Market Update

The scheduled meeting between President Joe Biden and Chinese President Xi Jinping in San Francisco, according to traders, may signal an optimistic thawing of tensions and improve sentiment towards the Asian country’s battered assets.In Xi’s first trip to the US since 2017, when he met with then-President Donald Trump, the …

Spot gold is trading at $1964.11 per ounce at the time of writing. Gold prices have surged in early US trading session, following a slightly tamer US inflation report. The consumer price index report for October came in at 3.2% year-on-year, falling into the camp of US monetary policy doves …

Will Fed say goodbye to the rate hiking era? The Fed will likely be in a holding pattern, with inflation moderating and a weakening labour market. Another rate hike from here looks less likely given this softer inflation reading.  The dollar softened on Tuesday following data for US consumer prices …

The US Census Bureau’s October Retail Sales report is expected to reveal a decline in consumption for the first time since March. Economists predict a 0.3% decline in October, with sales ex-autos compared to the prior release of 0.6%. Deutsche Bank expects weak unit motor vehicle sales to lead to …

The US consumer price inflation looks to have negatively surprised the consensus. Economists still predict that the Fed will hold interest rates steady until June 2024, when they will start to cut them. In other words, October saw a decrease in inflationary pressures.With fuel prices acting as a major drag …

The battered yen remained stuck near a three-decade low against the dollar on Tuesday and struggled to stem losses as the Bank of Japan’s ultra-loose monetary policy continued to conflict with expectations of interest rates remaining high for longer periods elsewhere. The Japanese currency recorded its lowest level in 15 …

European stocks rose on Tuesday, led by auto and basic resources shares, as investors awaited US inflation data that may provide a clearer picture of the Federal Reserve’s monetary policy outlook. By 0810 GMT, the European STOXX 600 index rose 0.1 percent after a broad rise in the previous session. …

Japan’s Nikkei index closed higher on Tuesday amid optimism that local companies will continue to announce strong forecasts as the yen remains near its lowest level in three decades against the dollar. The Nikkei rose 0.34 percent to close at 32,695.93 points, while the broader Topix index rose 0.37 percent …

Oil prices rose on Tuesday after a report by the Organization of the Petroleum Exporting Countries (OPEC) said that market fundamentals remained strong and against the backdrop of concerns about possible supply disruptions as the United States tightens the noose on Russian oil exports. By 0113 GMT, Brent crude futures …

The US Consumer Price Index is the crucial report on Tuesday. The Australian Westpac Consumer Confidence Index and the National Australia Bank’s Business Survey are due during the Asian session. Later in the day, the Eurozone will release Q3 GDP and employment figures, the UK will report jobs data, and …