Market news
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Nordea Expects Three More Fed Rate Hikes on Labour Strength
Nordea analysts argue the Federal Reserve is likely to deliver three additional rate hikes over coming quarters, citing labour market strength as a key factor in bringing inflation back to target.
Japan Q2 GDP Seen Steady at 0.5% as Inflation Nears BoJ Target
ING highlights market consensus for Japan’s preliminary Q2 GDP holding at 0.5% quarter-on-quarter, with private consumption as the main growth driver and inflation near the Bank of Japan’s target.
Canada's Q2 Growth Rebounded Strongly, RBC Says
Royal Bank of Canada economist Claire Fan says Canadian growth rebounded strongly in Q2, supported by resilient domestic demand and improving net trade.
Fed Pause Keeps Systematic Gold Demand Supported, TD Says
TD Securities sees the Fed pause supporting systematic gold demand, with CTA net long positioning becoming more entrenched.
US Financial Conditions Ease to Most Accommodative Since 1997
The Index of US Financial Conditions has climbed to about 1.29 points, its loosest reading since 1997, supported by record equities and tight corporate credit spreads.
Treasuries Rise as Weak Retail Sales Dents Fed Hike Bets
U.S. Treasuries extended gains after July retail sales unexpectedly fell, pushing shorter-dated yields lower and narrowing market pricing for additional Federal Reserve tightening.
US Retail Sales Contract 0.6% in July, Missing Forecasts
US retail sales fell 0.6% month-on-month in July to $763.6 billion, reversing June’s 0.2% gain and missing expectations for a 0.1% increase.
US Retail Sales Unexpectedly Fall 0.6% in July
US retail sales dropped 0.6% month-over-month in July, well below forecasts for a small gain and signaling weaker consumer spending.
TD Securities Calls for Fed Communication Reset at Jackson Hole
TD Securities' Oscar Munoz says Chair Kevin Warsh's communication approach has weakened market confidence in the Federal Reserve's inflation-fighting credibility.
Retail Flows Surge Into Gold Miners ETF GDX
The gold miners ETF GDX took in $9 million of retail money on Wednesday, its sixth inflow in seven sessions, with month-to-date inflows at $419 million.
US payrolls surprise lower, easing inflation concerns
The US jobs report showed an unexpected 23,000 decline in July and downward revisions to prior months, pointing to softer labour market momentum and reduced inflation pressure.
S&P 500 closes at fresh record as cooler PPI cuts September Fed hike odds
The S&P 500 posted another record close Thursday after a cooler PPI print strengthened the view that the Fed will hold off on a September rate hike.
Copper Supply Crunch Deepens as LME Stockpiles Shrink
LME copper's one-month spread is the widest since 2021, with inventories down for 42 straight days and nearly half of remaining metal already earmarked.
WTI Oil Rebounds to $80.80 as Supply Fears Offset Demand Concerns
WTI crude is up 0.40% on Friday to around $80.80, recovering after two days of losses as Middle East supply concerns outweigh demand worries.
US Oil Output Seen Flat in August, Gas Production Rising
US crude output is projected at 13.83 million bpd in August, barely above July, while natural gas production is seen rising through September.
US Plans to Enlist Private Firms Against Overseas Cybercrime
Washington wants private contractors to help identify and disable infrastructure used by foreign cybercriminals, with a focus on transnational scam centers.
European Markets Hover as Iran Talks Stall and AI Valuations Stay Elevated
European equities are little changed in mid-session trading, with Iran negotiations showing no progress and AI sector valuations still elevated.
Fed Halts Reserve Management Purchases After Tapering to $10 Billion
TD Securities analysts discuss the Federal Reserve's decision to pause Reserve Management Purchases after reducing the pace from $40bn to $10bn.
Eurozone Q2 GDP Growth Holds at 0.4% in Flash Estimate
Eurostat’s flash estimate shows eurozone GDP expanded 0.4% quarter-on-quarter in Q2, unchanged from the preliminary reading.
Equities stay supported while US dollar remains under pressure
Global stock markets are holding a risk-on tone as soft US inflation supports expectations that the Federal Reserve will keep rates unchanged.
Regional Inflation Eases in July Except Poland and Czechia
Most of the region recorded a further slowdown in July inflation, while Poland and Czechia remained exceptions. Focus is shifting to Q2 GDP data.
US Price Pressures Ease as Trump Plans Drone Tariffs
Fresh signs of cooling US inflation are supporting market sentiment, while President Trump announces new tariffs on drone imports and components.
WTI Crude Regains Ground Near $80 on Supply Risks
West Texas Intermediate crude futures rose about 0.4% to around $81.40 in early European trading as energy supply risks continued to support prices.
Gold extends pullback from two-month high near $4,450
Spot gold is lower for a second straight day after approaching $4,450, its strongest level since June 5.