Ikhtisar Pasar
Cooling Core PCE Fails to Lower Long-End Yields, Gold and Dow Weigh Down; Diesel Supply Concerns Drive WTI Crude Oil to Close Higher
Market Themes The most notable change on September 30 was that cooling inflation failed to push down long-end interest rates. US July Core PCE recorded 3.0% YoY, below expectations of 3.3%, which initially lowered market bets on further Fed tightening; however, on the same day, final Q2 GDP came in at 2.2%, higher than the expected 1.5%, and ADP employment…
Middle East Export Recovery Suppresses Crude Oil, Falling Oil Prices Ease Inflation to Help Gold Rebound
Market Themes On September 29, news of marginal easing emerged on the crude oil supply side: Middle East exports via the Strait of Hormuz recovered to more than 80% of their pre-war daily average; additionally, reports indicated that Trump supports an early-stage proposal to swap political prisoner releases for a softening of Russian sanctions, which, if progressed, could erode the…
Precious Metals See Concentrated Profit-Taking at High Levels, WTI Crude Oil Closes Higher Independently
Market Themes On September 28, precious metals led the day’s losses during the Asian session, with concentrated selling pressure persisting throughout the day and weakness continuing into the US session. Gold and Silver simultaneously recorded their largest single-day declines in recent times, surrendering multiple round-number marks in succession; the price behavior closely resembled profit-taking and a pullback in risk premiums…
USD Strength Weighs on Gold and European Currencies, While WTI Crude Rebounds to Recover Four Psychological Levels
Market Theme On September 23, the US dollar strengthened broadly, while the euro and pound both posted their third consecutive daily declines, falling below 1.1400 and 1.3300 respectively. Spot gold retreated after rising earlier in the session, falling 1.58% to close at 4,289.38, while the Nasdaq 100 also pulled back from its intraday high. WTI crude oil was the only…
USD Weakness Supports Precious Metals and Nasdaq, While WTI Crude Oil Posts a Fifth Straight Decline
Market Themes The most notable development on September 22 was the divergence between rate-sensitive assets and crude oil. Spot gold closed at 4,358.25 (+0.34%), silver at 67.068 (+1.64%), and the Nasdaq at 30,748.3 (+0.78%) for a fourth consecutive gain; WTI crude oil closed at 93.729 (-2.39%), marking its fifth straight daily decline. Broad USD weakness reduced the opportunity cost of…