- Oil loses slightly despite the still unsettled situation in the Middle East, where a precision strike by Israeli drones killed one of Hamas' leaders, Al-Arouri, in Beirut, the Lebanese capital. As a result, Hamas broke off all negotiations with the IDF, and the diplomatic visit of Israeli diplomats to Egypt was immediately interrupted. Brent and WTI lost 0.09% and 0.18%, respectively, indicating that investors, however, do not see the event as an inflammatory moment for the region
- The Nasdaq 100 closed yesterday's session with more than a 1.7% correction. Apple shares were down sharply, after Barclays analysts downgraded their recommendation, citing cooling demand for iPhones. Higher investor activity was observed on healthcare sector, where Pfizer and Moderna shares surged.
- A sell-off in the US tech sector and a strong dollar were supported by rising yields on 10-year US Treasury bonds, by more than 8 bp
- The U.S. dollar yesterday posted its biggest gains since March 2023, and for the most part that rally is maintained, despite a little correction today. Weaker PMI readings from U.S. industry did not trigger significant profit-taking on USD
- IMF chief Georgieva indicated that the U.S. Federal Reserve is 'definitely achieving a soft landing. The dollar is reducing yesterday's slighlty, with USDIDX losing 0.10% and EURUSD trading almost 0.15% higher
- Precious metals contracts are trading with modest gains. Gold gains 0.05% and silver 0.17%
- A strong USD and weaker sentiment on Wall Street pressured Asian benchmarks. The Hang Seng closed the session almost 1% lower, but the technology benchmark lost 1.8%. South Korea's KOSPI lost more than 2%.
- After still weak macro readings, CSJ analysts expect China to cut interest rates and the reserve requirement ratio (RRR) in 2024. Chinese diplomats have told Taiwan to do good choice in an election year, stressing that it will be a choice 'between war and peace, between economic prosperity, and recession'
- Cryptocurrencies traded mostly higher, with Bitcoin quickly halting a temporary correction and trading above $45,300 again. According to Reuters sources, the SEC may approve applications for spot ETFs on Bitcoin, of all issuers, later this week, as fast as today or tomorrow
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