Markets hit record highs again in trading yesterday with the Dow closing at an all-time level of 40,954 and Gold finishing the day at $2,468 an ounce after solid US Retail Sales numbers were interpreted to support a pending cut from the Federal Reserve.
US Treasury yields dropped to levels not seen since March while the dollar continued to trade in the range against most of the majors. Oil prices dropped again as concerns on reduced demand from China continued to weigh on sentiment.
We see more key inflation data in the sessions ahead for traders with both New Zealand and the UK set to release CPI numbers which should see further volatility in local markets.
| Market | Change | Close |
| Dow | +1.85% | 40,954 |
| S&P | +0.64% | 5,667 |
| Nasdaq | +0.20% | 18,509 |
| USD | +0.07% | 104.31 |
| US Treasury – 2 Year | -0.5 bps | 4.447% |
| US Treasury – 10 Year | -6 bps | 4.167% |
| Oil – Brent | -1.3% | $83.73 |
| Oil – WTI | -1.4% | $80.76 |
| Gold | +2.05% | $2,468 |
Today’s Events:
Asian Session
- 8.45 am – New Zealand – Quarterly CPI Data
European Session
- 4.00 pm – UK – CPI and PPI Data
- 7.00 pm – EU – Final CPI Data
US Session
- 10.30 pm – US – Building Permits Data
- 11.15 pm – US – Industrial Production Data
- 11.35 pm – US – FOMC Member Waller Speaks
