Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
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US consumer inflation largely fell in line with expectations yesterday, with the headline year-over-year figure coming in at 2.9%. The bigger surprise came in the form of producer inflation the day prior, which showed PPI falling into negative territory at -0.1%, meaning that wholesale prices actually dropped in August. The long and the short of it is that the Federal Reserve has a pretty straightforward path to a 25-bps rate cut next week. A sudden spike in inflation figures may have stayed the Fed’s hand, but as it stands the risk of doing nothing outweighs the risk of looser monetary policy. The prospect of a greater reduction in rates appears to be off the table for the time being, although markets are pricing in a total of 75-bps in rate cuts before the end of the year.
Stocks markets are breaking records like it’s going out of fashion. From the US to Asia, indices around the world continued to hit fresh highs yesterday. In the US, the Dow Jones Index smashed through 46,000 for the first time in its history, while the Nasdaq Composite secured an accolade of its own by closing above 22,000 points. No significant milestones for the S&P 500 but the index also closed at record highs on Thursday. This morning in Asia, the major indices in Japan, Hong Kong and Korea are all currently sitting at all-time highs as well.
Momentum has shifted from gold to silver. While the former remains at all-time highs at around $3,650 per ounce, the latter has shifted up a gear and is now sitting comfortably above $42. We haven’t seen such prices in well over a decade and some investors are beginning to ask whether silver will soon break its long-standing record high of $49.95, established all the way back in 1980. Accounting for inflation the precious metal is still obviously way off par but the numerical milestone remains significant nonetheless. Following the rise in gold and silver, attentions are understandably shifting to cryptocurrencies and sure enough, Bitcoin has perked up a little over the past couple of sessions. $115k is the current valuation but once again Bitcoin dominance continues to slide, meaning the broader alt market is faring better. One to watch.
Эрсдлийн дохио : Худалдааны дериватив ба хөшүүрэг бүтээгдэхүүн нь өндөр түвшний эрсдэлтэй байдаг.
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