Market Overview - Page 89

Unlike the RBA yesterday, the Reserve Bank of New Zealand met expectations by raising its key rate by 50 points to 3.5%. Having started raising the rate a year ago, the RBNZ accelerated the move from 25 to 50 points.

S&P500 index futures are trading 6% above the lows set at Monday’s start of the day. Such a solid start for the new month, quarter and financial year in the US is helped in no small part by the low.

The Reserve Bank of Australia raised its rate by 25 points to 2.6%, against an expected increase to 2.85%. Previously, the rate had been hiked by 50 points four times since June. The same decision was also predicted by the.

The precious metals have shone again in the last seven days. Gold has gained over 5% in that time, while Silver gained 18% from last Wednesday’s low, including yesterday’s 8% surge. Such a powerful uptrend encourages thoughts of a reversal.

EURUSD, the world’s most liquid currency market pair, ended September down 2.5%, having consolidated below parity. A combination of technical and fundamental factors raises the chances of a rebound in the pair, potentially translating into long-term growth. Last week ended.

According to a preliminary Eurostat estimate, overall inflation in the euro area reached 10% y/y in September. The growth rate accelerated sharply from 9.1% a month earlier and is notably above the forecast 9.7%. An additional concern for the ECB.

While some berated the UK government for collapsing the Pound on the government’s plans to cut taxes, others were buying the British currency. The Pound’s movement on Friday and Monday looks like a classic capitulation, often a precursor of a.

The trend of relentless sliding economic indicators in the eurozone paused today with the publication of money supply and private lending indicators. Monetary aggregate M3 showed a 6.1% y/y increase in August compared to 5.7% a month earlier and the.

The US dollar is under some pressure on Tuesday morning, which can be attributed to the dollar’s local profit-taking after substantial gains on previous days. European equities and US index futures are also getting some relief, pulling back from lows..

Business sentiment in Germany continued its substantial deterioration in September. The Ifo says the business climate index fell from 88.6 to 84.3 this month. The index has only been lower for two months in its history – in April and.

Last week, we said there has not yet been a final capitulation in many markets. However, we have seen such a capitulation in the pound, often followed by global market reversals. We could see both the interest of long-term investors.

The dollar index surged more than 1% on Friday, putting marked pressure on oil prices, which are losing around 5% since the start of the day. A barrel of WTI is trading below $79, and Brent has fallen back to.