Daily Market Update
As expected, markets had a quiet start to the week in trading yesterday as investors look ahead to key inflation data out of the US. The major US indices all closed close to flat with only the Nasdaq showing signs of life, with a 0.3% increase. There were some bigger moves in commodities as Oil pushed higher on improving demand from major players China and the US and Gold retraced its recent move higher, dropping 1% on the day.
Traders are looking ahead to a busier day ahead today with key employment data due out in the UK as well as the first major US inflation print of the week in the form of the PPI numbers. We are also set to hear from Fed Chair Jerome Powell later in the day.
| Market | Daily Change | Close |
| Dow | -0.21% | 39,431 |
| S&P | -0.02% | 5,221 |
| Nasdaq | +0.29% | 16,388 |
| USD | -0.1% | 105.21 |
| US Treasury – 2 Year | -1.0 | 4.857% |
| US Treasury – 10 Year | -1.6 | 4.489% |
| Oil – Brent | +0.69% | $83.36 |
| Oil – WTI | +1.1% | $79.19 |
| Gold | +1.0% | $2,336 |
Today’s Events AEST:
European Session
- 4.00 pm – UK – Claimant Count, Average Earnings and Unemployment Rate
- 7.00 pm – EUR – German ZEW Economic Sentiment
US Session
- 10.30 pm – US PPI and Core PPI
- 12.00 am – Fed Chair Jerome Powell Speaks
