Market overview
Caution controls the market
The U.S. dollar dominates
It is all about Fed’s decision
ECB policymakers support stimulus reduction
FOREX
USDX
The US dollar index extended a relentless upward move, reaching a new two-year peak. The dollar index rose as high as 99.904 in early Asia trade, its best level since May 2020. Additionally, the index was up 1.3% this week, which would be its biggest advance in one month.
Meanwhile, the benchmark U.S. 10-year Treasury yield also hit a three-year high during the previous session. The Fed’s hawkish outlook in its latest meeting gave the greenback an extra boost.
EURUSD
The Euro fell 0.2% to 1.0855, at a new one-month low against the greenback, amid an agreement of the European Union to ban Russian coal. This decision came out as punishment for the Russian attack on Ukrainian.
The notes from the March meeting of the European Central Bank showed policymakers eager to de-stress stimulus. However, but the specter of a euro-area recession caused the central bank to pause.
Elsewhere
The Japanese Yen weakened against the U.S. dollar. The USDJPY pair gained 0.1% to 124.09, climbing to its highest level in over a week and approaching near seven-year high of 125.10. Meanwhile, the Cable fell 0.2% to 1.3043, Aussie edged lower to 0.7477, while the Chinese Yuan weakened to trade at 6.3626 per U.S. dollar.
INDICES
United States
U.S. stock indices were mostly green yesterday as market participants burst up beaten-down shares, while the U.S. dollar climbed. Additionally, the U.S. 10-year Treasury yield touched a three-year high following the hawkish signals from the Federal Reserve.
The Dow Jones Industrial Average rose 0.25% to 34,583.57, the S&P 500 gained 0.43% to 4,500.21, while the Nasdaq Composite was almost flat around 13,897.30.
Europe
European stock markets opened higher this morning, ending a volatile week on a positive pace. Market participants continued to digest the potential of tighter monetary policy, more sanctions on Russia, and potential French political turmoil. The German index DAX futures traded 1.4% higher, the French index CAC 40 futures rose 1.5% while U.K.’s FTSE 100 futures climbed 1%.
Despite these gains, European equity markets are set to end the week lower. This week the DAX shed around 1.2%, the CAC 40 down 1.9%, and the Euro Stoxx 50 index was 1.6% weaker.
Asia-Pacific
Asia Pacific stocks were mostly down on Friday morning. However, investors continue to monitor both the U.S. Federal Reserve’s monetary policy plan and the latest COVID-19 outbreak in China.
Japan’s Nikkei 225 edged down 0.19% amid data released earlier showing February current account was JPY1.648 trillion ($13.31 billion). In China, Hong Kong’s Hang Seng Index was down 0.53%, while China’s Shanghai Composite was down 0.69%. On the other hand, the Australian ASX 200 rose 0.62%.
METALS
Gold futures traded 0.46% lower at $1,928.9 in Asia. The dollar strengthened as the U.S. Federal Reserve looks to tighten its monetary policy quicker than expected. This sudden change in pace partially offset the safe-haven demand from the ongoing war in Ukraine.
Gold is supported by the Ukraine war, rapid inflation, and the COVID-19 pandemic. However, the Fed’s aggressive stance to fight inflation will put a lid on gold prices.
Silver inched 0.1% lower, platinum shed 0.2%, while palladium rose 1.4%. Both platinum and palladium are set for fifth consecutive weekly losses.
ENERGY
Oil prices rose on Friday but lost around 3% during the week. Consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia. The release of strategic inventory may prevent crude oil producers from increasing output even with high oil prices.
Furthermore, market participants are assessing the oil market amid uncertainties over slowing demand in China due to COVID-19 outbreak.
Brent crude futures advanced 0.2% to $100.77 a barrel, while WTI crude futures gained 4% to $96.37a barrel.
尊敬的客户: 您好,我司期货产品十一月份的展期将至,因新旧期货合约之间存在价格差异,为规避潜在的交易风险,建议客户妥善控制仓位。 期货合约的展期时间如下: 产品代号 产品名称 展期日 FRA40ft France 40 Index Future法国CAC40指数(期货) 2024-11-14 CL-OIL Crude Oil…
尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月4日 2024年11月11日 2024年11月15日 2024年11月20日 假期 万圣节 卡塔赫纳独立日 共和国日 黑人意识日 BVSPX巴西股指(圣保罗指数) 正常…
尊敬的客户: 请注意,由于2024年11月3日实施的美国夏令时变化,以下产品的交易时间将会调整。 产品代号 交易时间 (GMT+2) Cocoa美国可可豆现货 星期一~星期四: 11:45-20:30星期五: 11:45-20:27 Coffee阿拉比卡咖啡豆现货 星期一~星期四: 11:15-20:30星期五: 11:15-20:27 Sugar11号精糖现货 星期一~星期四:…
尊敬的客户: 您好,受即将到来11月份假期影响,STARTRADER的交易时间将有所调整。 请参考下表了解涉及调整的产品情况: 日期 2024年11月1日 假期 万圣节 USDCLP美元兑智利披索 闭市 USDINR美元兑印度卢比 闭市 *所有日期均为GMT+3(MT4/MT5服务器时间) 请注意:在市场流动性下降情况下,点差可能会较正常平均水平显著扩大,我们建议客户在交易时要妥善管理仓位、确保账户资金充足,并且进行谨慎交易。 如果您有任何疑问或需要任何帮助,请随时发送电子邮件至 info@startrader.com 或透过线上聊天 https://www.startrader.com/ 联系我们。 感谢您的支持!STARTRADER团队
尊敬的客户: 您好,我司期货产品十月份的展期将至,因新旧期货合约之间存在价格差异,为规避潜在的交易风险,建议客户妥善控制仓位。 期货合约的展期时间如下: 产品代号 产品名称 展期日 VIX Volatility恐慌指数期货 2024-10-11 FRA40ft France 40 Index Future法国CAC40指数(期货) 2024-10-16…
尊敬的用户: 我们很高兴地宣布,STARTRADER 将于2024年10月28日推出十六款新产品,旨在为我们的客户提供更加多样化的投资组合。这些新产品将仅在我们的 MT5 服务器上提供。 请参阅下表了解新产品的详细信息: 产品代码 说明 类型 合约规模 最小手数 最大手数 3日库存费 交易时间(GMT+3) VFS…