- The Washington Post reported yesterday after the Wall Street session that Israel does not intend to attack Iran's oil infrastructure. This led to a clear price pullback yesterday evening, and this movement continued today. Oil prices are down more than 2% today and WTI approached $70 per barrel
- After yesterday's strong increases on Wall Street, a correction is coming today, which is caused by the weakness of the semiconductor sector.
- ASML publishes data a day earlier. The results are good, but the very negative information regarding orders surprises (over 50% less than the previous quarter and significantly less than expected).
- ASML lost as much as 15%, which dragged down companies such as Nvidia and Intel.
- On the other hand, solid bank results caused a rebound in prices in the sector
Bitcoin continued to grow and tested around 68 thousand, amid growing chances of Donald Trump winning the election. Polymarket predicts a 57% probability of Trump winning. The gains on BTC were later neutralized, along with the declines on Wall Street - Trump mentioned that Alphabet's current position is too large and he may lobby for a breakup of the company's business during his potential presidency. What's more, he may cancel US Steel acquisition by Nippon Steel.
- Daly from the Fed indicated that moderate interest rate cuts are reasonable, and the balance sheet may be further limited. After this information, we see the dollar strengthening again and EURUSD falling below 1.0900
- Inflation in Canada falls to 1.6% y/y, with expectations of 1.8% y/y and the previous level of 2.0%. The probability of a 50 basis point cut by the BoC next week is growing
- USDCAD continues strong growth and is quoted at a level above 1.3800 - the highest since late July
- US100 loses over 1.2%, while US500 falls by over 0.7%, which is related to the neutralization of yesterday's gains and the response to hawkish comments
- Employment in the UK falls more than expected at 15 thousand. for September, another factor in favour of further BoE rate cuts
- GBPUSD remains just above 1.30
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