Nasdaq trades in narrow band as market eyes Friday's CPI data
The Nasdaq is consolidating at key resistance as traders await the US CPI report for direction.
The Nasdaq is consolidating at key resistance as traders await the US CPI report for direction.
Ethereum remains rangebound between $2,360 and $2,560 as traders await US CPI data. A breakout could target either $2,100 or $3,400.
UBS says gold's recent weakness reflects Fed rate expectations, while central bank buying and fiscal concerns support the metal's long-term case.
China's August CPI rose 0.8% y/y, matching forecasts, while PPI climbed 3.8%, slightly above expectations.
RBA Deputy Governor Andrew Hauser said the bank may raise rates again this month, citing three inflation risks; Sarah Hunter echoed the warning.
Factory confidence in Japan hit near five-year high in September Reuters Tankan, driven by chip demand; manufacturers index reached +21.
China's August CPI expected to rebound to 0.9% y/y on food prices, while PPI firms to 3.2%. Trade data shows exports beat but imports miss, surplus widens.
The US dollar ended mixed, Treasury yields rose, and stocks fell as traders awaited inflation data. Oil rebounded on Middle East tensions, while gold dropped.
China is set to release inflation figures on Wednesday, following a busy day of China-related news on Tuesday.
The U.S. Treasury auctioned $58 billion of 3 or notes at a high yield of 4.474%, with bid-to-cover of 2.72X above average.
USDCAD slipped below last week's low and broke the 1.3765–1.3778 swing area, reaching 1.3760 as sellers stayed in control.
NY Fed survey finds stable inflation expectations but highest fear of rising unemployment since April 2020.
US government bonds suffered their worst 10-year returns in over two centuries, losing roughly 2% a year. Bitcoin faces pressure as yields rise.
The US employment trends index improved to 108.53 in August, up from 107.71, as components showed positive average contributions.
BoE officials express concern over energy price rises and external risks with weak domestic economy.