Market Update – Risk-on Mood due to stimulus measures; Commodities climb
Asia & European Sessions:
- More new highs were set on Wall Street today as the Fed’s jumbo rate cut continues to reverberate. Fedspeakers indicated more cuts are in the future.
- European stocks are poised for a positive open, following a rally in Asian markets driven by China’s latest economic
Dovish Fed Boosts the NASDAQ, Easing Pressure from Weak PMI Data!
- PMI reports indicate more interest rate cuts are imminent and consumer demand is likely to slow.
- Investors expect the ECB and the Federal Reserve to continue cutting interest rates.
- The NASDAQ increased after the index traded sideways on Monday. US investors await the release of the US CB Consumer Confidence
Bigger Interest Rate Cuts Spark Surge In Demand For The NASDAQ!
- Stocks rally after the Federal Reserve chooses to “go-large” with a 0.50% interest rate cut.
- The NASDAQ rises more than 2.50% and the Dow Jones 1.26%. The Dow Jones trades at an all-time high.
- UK Retail Sales rose significantly above expectations. The Great British Pound Index rises 0.35% and is
Market Update – Gold at record highs; Stocks climb amid Chinese stimulus bets
Asia & European Sessions:
- Asian markets were mostly positive on Monday, buoyed by last week’s interest rate decisions from central banks in the US, Japan, China, and the UK.
- PBOC reduced its 14-day reverse repurchase rate to 1.85% from 1.95%, following a decision to keep key lending rates unchanged the
What Does Tonight’s Fed Rate Cut Mean For Gold and the Yen?
- The UK’s inflation remains at 2.2% as per previous expectations. The Pound remains slightly weaker on Wednesday.
- Gold retraces as traders increase the possibility of a 0.25% rate cut after yesterday’s Retail Sales.
- Gold positions break the previous annual record of 242.314K indicating the high demand. JP Morgan advises the
