As the NA session starts, NZD is the best currency, and AUD is the worst. The Dollar is all over the place, but the markets are making small changes to keep it steady.
As worries about inflation grew yesterday, US markets and rates went down. In this case, S&P Global PMI data went above and beyond what was expected.
On the Federal Reserve Board, Bullard said again that the bank plans to raise interest rates to 5.25 to 5.50 percent (i.e., hike by 50 bps). His current ideas are in line with what he has said before.
The number of mortgage applications in the US went down by 13.3% today, continuing a trend that began a week ago. The rate for a 30-year mortgage went up from 6.39% to 6.62% this week.
The Central Bank of New Zealand raised interest rates by 50 basis points to show how hawkish it has become.
- It is impossible to know what Cyclone Gabrielle will do now.
- In the coming weeks, you can expect some price hikes. We still think the recession will hit in 9–12 months.
- The rate of demand needs to slow down a lot
- A rate hike of 25 basis points hardly got any attention. There was a lot of talk about an increase of 50 basis points in interest rates.
The Australian Dollar went down because quarterly salary data showed a drop. Today’s most significant change was a drop of -0.63% in the AUDNZD pair.
The price is once again trading below the 100-hour moving average of 1.0974, as shown by the 4-hour chart for the pair. Last week, when the pair reached that MA, buyers were ready to jump in (see the blue line on the chart below).
So long as prices stay below the 100-bar moving average (MA), bears will have the upper hand. The moving average (MA) for the last 100 days is 1.0886, and the 200-bar MA is 1.09203.
The price of natural gas is now $2.03, which is a drop of four cents or 1.93%. The price is now the lowest it has been since September 2020. So far today, the price of bitcoin has been between $23,871 and $24,474, settling at $24,153.
After a big drop yesterday, stocks in the US are now going up again. Yesterday was the worst day for the major indices since 2023.
According to the data, the Dow Industrial Average went up 70 points yesterday after dropping 697.10 points the day before.
After losing 10.4 points yesterday, the S&P index is now down by 81.75. The NASDAQ went down by -294.97 points yesterday but is now up 44 points.
The main indices in Europe are going down as traders try to catch up to the U.S. stock price drop that happened in the afternoon.
- Germany’s stock market (DAX) went down by 0.14 percent.
- In France, the CAC-40 fell by 0.28 percent.
- The FTSE 100 in the UK fell by 0.79 percent, and the Ibex in Spain fell by 0.81 percent.
- The Nikkei 225 in Japan is down 1.34 percent, the Shanghai Composite in China is down 0.47 percent, and the Hang Seng in Hong Kong is down 0.51 percent.
- The S&P/ASX 200 index in Australia went down by 0.3%.
The return on the five-year note went up by 10.2 basis points. And the return on the ten-year note went up by 11.2. At 1 p.m. EDT today, the U.S. Treasury will start to sell five-year notes.
