is approaching 91, the highest since 1987, indicating a possible local correction.