The US producer price index has pleased equities bulls, providing the Nasdaq100 with momentum to rise above 24,000 and update its historical highs. The producer price index fell 0.1% in August, slowing its annual growth rate to 2.6% from 3.1% previously (revised from 3.3%). This is a striking contrast to the average expectations of an…
Markets Most markets were mired in technical trading today. Core bonds, at least up until now, are taking a breather after soft US labour market data that last week supported bets for accelerated Fed easing and a further easing of (global) financial conditions. Markets usually take a forward looking approach, mostly ignoring statistical data revisions….
Markets Markets started slow but after all constructive to the new trading week, with bonds and equities closing in green. Upcoming event risk (French confidence vote a.o.) for now didn’t spoil the game. US interest rate markets facilitated a further easing of global financing conditions, with today’s BLS benchmark revision for the US payrolls a…
The Australian dollar has extended its gains on Monday. In the North American session, AUD/USD is trading at 0.6588, up 0.49% on the day. Earlier, the Australian dollar climbed to a daily high of 0.6598, its highest level since July 25. The US dollar ended the week broadly lower, as investors dumped the greenback after…
The past week in global markets has been anything but routine. What began as cautious positioning around economic data turned into a full-scale rethink of Fed policy and global growth prospects. Currency traders, bond investors, and equity markets were all forced to adjust as the numbers told a weaker story than anyone hoped for. At…
All attention is on U.S. non-farm payrolls today, with markets bracing for heightened volatility. Consensus expectations point to job growth of 78k in August, an uptick in the unemployment rate to 4.3%, and average hourly earnings at 0.3% mom. Risks appear skewed to the downside for Dollar, with potentially larger reaction if the data disappoints….
The ISM Manufacturing Index rose to 48.7 in May, up from 48.0 in July, but remained in contraction territory. Only seven of 18 industries reported growth for the month, matching July’s share. Roughly 70% of manufacturing GDP contracted in August, down from 79% recorded in July. However, demand conditions improved in August, with the new…
Markets European investors profited from the empty eco calendar and the absence of their US counterparts celebrating Labor Day holiday to start the week/month still in vacay mode. Stock markets eke out small gains (EuroStoxx 50: +0.25%) follow last week’s choppy/corrective action. German Bunds cede some ground with the yield curve bear steepening. Daily changes…
The past week was anything but quiet for global markets, even if headline price moves in currencies looked muted. Beneath the surface, three powerful narratives are colliding: political turmoil in the U.S. that threatens the independence of its central bank, a legal battle that could reshape global trade policy, and a relentless equity surge in…
We are concluding a fairly muted trading week, with participants usually taking the final trading week of August to reload their batteries before entering the volatile final four months of the year. As a matter of fact, the session close will be essential to watch as month end flows tend to move markets quite largely….