Apple’s iPhone 15 debut dimmed by consumer risk in U.S., China
Apple Inc.’s flagging rally will be put to the test again as its new product launches face wilting U.S. consumption and Chinese regulatory curbs.
USD Strengthened, US Oil Dropped, Gold Dives Further
PREVIOUS TRADING DAY EVENTS 02 Oct 2023 The PMIs had once more shown a grim picture, especially for the Eurozone. For the U.S. the picture is better for the manufacturing sector. S. manufacturing contracted for a 10th straight month in August, but the pace of decline continued to slow, suggesting sector stability. Manufacturing PMI increased […]
Rouble Recovers Slightly after Slide Past 100 vs Dollar
Oct 3 Reuters The Russian rouble weakened past the symbolic threshold of 100 to the dollar before recovering slightly in early trade on Tuesday, weighed down by foreign currency outflows and the country39;s shrinking current account surplus. The rouble39;s last tumble into triple digits in August led the Bank of Russia to make an emergency […]
Sterling Falls to 612Month Low Versus Dollar
Oct 3 Reuters Sterling fell to a new 612month low against the dollar on Tuesday on concerns about the economic outlook and expectations that the Bank of England might be done with rate hikes. The greenback reached fresh 11month highs after strong U.S. economic data bolstered the view that the Federal Reserve will keep interest rates higher […]
European Stocks Steady as Banks Offset Declines in Utilities
10year Treasury yield at 2008 highs Utilities index hits 10month low Boohoo slides on sales warning Oct 3 Reuters European shares were nearly flat on Tuesday, with gains in banks and insurers offsetting losses in ratesensitive utilities as bets that U.S. interest rates would remain higher for longer boosted Treasury yields and the dollar. Strong […]
FTSE 100 Edges Up, GBP Weakens, Boohoo Sinks on Forecast Cut
Boohoo flags annual revenue decline Burberry top decliner on FTSE 100 FTSE 100 up 0.3, FTSE 250 off 0.1 Oct 3 Reuters UK39;s exporterheavy FTSE 100 edged higher on Tuesday as a weaker pound boosted dollar earners, though shares of online fashion retailer Boohoo and food chain Greggs fell on disappointing earnings updates. The FTSE […]
USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Oct 20 when USD/JPY traded near 150.11.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bullish contrarian trading bias.
October commodities: Deflationary cycle may be in early days, with push from crude
Spiking oil is a GDP pressure factor and may leave gold to do what is has for much of history: outperform most commodities.
UK Shop Price Inflation at Lowest in a Year BRC
LONDON, Oct 3 Reuters Prices in British store chains rose at the slowest pace in a year in September, according to industry data that adds to signs that the UK39;s high inflation rate is set to extend its recent fall. The British Retail Consortium said annual shop price inflation cooled to 6.2 last month from […]
RBA Pauses Rates for 4th Month as Bullocks Debut Signals Continuity
SYDNEY, Oct 3 Reuters Australia39;s central bank held interest rates steady on Tuesday for a fourth month and showed no urgency to hike again, although it repeated a warning that further tightening might be needed to bring inflation to heel in a reasonable timeframe. Wrapping up its October policy meeting, the first chaired by Governor […]