- The Asia-Pacific indices are recording a bearish session. The Chinese market is down by approximately 1%, Japan's Nikkei 225 index is losing 0.2%, and futures contracts for Singapore's SG20cash index are trading 0.5% lower.
- The declines on Asian stock markets are driven by the latest sell-off in US markets and worrying economic outlook.
- Futures contracts on European indices also point to a lower opening of the cash session. The DAX and UK100 are trading 0.2% lower.
- One of the bad performing currencies today is Mexican Peso and Norwegian Krone both losing around 0.2% to USD. On the opposite side is Thai Baht, which is gaining 0.7% to USD after better than expected CPI data. rises 0.35% y/y, just below forecast.
- Analysts believe that Indian rupee might be overvalued to USD and that the Reserve Bank of India will continue to intervene in the market to keep the currency in a range.
- Singapore retail sales data were below consensus today 1% vs 1.5% expected, with department stores leading the decline.
- Markets are now pricing in a 44% chance of the Fed cutting rates by 50 basis points at its Sept. 17-18 meeting, up from 38% a day earlier, which makes deeper cuts more likely than 25 bps. The market is pricing in 110 bps of easing this year.
- Bitcoin is losing almost 1.5% today, after completely erasing losses yesterday and is currently trading at 57.149 USD. Ethereum is seeing even greater losses of 2.1% to $2,404.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
