Ipek Ozkardeskaya
Swissquote Bank Ltd
Europe’s biggest company revealed its results a day earlier – by accident – and the results were not good at all. ASML booked about half of the orders pencilled in by analysts last quarter as demand outside AI continued to struggle.
Then, the US announced yesterday that it will restrict the advanced chip exports from Nvidia to AMD to countries that do have connections to Gulf countries, for national security reasons. The shares dipped.
Elsewhere, crude oil sold off heavily for the second session on relief that Israel is planning to hit Iran’s military rather than its energy structure. The barrel of US crude tipped a toe below the $70pb level. The US dollar consolidated gains, the EURUSD extended losses, while Cable sold off below the 1.30 on the back of softer-than-expected inflation report.
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EUR/USD stays pressured below 1.0900 amid risk aversion
EUR/USD remains under pressure below 1.0900 in the European session on Wednesday. The pair faces downward pressure due to a renewed US Dollar upswing, as risk sentiment falters on China concerns. Dovish ECB expectations also undermine the pair.
GBP/USD remains heavy near 1.3000 after soft UK inflation data
GBP/USD stays under bearish pressure near 1.3000 in the European session. The data from the UK showed that the annual CPI inflation declined to 1.7% in September from 2.2% in August, weighing heavily on the Pound Sterling.
Gold price advances to three-week top amid risk-off mood, bullish USD might cap gains
Gold price scales higher for the second straight day on Wednesday – also marking the fourth day of a positive move in the previous five – and climbs a three-week high, around the $2,677-$2,678 region heading into the European session.
Bitcoin holds onto recent gains, with $70,000 in sight
Bitcoin’s price stabilizes around $67,000 on Wednesday after rallying and breaking above a key resistance barrier on Tuesday. The rise in BTC comes after US Spot ETFs recorded a second straight day of inflows of over $373 million on Tuesday.
British inflation dips to 1.7% in September
And speaking of inflation and Europe, inflation in Britain not only fell below 2% in September but came in significantly lower than expected (1.7%y-o-y vs 1.9% expected).
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