Market participants appeared to be taking more positions in risky assets, with safe-haven Gold and Oil prices down, while monitoring the Israeli war in Gaza, which is still heating up, with high death toll, including many women and children, after efforts to arrange a cease-fire stalled.
Today, the Asian stock markets are expected to follow the strengthening of US capital markets as investors highlight the development of the Middle East conflict. Major US stock indexes ended in an average of 1% higher on Monday (16/10/23), with the Consumer sector leading the increase in S&P 500 index, as investors were optimistic about the start of earnings season; while transportation and small-cap shares also jumped.
US10YT is stuck between the MA20 Support & MA10 Resistance, in a narrow range of yields: 4.635% – 4.671%. Watch the breakout direction before making a decision. Support follows: lower channel (uptrend) around 4.57%.
US INFLATION and how that information affects the US central bank’s decision on the continuation of their monetary policy, was in the spotlight last week after mixed employment data in the previous week still raised debate on whether the Federal Reserve will go ahead with plans for one more interest rate hike before the year ends.
The S&P 500 and the Nasdaq closed lower on Friday as deteriorating consumer sentiment data and the Middle East conflict soured investors on riskier bets and overshadowed upbeat quarterly earnings from some of the largest U.S. banks.
US10YT finally managed to rebound at Support lower channel (pink), lifting yield back above MA20 (= 4.611% so Support now). The current effort is to break the MA10 Resistance / 4.70% yield for US10YT back towards the previous High level of 4.884% as the nearest TARGET.
Wall Street’s main indexes closed in negative territory on Thursday (12/10/23) with Nasdaq leading the way down 0.63%, after surging US Treasury yields in following US Inflation data (Sept) that was released stronger than expected.
The release of minutes from the last FOMC meeting in September, which showed caution among policy makers about continuing the upward trend in interest rates, is fueling investor hopes that rates would stay steady, at least at November meeting of the US central bank.
Wall Street’s major indexes closed higher on a highly volatile Wednesday (11/10/23) trading, after the release of minutes from the last FOMC meeting in September, which showed caution among policy makers about continuing the upward trend in interest rates, is fueling investor hopes that rates would stay steady, at least at November meeting of the US central bank.
