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Market Summary

Market Briefing

Oil prices fell on the news John Bolton was leaving the White House, with traders betting on the likelihood of a conflict with Iran had been reduced. Crude oil fell by roughly 1.5%, trading near $62.70 a barrel.

Wall Street closed flat on Tuesday with a decline in tech shares weighing on stocks, traders await updates on stimulus measures from central banks.

China will allow the import of soymeal livestock feed from Argentina for the first time under a deal announced on Tuesday. This agreement will link the world’s top exporter of feed with the top global consumer.

Argentina has burned through $15 billion in foreign reserves over the last month to stabilize the peso, which crashed along side the country’s bonds after an electoral defeat for Mauricio Macri.

Apple unveiled the iphone 111 and undercut streaming rivals Netflix and Disney in pricing for its TV+ service. This announcement caused Disney shares to slip 2.2%, Roku to sink more than 10% and Netflix to fall 2.2%, as analysts estimate Apples TV+ service could gain 100m subscribers within 4 years.

EUR/USD exchange rate steadied around $1.105 today after July’s Italian industrial output eased on the month.

GBP/USD struggled to hold gains against the U.S dollar after the U.K employment report for July showed solid wage growth and a slight decrease in the unemployment rate.

USD/JPY reached a fresh one-month high, underpinned by rising treasure yields.

Gold continued to fall on Tuesday, hitting near one-month lows, as traders wait to see if the European Central Bank proceeds with a rate cut that would be friendly to the precious metal.

Today’s News

Server TimeHK TimeCurrencyDescriptionExpectation
3:308:30AUDWestpac Consumer Sentiment-
15:3020:30USDCore PPI m/m0.2%
17:3022:30USDCrude Oil Inventories-2.9M

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