By IFCMarkets.com
Top daily news
Downdraft continues in stock markets currently after a slump on Wednesday as Fed chair Powell told interest rates would remain low until at least 2024 and “there is a long way to go” for recovery from the economic downturn. Large capitalization technology shares led losses with Apple falling 4.2% as UBS downgraded Apple shares to neutral from buy. Tesla fell -10.34% as Elon Musk said that some of the innovations showcased at “Battery Day” event were “close to working” and some three years away from fruition.
Forex news
Currency Pair | Change |
EUR USD | -0.03% |
GBP USD | -0.07% |
USD JPY | -0.02% |
The Dollar strengthening continues currently ahead of the US Labor Department report at 16:30 CET expected to show 845 thousand Americans likely sought unemployment benefits over the last week, ahead of Fed chair Powell’s testimony before the Senate Banking Committee at 18:00 CET . The
live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.4% Wednesday despite a decline in Markit’s September composite purchasing managers index flash reading to 54.4 in September from 54.6 in the prior month, signaling a slower pace of growth, while House Price Index rose to 1% over month in July from 0.4%. Both
EUR/USD and
GBP/USD continued sliding yesterday despite Markit flash eurozone manufacturing purchasing managers index’s rise to 53.7 from 51.7, while the services PMI dropped to 47.6 from 51.9 in September. Both pairs are lower currently.
AUD/USD continued climbing while
USD/JPY kept sliding yesterday with the dynamics reversed for
AUD/USD currently.
Stock Market news
Indices | Change |
Dow Jones Index | -0.1% |
Nikkei Index | -1.11% |
Hang Seng Index | -1.73% |
Futures on three main US stock indexes are down currently after tumbling on Wednesday as the Federal Reserve speakers confirmed interest rates would be kept on hold through to at least 2023 until inflation reaches 2% sustainably, though warning US economy was far from recovery. The three main US stock indexes recorded losses ranging from 1.9% to 3.0%. European stock indexes are mixed currently after advancing Wednesday despite a decline in euro-zone composite purchasing managers index to 50.1 in September from 51.9 in August. Both pairs are lower currently. Asian indexes are down today led by Hong Kong’s Hang Seng Index .
Commodity Market news
Commodities | Change |
Brent Crude Oil | -0.03% |
WTI Crude | -0.06% |
Brent is pulling back today after reports Iraq expects to reach an agreement soon with the OPEC+ group over increasing Iraq’s crude oil exports. US Energy Information Administration reported US crude inventory fell by 1.6 million barrels last week. Prices ended higher Wednesday. The US oil benchmark
West Texas Intermediate (WTI) futures gained:
November WTI rose 0.3% but is lower currently.
November Brent crude closed 0.1% higher at $41.77 a barrel on Wednesday.
Gold Market News
Gold prices are extending losses today. December gold lost 2.1% to $1868.40 an ounce on Wednesday.
Market Analysis provided by IFCMarkets.com
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024
- Geopolitical risks in the Middle East are declining. China kept interest rates at lows Apr 22, 2024
- Brent crude dips to four-week low amid easing geopolitical tensions Apr 22, 2024
- COT Metals Charts: Speculator bets led by Copper & Silver Apr 20, 2024
- COT Bonds Charts: Speculator bets led by 10-Year Bonds & Fed Funds Apr 20, 2024
- COT Stock Market Charts: Speculator bets led by S&P500-Mini Apr 20, 2024