Market News
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Equities: Resilience versus rates and Oil shock – Danske Bank
Danske Research Team notes that equities advanced on Friday, leaving the broader market only about 1% lower for the week despite hotter US CPI, higher front-end yields and a sharp Oil rally. Cyclicals outperformed defensives and the VIX stayed below 16.
Silver Price Forecast: XAG/USD hovers above a key support in the $63.00 area
Silver (XAG/USD) shows minor losses at Monday’s early European session, amid a bearish near-term trend and with bears looking at a key support area around $63.00.
India WPI Inflation registered at 9.92% above expectations (9.89%) in August
India WPI Inflation registered at 9.92% above expectations (9.89%) in August
ECB’s Lagarde: The current shock is longer-lasting
European Central Bank (ECB) President Christine Lagarde said in an interview on Saturday that the current energy shock is longer-lasting.
Gold: Sideways near support before FOMC – OCBC
OCBC strategist Christopher Wong reports Gold rebounded after United States (US) Consumer Price Index (CPI) as 10-year US yields and Oil eased, reducing inflation pressure on bullion.
Switzerland Producer and Import Prices (YoY) increased to -0.7% in August from previous -2.1%
Switzerland Producer and Import Prices (YoY) increased to -0.7% in August from previous -2.1%
Switzerland Producer and Import Prices (MoM) above forecasts (0.1%) in August: Actual (0.7%)
Switzerland Producer and Import Prices (MoM) above forecasts (0.1%) in August: Actual (0.7%)
Brent: Middle East risks support prices – ING
ING analysts Warren Patterson and Ewa Manthey note Brent is up around 3% as Saudi Arabia’s East-West pipeline shutdown intensifies supply concerns following recent attacks.
Euro: Support at 1.1565 watched against US Dollar – UOB
UOB’s Quek Ser Leang highlights that EUR/USD slipped to 1.1568 before rebounding to close near 1.1598, with downside momentum still limited. Intraday, the Euro (EUR) is expected to test major support at 1.1565 but a clear break is seen as unlikely, with resistance at 1.1605 and 1.1620.
British Pound weakens to near 1.3500 on Fed hike bets
The GBP/USD pair declines to near 1.3505 during the early European session on Monday. The US Dollar (USD) strengthens against the British Pound (GBP) as traders pondered possible rate hikes from the Federal Reserve (Fed) later on Wednesday.
Sweden Consumer Price Index (MoM) meets forecasts (-0.3%) in August
Sweden Consumer Price Index (MoM) meets forecasts (-0.3%) in August
Sweden Consumer Price Index (YoY) in line with forecasts (0.3%) in August
Sweden Consumer Price Index (YoY) in line with forecasts (0.3%) in August
British Pound trades higher at start of UK data-packed, BoE policy week
The British Pound (GBP) is up against its major currency peers, except North American currencies, at the start of the United Kingdom (UK) data-packed week and the Bank of England’s (BoE) monetary policy announcement.