Market Overview - Page 62

There is growing evidence that equity markets are amid a deep correction from the run-up that began almost 12 months ago. The reaction of Europe’s significant indices in recent days has been telling. The German DAX40 fell below its 200-day.

Germany’s Ifo business climate index held steady in September at the previous month’s level despite expectations of further deterioration. The business climate indicator fell from 85.8 to 85.7, better than the expected 85.1 but still the lowest since mid-2020. Excluding.

The US stock market is attempting to bounce back on Friday after the heavy sell-off on Wednesday and Thursday. The Nasdaq-100 index was close to key levels where it reversed gains made in June and August. The S&P 500 has.

The Bank of England has left its key interest rate unchanged at 5.25%. The likelihood of such an outcome was actively priced into Pound quotes following yesterday’s UK inflation report. The accompanying commentary noted the Bank of England’s worsening outlook.

The Swiss National Bank left its key interest rate unchanged at 1.75%. On average, markets had been predicting a 25-basis point hike, contrary to our expectations.  Most likely, market participants’ forecasts were influenced by the ECB rate hike a week.

UK consumer inflation slowed from 6.8% to 6.7% y/y, contrary to the expected acceleration to 7.0%. Core inflation, excluding food and energy, saw an even more significant slowdown of 6.2% from 6.9% y/y, well below the average forecast of 6.8%..

The Canadian dollar reversed course to the upside a week and a half ago, and its strength is gaining momentum on the back of both a fresh wave of demand for commodities and robust economic data. USDCAD is down 1.9%.

Gold added almost 1% on Friday, having managed to defend against a fall below $1900 the day before. The price tests the long-term and medium-term trends for the second month, leaving the Fed to make a decisive argument in favour.

In a highly anticipated comeback, UK-based chip designer Arm Holdings has made a stunning return to the stock market. The move garnered significant attention, resulting in the company’s market value surging to a remarkable $60 billion (£48.3 billion). As the.

Though analysts anticipated no changes, the ECB raised the rate by 25 points to 4.5%. However, the ECB’s comments had a more significant effect on the markets. They stated that current rates are effective enough to normalise inflation eventually. This.

Oil prices are going up because the largest members of the OPEC+ cartel are facing a shortage. The US has increased its production since August without increasing the number of drilling rigs, only boosting output from existing ones. These conditions.

The latest US report was a reminder that the fight against inflation will not be easy. We would guess that the most challenging period for the authorities has just begun. In August, the US CPI rose by 0.6% m/m, taking.