Market Update

On Monday, Equity index futures turned a bit negative to start a new week and month, as investors are still digesting last week’s data with the S&P 500® index (SPX) near June highs.Potential Market Movers this week include economic and earnings calendars that appear a bit lighter compared to last …

Market sentiment is mixed on Monday, but the AUD/USD pair is boosted by the softer US dollar and the RBA’s awaited decision.US ISM Manufacturing data stays in expansionary territory, though prices and new orders dropped. The AUD/USD pair rises above the 0.7000 figure on a mixed sentiment session, encouraged by …

In a recently published report, Moody’s Investors Service said that it expects the US Federal Reserve to take the policy rate to the range of 3.5-3.75% by the end of the year and above 4% by March 2023.The EUR/USD pair showed no immediate reaction to this report and was last …

US stocks fell Monday in a choppy start to August trading as Wall Street struggled to sustain July’s momentum. The S&P 500 and Dow Jones Industrial Average each fell roughly 0.3%, while the Nasdaq Composite held near breakeven.Investors digest data released early in the session that showed manufacturing activity expanded …

The US ISM Manufacturing PMI edged slightly lower in July. US Dollar Index stays under bearish pressure below 105.50. The business activity in the US manufacturing sector expanded at a slightly softer pace in July than in June with the ISM Manufacturing PMI declining to 52.8 from 53 in June. …

The Russian ruble fell against the dollar to its lowest level in more than three weeks in Moscow markets on Monday as oil prices fell and after the Russian currency lost the support of a favorable tax collection period at the end of last month. At 0729 GMT, the ruble …

European shares settled on Monday ahead of a slew of manufacturing activity data, as disappointing Chinese economic data raised fears of a global economic slowdown while erasing a jump in banking shares after strong HSBC results. The pan-European Stoxx 600 index settled at 7:09 GMT, tracking the effect of the …

Oil prices fell early on Monday as investors waited for officials from OPEC and other major producers to meet this week on supply adjustments. Brent crude futures were down 63 cents, or 0.6 percent, at $103.34 a barrel. US West Texas Intermediate crude fell to $97.87 a barrel, down 75 …

Japanese stocks had their best day in nearly two weeks on Monday, boosted by positive corporate results, while uncertainty over the global growth outlook kept gains limited. The Nikkei rose 0.7% to close at 27,993 points, and the broader Topix index rose 1 percent to 1960 points, their biggest gain …

US monetary policymakers opted a 75bps rate hike. Markets expected this move; a historically large hike. Jerome Powell explained that Fed would likely stop hiking once inflation is controlled. If unemployment rises, the job market weakens, and the US falls into a recession, Fed would ease policy due to lower …