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Economic Updates

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Economic Updates

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US stocks finish mostly up in chaotic session after CPI slip

US equity markets whipsawed in a volatile session after CPI figures showed a slight softening in the headline reading, this saw stocks initially rally, before dipping and rallying again to finish the session on a strong footing. The Nasdaq outperformed in a lower yield environment and was given a boost by Alphabet (GOOG) which rallied over 4% amid ...

May 11, 2023
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US CPI preview – the chart to watch

Today’s US CPI number is the most important US data release this week. With the FX markets coming into this release with relatively low energy and searching for a catalyst any surprise will likely trigger significant intraday volatility in FX and other risk assets. We’re also coming into this release with a market split on the Feds next rate...

May 10, 2023
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US stocks fall ahead of CPI, Hawkish Central bank speak and debt limit limbo

US indices finished modestly lower on a light news day with traders cautious ahead of upcoming US CPI figures and following hawkish rhetoric from numerous ECB and Fed officials. There is also the US debt limit negotiations on the back of traders’ minds as agreement remains in limbo and talks look likely to be protracted. The Dow Jones was down...

May 10, 2023
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Asian markets looking to open flat after US stocks finish mixed in choppy, rangebound session

Major US indices finished mixed to flat on a slow news day and lighter than usual volumes not helped by the UK being on a holiday as traders seem to be waiting for pivotal inflation data released later this week. The Nasdaq, lifted by lingering good feeling from recent Tech earnings outperformed, finishing up 21 points, while a paring back of a ...

May 9, 2023
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Risk events in the week ahead – BoE set to hike, US CPI

US stocks rallied strongly on Friday on a stronger than expected Jobs report, improved banking sentiment and strong earnings from Apple (AAPL) which saw the Nasdaq up over 2% and erasing the weeks losses to finish the first week of May modestly in the green. Non-farm payrolls smashed expectations, coming in at 253k new jobs created in April ...

May 8, 2023
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US stocks sink in risk off session as banking sector woes continue to weigh

US stocks indices finished in the red in a choppy session with more regional bank selling, mixed data releases (including a surge in US Labour Costs) and another hike out of the ECB keeping traders busy. All four major indexes finished broadly lower with financials leading the declines as more headlines hit the newswires regarding issues with re...

May 5, 2023
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Asian session update – risk returns

Asian indices and US futures have bounced back so far in the session after gapping down at the open after the news that another US bank could be in trouble, namely PacWest, which I’m pretty sure we’ll be hearing more about in the coming days. The ASX200 has recovered from its negative open, helped by a strong trade balance figure and is curr...

May 4, 2023
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US stocks tumble on Fed rate hike and “hawkish pause” – Futures down after market as banking crisis fears return

Asian equities are looking to open lower taking a lead from Wall St where US stocks finished in the red, with most losses coming after the FOMC decision late in the US session. The FOMC hiked rates 25bp as expected and released what was seen as a mostly dovish statement that left the door open for a pause, this saw market initially rally and cho...

May 4, 2023
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US stocks slide on weak JOLTS report and lingering bank fears ahead of FOMC

Risk off returned as US stock indices were broadly lower in Tuesdays session on JOLTS job opening data showing a rapid weakening of the US labour market and regional banks again resuming their slide on lingering fears of the health of the sector. All four major indices finished well in the red, with the home of the aforementioned regional banks, th...

May 3, 2023
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US stocks finish flat in choppy low volume session, JP Morgan buys First Republic

Major US indices finished little changed in a lighter than average session with London and Europe closed for the May Day holiday with traders looking ahead to a busy week in Central Bank action. The Dow Jones, S%P 500 and Nasdaq all finished modestly in the red, with the Russell 2000 being the only index to finish positively after a last-minute ...

May 2, 2023
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Key events in the week ahead – ECB, RBA and FOMC

US stocks rallied into month-end on Friday with the VIX falling beneath 16 to finish off a volatile but ultimately positive month for global markets despite news of another bank collapse in the US. Risk appetite returned on mostly strong US earnings and the markets belief we are close to the end of Central Bank hiking cycles, the Dow Jones having i...

May 1, 2023
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Asian session looking to open up after Wall St rallies on strong earnings and data releases – tech leads after Meta beats

US stock indices rallied as risk appetite returned as banking fears seemed to take back seat and strong tech earnings saw the bulls in charge. The Dow and S&P 500 had their best day since January while the Nasdaq led the charge higher, rallying almost 2.5% after impressive tech earnings continued with Meta rallying 14% in the session. Te...

April 28, 2023
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US Stocks finished mostly down on bank stress – Nasdaq lifted by tech earnings

Major US Stock indices were mixed in Wednesdays session after  further banking woes dragged down the Dow, S&P500 and Russell while the Nasdaq held up thanks to strong earnings from Microsoft and Alphabet. The Russell 2000 was again the underperformer as mid-sized bank worries continued, seeing First Republic Bank (FRC) dump another 30%, dra...

April 27, 2023
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US equities fall on soft data and re-ignited banking fears

US stocks were broadly lower in Tuesday’s session as another US bank teetered on the verge of collapse and weak Consumer Confidence figures saw investors heading for the door. In a continuation of banking jitters, First Republic Bank (FRC) plunges to record lows after an earnings miss and reporting record deposit outflows seeing the stock pric...

April 26, 2023
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Key Events in the Week Ahead – BoJ meeting, US GDP, Aussie CPI

Coming off a choppy and mostly directionless week for Global Markets, this coming week looks to be more of the same as we enter the Federal Reserve blackout period ahead of their pivotal meeting on May the 3rd. While the economic calendar is light, there are a few risk events that could see some volatility in the markets, starting Wednesday with...

April 24, 2023
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