Ipek Ozkardeskaya
Swissquote Bank Ltd
The European and US indices rebounded on Monday, though the rebound was probably not based on high conviction, but looked more like the correction of last week’s decent selloff.
In the US, the 2-year yield consolidated below the 3.70% level, but the US dollar index rebounded ahead of Wednesday’s CPI data – that will certainly not change the expectation of a 25bp cut from the Federal Reserve (Fed) at next week’s policy meeting, but that could – if significantly different than expectations – revive or temper the dovish Fed expectations for the rest of the year. The EURUSD extended losses to 1.1040 and the USDJPY rebounded from August lows.
Apple closed nearly flat after revealing its new products yesterday. Apple Intelligence failed to impress.
Market’s attention will shift to politics as Donald Trump and Kamala Harris will face off in a debate today.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
Recommended Content
Editors’ Picks
EUR/USD falls as Wall Street turns red
EUR/USD turned bearish as Wall Street gives up and major indexes turn red. The pair trades near a fresh weekly low in the 1.0460 price zone. Earlier in the day, the European Central Bank trimmed interest rates as expected, and the United States published discouraging employment and inflation-related data.
GBP/USD dips below 1.2700 as US Dollar surges on risk aversion
GBP/USD finally broke below the 1.2700 mark in the American session, as sentiment shifted to the worse, following dismal US employment and inflation-related data. The poor performance of stocks and an uptick in Treasury yields boost demand for the US Dollar.
Gold could extend its corrective slide
XAU/USD fell towards $2,680 and remains under pressure as investors diggest US figures and the European Central Bank monetary policy announcement. Inflation in the US at wholesale levels rose by more than anticipated in November, according to the latest Producer Price Index release.
-637336005550289133_Medium.jpg)
Chainlink surges amid World Liberty purchase, Emirates NBD partnership and CCIP launch on Ronin network
Chainlink price surges around 15% on Thursday, reaching levels not seen since mid-November 2021. The rally was fueled by the Donald Trump-backed World Liberty Financial purchase of 41,335 LINK tokens worth $1 million on Thursday.
Can markets keep conquering record highs?
Equity markets are charging to new record highs, with the S&P 500 up 28% year-to-date and the NASDAQ Composite crossing the key 20,000 mark, up 34% this year. The rally is underpinned by a potent mix of drivers.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.