Key Market Insights prior to Heading of US Inflation Numbers

7 min read

US Markets

Stock futures were flat overnight in the United States after a negative trading day for the major indexes.

  • The S&P 500 is flat so far this month after rising 9% in July.
  • Federal Reserve Chairman Jerome Powell is scheduled to give a speech on Friday in which he is expected to comment on future monetary policy.
  • The current 10 Year U.S. Treasury yield is set at 3.04520%
Market Price Move
Dow Jones 32,909.59 -0.47%
S&P 500 4,128.73 -0.22%
Nasdaq 12,381.30 0.00%
Russell 2000 1,919.14 0.18%

 

Canadian Markets

The Canadian government has signed deals to provide Mercedes-Benz and Volkswagen with raw materials for electric car batteries.

  • The deals could have been influenced by the approval of fiscal benefits that seek to ensure that carmakers source battery materials from the U.S.
  • German Chancellor Olaf Scholz attended the signing ceremony in Toronto.
  • The deals are part of Canada’s efforts to invest in its automotive industry, with a focus on electric vehicles.
Market Price Move
TSX 19,985.35 0.05%

 

European Markets

European stock markets were lower on Tuesday as investors reacted to new economic data.

  • The Stoxx 600 was down 0.5% on the day. Healthcare and media stocks were the worst performing, losing 1.6%. Oil and gas stocks were up 3.1%.
  • Purchasing Manager’s Index data showed that business activity in the Eurozone decreased in August for the second straight month.
  • Maersk stock lost 2.7% after Citi cut its target price.
Market Price Move
Euro STOXX 50 3,652.52 -0.16%
UK (FTSE 100) 7,488.11 -0.61%
Germany (DAX) 13,194.23 -0.27%
France (CAC 40) 6,362.02 -0.26%

 

ATHENA EA


#H1
#H4
#Time frames
Award Winning Momentum TradingPromo
Account Growth:
220%
Risk/Reward:
0.36
Platforms:
MT4
Order Now
Historical Drawdown:
30%
Min. Deposit:
50$
Asset Types:
Forex
Presented by
Chris Svorcik
Verified on:

Asian Markets

Stocks in Asia were mixed on Wednesday morning after a third straight negative day in the United States dampened investor sentiment.

  • Chinese stocks were down across the board.
  • The Shenzhen Component and Shanghai Composite were down in the early morning trading.
  • Xpeng was down 12% after reporting a larger than expected loss last quarter.
  • Tech stocks continued to struggle with the Hang Senf Tech Index down 1.8% in early morning trading.
Market Price Move
S&P Asia 50 4,455.30 -1.73%
Japan (Nikkei 225) 28,359.10 -0.33%
South Korea (KOSPI) 2,434.14 -0.05%
China (Hang Seng) 19,232.70 -1.39%
India (SENSEX) 59,031.30 0.44%

 

Commodities

Oil prices were up on Tuesday after Saudi Arabia said that OPEC+ may cut oil output to put upward pressure on prices.

  • Brent crude rose 3.88% and U.S. West Texas Intermediate crude was up 3.7% on Tuesday.
  • Analysts expect a decline of 1.5 million barrels in U.S. crude oil stocks last week.
  • Oil prices have decreased significantly since hitting a high of $147 per barrel in March, after Russia invaded Ukraine.
Market Price Move
Oil (NYSEARCA:OIL) 33.41 3.73%
Gold (NYSEARCA:GLD) 162.77 0.71%
Silver (NYSEARCA:SLV) 17.62 0.69%
Corn (NYSEARCA:CORN) 26.39 3.82%
Lumber (NASDAQ:WOOD) 79.19 0.65%

 

Currency Exchange Rates

The U.S. Dollar was down slightly on Tuesday after reports show that private sector activity in the U.S. has fallen for two straight months.

  • There are concerns about the impact of the quick rise in interest rates from 0.25% in March to 2.50% at present.
  • The Chinese Yuan is currently at a two-year low as higher interest rates in the U.S. continue to impact the Chinese currency.
  • The Euro is down 12% this year and 3% in August.
Market Price Move
UK(GBP) £0.84 -0.32%
Europe (EURO) €1.01 0.86%
Canada (Canadian Dollar) $1.30 -0.20%
Japan (Yen) ¥136.85 -0.14%

 

Cryptocurrency

Bitcoin continues to struggle as investors await guidance regarding future monetary policy from Fed Chairman Jerome Powell later this week.

  • The Reserve Bank of India claims that its warnings about the risks of cryptocurrency have caused people to avoid investing in the industry.
  • Andreessen Horowitz believes that cryptocurrency businesses will cause power to move away from big Internet companies to the general public.
  • EOS token is up 28% after switching to Antelope.
  • ZEUS EA


    #H1
    #H4
    #Time frames
    Grid Trading with a BangPromo
    Account Growth:
    140%
    Risk/Reward:
    0.53
    Platforms:
    MT4
    Order Now
    Historical Drawdown:
    30%
    Min. Deposit:
    50$
    Asset Types:
    Forex, Gold
    Presented by
    Chris Svorcik
    Verified on:
Market Price Move
Bitcoin $21,243.80 -1.24%
Ethereum $1,611.01 -0.85%
Litecoin $55.99 -2.15%
Bitcoin Cash $132.24 11.00%

 

Good trading,
Chris Svorcik

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of