-
Wall Street closed lower yesterday, reflecting market concerns over renewed trade uncertainty and a weaker-than-expected ISM manufacturing report. Futures indicate continued pessimism for today’s session (US500: -0.3%, EU50: -0.3%).
-
Donald Trump announced he will ask the Supreme Court for an expedited review of an appeals court ruling that declared most of his tariffs illegal. He warned their removal would hurt the U.S. economy, blaming the ruling for stock market declines. Enforcement has been delayed until October 14 to allow time for the Supreme Court’s decision.
-
U.S. LNG exports hit a record 9.33 million tons in August thanks to rising production at Plaquemines. Europe remained the main buyer, importing 6.16 million tons (66%), up from July. Demand declined in Asia and Latin America.
-
In the Asia-Pacific region, declines dominate, driven by trade uncertainty, mixed Chinese PMI data, and profit-taking. AU200.cash traded in the red for the 4th session in a row (-1.25%), while CHN.cash (-1.1%), HK.cash (-0.9%), and Japan’s Nikkei 225 (JP225: -0.55%) also fell, though Japanese losses were cushioned by gains amid some exporters (e.g. Canon: +0.5%).
-
Australia’s GDP grew above expectations in Q2 at 0.6% q/q (forecast 0.5%, prior 0.3%). Growth was driven by private consumption (both essentials and discretionary items such as recreation, culture, cafes) and government spending (0.2 pp). Net exports remained positive despite tariffs, while investments declined as many infrastructure projects neared completion.
-
South Korea’s GDP also beat expectations in Q2, growing 0.7% q/q (forecast and prior: 0.6%).
-
China’s Caixin services PMI unexpectedly rose to a 15-month high (53 vs forecast 52.4, prior 52.6), driven mainly by new business growth. However, margins remain under pressure from rising wages and material costs, prompting companies to cut jobs.
-
The U.S. dollar strengthened against most currencies for the second straight session, with the biggest gains versus emerging market currencies (e.g. USDPLN: +0.2%). Pressure on the pound continues after yesterday’s sell-off of UK 30-year bonds (GBPUSD: -0.2% to 1.336). The yen extended losses (USDJPY: +0.2%), while the Australian dollar (AUDUSD: -0.1%) and euro (EURUSD: -0.1% to 1.1628) showed the most resistance.
-
OIL saw a correction after recent gains (Brent and WTI down about -0.4%), NATGAS fell 0.5%, moving near yesterday’s open.
-
Gold slowed its sharp rally but held above the record $3,500/oz (-0.05% to $3,530/oz). Silver also corrected (-0.5% to $40.69/oz).
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
