Overnight Market Wrap: 13 October 2022

Overnight Market Wrap: 13 October 2022

Key Points:

  • Global Equities Fluctuate Ahead of Key US CPI Data
  • S&P 500 futures climb after benchmark set new 2022 low
  • Yen weakened to fresh two-decade low on Kuroda’s policy vow

US equity futures and Australian shares climbed while Japanese stocks opened lower in mixed, cautious trading as investors await highly anticipated inflation data later Thursday.

The support for US equities followed the sixth consecutive decline for the S&P 500, which fell to the lowest level since November 2020. Hong Kong equity futures fell, underscoring the cautious mood. The dollar held on to recent gains and the yen tumbled to a fresh 24-year low that puts traders on watch for intervention from Japan. Treasuries rallied.

Minutes released on Wednesday from the Fed’s last meeting suggested some officials considered reducing the pace of rate hikes, which triggered a brief surge on Wall Street that quickly unwound.

The pound advanced after a busy day of bond buying from the Bank of England, which reiterated the view that its emergency support for the gilt market would cease on Friday, contradicting a media report that suggested it could endure.

The Biden administration is considering adding aluminum to economic sanctions against Russia. Vladimir Putin said any energy infrastructure in the world is at risk after the explosions on the Nord Stream pipelines. Oil benchmarks fell more than 2% on Wednesday.

Trade the global markets with a broker that has integrity, honesty and transparency at its core


Market Wrap: 24 August 2023

Stocks Rally on Tech Optimism, Fed Rate Outlook:  Lackluster US, Europe economic data opens door for rate pause Nvidia’s bullish sales outlook prompts after-hours stock

Read More »

Market Wrap: 15 August 2023

Yuan Falls on PBOC Rate Cuts; Asian Stocks Mixed:  Japan’s economy shows resilience as growth beats estimates Economic woes mount in China as post-pandemic recovery

Read More »

Market Wrap: 11 August 2023

China Tech Pulls Asian Stocks Lower; Dollar Steady:  US core CPI posts smallest back-to-back increases in two years Daly says Fed has ‘more work to

Read More »

Market Wrap: 31 July 2023

Asian Stocks Echo US Rally on Soft Landing Hopes:  Yen declines after unscheduled Bank of Japan bond buying China manufacturing PMI data shows contraction in

Read More »

Market Wrap: 27 July 2023

Stocks Rise, Dollar Slips as Rates Peak in Sight:  ECB will raise rates by another quarter-point, survey shows US data Thursday include GDP, initial jobless

Read More »

This website is owned and operated by the Ox Securities group of companies, which include:
Ox Securities Pty Ltd registered address Level 37, 1 Macquarie Place, Sydney NSW 2000 Australia. AFSL 438402 ACN 163 551 602
Ox Securities Limited (SV) registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St Vincent and the Grenadines
Risk Warning: The information contained on this website is general in nature and does not constitute advice or a recommendation to act upon the information or an offer. The information on this website does not take into account your personal objectives, circumstances, financial situations or needs. You are strongly recommended to seek independent professional advice before opening an account with us and/or acquiring our services/products. Ox Securities Limited (SV) do not accept applications from residents of the United States of America and Australia
Before you decide whether or not to invest any products referred to on this website, being over the counter (OTC) derivatives, it is important for you to read and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS), and Terms and Conditions (T&C), and ensure that you fully understand the risks involved. Fees, charges and commissions apply. OTC derivatives, including margin foreign exchange contracts and contract for differences, are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone. You may incur losses that are substantially greater than your initial investment. You do not own, or have any rights to, the underlying assets which the OTC derivative is referring to. You should only trade with money you can afford to lose. There are also risks associated with online trading including, but not limited to, hardware and/or software failures, and disruptions to communication systems and internet connectivity.

Copyright © OxSecurities 2020. All rights reserved