Market Update

Newly elected Japanese Prime Minister Fumio Kishida said Monday he will dissolve the lower house next week in preparation for 31 October elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected …

New orders for U.S. made goods accelerated in August, signaling sustained strength in manufacturing even though economic growth appeared to have slowed during the third quarter of 2021 because of shortages of raw materials and labor.“Factory orders increased 1.2% in August. Data for July was revised higher to show orders …

Canada’s building permits fell by 2.1% in August, driven by a significant drop in residential construction intentions in Ontario and British Columbia.The total value of building permits in August declined 2.1% on a month over month basis to a seasonally adjusted 9.66 billion Canadian dollars, or the equivalent of $7.64. …

The Canadian dollar strengthens 0.7% against the U. S. counterpart. The Canadian currency has touched its strongest level since 7 September 1.2561 as U.S. oil price has climbed by 3% and the Canadian bond yields rise across a steeper curve. The Canadian dollar on Monday strengthened to its highest level …

US stock futures fell on Monday as investors prepared for the first full week of October trading, Dow futures fell 124 points or 0.4%, S&P 500 futures fell 0.4% and Nasdaq 100 futures lost 0.5%. Technology stocks including Nvidia and Zoom Video are down slightly in pre-market trading as investors …

The yield on the benchmark 10-year Treasury was at 1.49% in the first full trading week of October, below a 3-month high of 1.56% last week, as traders continue to digest the prospects for an early Fed tightening despite ongoing inflationary pressure. Last week, Fed Chair Powell said at the …

Gold retreated from its highest level in more than a week on Monday, October 4, as US Treasury yields rose and the dollar compensated for some of its losses, but it remained above the technically important $1750 support level, supported by market fears of inflation. Spot gold fell 0.5% to …

A survey showed on Monday, October 4th, that investor sentiment in the eurozone fell for the third consecutive month in October and reached its lowest level since April amid a lackluster economic outlook. The Sentix index for the eurozone fell to 16.9 from 19.6 in September. A Reuters survey had …

Data showed Monday, October 4, that Turkey’s inflation rose slightly less than expected to 19.58% y/y in September from 19.25% in August, the highest level since March 2019, taking real yields further into losses after the central bank cut interest rates. to 18%. On a monthly basis, the Turkish Statistical …

OPEC+ sources told Reuters that it is likely that OPEC and its allies will stick to their current agreement to add 400,000 barrels per day of oil to the market in November, despite pressure from consumers to calm a market witnessing heavy demand for oil. Ministers of the Organization of …