Market Update

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8222 versus Monday’s fix at 6.8361.

FX option expiries for Sept 15 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1830 823m1.1850 2.4bn1.1885 957m1.1910 637m USD/JPY: USD amounts 105.00 1.1bn105.70 535m105.95 999m106.00 665m

The People’s Bank of China (PBOC) injected CNY600 billion via one-year medium-term lending (MLF) facility on Tuesday. The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fifth month in a row. There is CNY170 billion reverse …

The New York Stock Exchange (NYSE) rose on Monday, amid a positive performance by most stock markets on renewed hopes for developing a COVID-19 vaccine. The Dow Jones Industrial Average increased by 328 points, or 1.2%. The S&P 500 index closed higher by 1.3%, while the Nasdaq Composite showed recovery …

US Treasury yields showed a mixed performance on Monday amid anticipation for the next Federal Reserve meeting. Yields on the 10-year Treasury notes settled at 0.669%, while the two-year note return increased by 0.6 basis point to 0.135%. Meanwhile, the return on the 30-year bond declined by 0.9 basis point …

Oil prices fell on Monday, due to concerns and negative expectations for the global demand outlook. The global benchmark Brent crude futures settled lower by 22 cents, or 0.6%, at $39.61 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures closed lower by 7 cents, or 0.2%, at …

Gold prices rose on Monday amid a decline by the US Dollar and the Treasury Yields, and despite a rise in stock markets amid an improved risk appetite. Gold futures for December delivery finished higher by $15.80, or 0.8%, at $1,963.70 per ounce. As for silver futures, the December contracts increased by …

A recent report by Goldman Sachs suggested that the market is over reacting to concerns over a Brexit without a trade deal, noting that the British Pound (GBP) is currently trading at attractive levels. “For investors willing to look through some near-term volatility, current levels for sterling longs now look …

European stocks closed higher on Monday, opening the week on a positive note after some fluctuations. Positive news about COVID-19 vaccine trials helped boost investors’ sentiment and risk appetite. The Stoxx Europe 600 index closed up by 0.18% or 0.68 points at 368.64 points. The UK’s FTSE100 slipped by 0.10%, …

The United States Secretary of Treasury, Steven Mnuchin, said on Monday that he will continue to work to reach a deal with Congress for a new economic stimulus package. Speaker of the House, Nancy Pelosi, recently expressed hopes for a new deal to help the economy cope with the complications …