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Market Minutes
Read snapshots of the latest market news
Dollar strengthens, awaiting CPI data
ll eyes are now on the upcoming U.S. inflation data, with expectations of a 2.3% annual rise—the lowest in two years
Gold faces ongoing pressure amid strong U.S Dollar
Precious metal hovers near three-week low around $2,605 as market weighs Fed rate cut expectations and potential Middle East ceasefire
Gold prices pull back from record highs
Gold prices were pinned under pressure, as traders anticipated smaller Fed rate cuts and investors flocked to the dollar amid geopolitical uncertainty.
Japan's Yen worries resurface as RBNZ eyes rate cut
Japan's yen faces renewed pressure as verbal interventions from officials signal growing concern over a potential drop below the 150 level, while the RBNZ is expected to cut rates to counter inflation risks amid a cooling economy
NFP data pending
The dollar slipped from six-week high; up 1.5% for the week amid strong labor data and Middle East tensions
Global services PMI data lead today's calendar
Key reports on the radar include services PMI data from major global economies, US jobless claims, the ISM PMI, and Durable Goods Orders
RBNZ widely expected to cut rates by 50 bp
New Zealand Dollar: Pressured by expectations of a 50-basis-point rate cut by the RBNZ, with an 87% probability priced in.
S&P 500 closes at new record high, recovering from an earlier dip
Dow Jones and Nasdaq post gains alongside the S&P 500 for September and Q3
US PCE inflation falls to 2.2% in August
PCE price growth slowed from 2.5% yoy to 2.2% yoy, below expectation of 2.3%
Citi expects the yen to weaken
Citi Bank projects the USD/JPY possibly reaching 150 by late 2024 but falling below 140 in early 2025.