- Wall Street futures rise modestly.
- European equity markets are trading negative.
- The dollar continues to rise, while the yen suffers a historic drop.
A cautious climate remains dominant in the equity markets. In Europe, the main stock markets fall, while Wall Street futures rise modestly. The dollar continues to climb and the yen accelerates depreciation.
Soft green that does not reach
The S&P 500 futures up 0.12% after Tuesday’s crash. Those of the Dow Jones rise 0.10% and those of the Nasdaq 0.14%. In Europe, the main indices fall on average 0.35%. The data from China contributed to the poor outlook for global growth.
The dollar remains firm in the market, with the Dollar Index at its highest in decades. USD/JPY is at the highest level since August 1998 near 145.00, EUR/USD around 0.9900 and GBP/USD at a new two-year low below 1.1450. The yen is the weakest and falls sharply.
A base of strength dollar The yields of the Treasury bonds continue to be, which, although they did not register significant changes on Wednesday, are in the zone of maximums in a long time. The 10-year tranche yields 3.33%, near the highest since June.
The pound returned to declines, after the start of the Liz Truss era as prime minister. officials of the Bank of England they are giving evidence before Parliament. On Thursday the new government would unveil its plan to deal with high energy costs.
Emerging market currencies are under pressure for these sessions, but the falls of this group of currencies have been less than those of developed countries. For example, USD/MXN is trading at 20.10, within a multi-day range and around the average level for the year.
Australia reported that the economy expanded 0.9% in the second quarter and 3.6% from a year ago. The China foreign trade data showed rises in imports and exports well below expectations, which contributed to generate caution in the equity markets.
When it comes to data ahead, the Federal Reserve’s Beige Book stands out on Wednesday. Various officials will speak about the central bank. The Bank of Canada holds the monetary policy meeting, which is expected to rise 75 points to 3.25%.
On Thursday, the European Central Bank will announce its monetary policy decision. The expectation is for a rise of 75 basic points in the interest rate.
Among the companies that will present results on Wednesday are GameStop, American Eagle Outfitters, Copart and Dave & Buster’s Entertainment.
pet pricesroil touched at least since February, but then bounced back. The barrel of WTI it is in the $87.00 zone, with a modest daily gain. the president of RussiaVladimir Putin pointed out that the country will not supply oil or fuel if maximum prices are introduced for its products.
The Prayed fell to multi-day lows below $1700 but then bounced back erasing daily losses. Cryptocurrencies are under pressure again. Bitcoin broke out of a multi-day range and fell to $18,509, the lowest since June this year. Ethereum falls more than 4%.
Technical levels
Source: Fx Street
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