What you need to know on Tuesday, September 28:
The week started in slow motion, with the dollar falling modestly against high-yielding rivals, but rising against the yen. The latter was hit by the rise in US Treasury yields, as the 10-year yield rose to 1.51%, its highest level since July. USD / JPY is trading above the 111.00 level.
Chinese stocks made modest gains amid a decline in concerns related to Evergrande’s potential default. Global indices ended up mixed as investors lacked a catalyst, trying to figure out what “soon” means for the US Federal Reserve The central bank has paved the way to cut its pandemic-related facilities, and Wall Street is handling the idea quite well.
EUR / USD remained depressed, consolidating around 1.1700. GBP / USD made a modest intraday advance and settled just above the 1.3700 level. Commodity currencies performed the best, cutting Friday’s losses. AUD / USD is trading around 0.7290 and USD / CAD around 1.2625.
Gold posted a modest intraday advance, currently trading around $ 1,750 a troy ounce. Crude oil prices were firmly higher, with the WTI settling at $ 75.30 a barrel.
Being the last week of the month, the macroeconomic calendar has little to offer. The United States will release the final reading of its Gross Domestic Product for the second quarter, while Europe will provide updates on inflation.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
