US Stock indices took a breather yesterday as chip manufacturers and Oil producers came under pressure after weaker demand fears hit the market. Bond markets experienced a mixed day, and the dollar crept higher.
Oil prices dropped hard again as reports came through that Israel would not target Iranian Oil facilities alleviating supply worries which combined with overall global demand concerns that have impacted the market on recent data. Gold again traded higher and is once again in touching distance of record levels.
The event calendar is again relatively light today with inflation data in focus out of both New Zealand and the UK which should see some volatility in local markets, although expect earnings and geopolitical concerns to dominate as we progress through the trading day.
| Market | Change | Close |
| Dow | -0.75% | 42,740 |
| S&P | -0.82% | 5,811 |
| Nasdaq | -1.01% | 18,315 |
| USD | +0.01% | 103.27 |
| US Treasury – 2 Year | +1.1 bps | 3.982% |
| US Treasury – 10 Year | -3.9 bps | 4.034% |
| Oil – Brent | -4.14% | $74.25 |
| Oil – WTI | -4.40% | $70.58 |
| Gold | +0.42% | $2,661.67 |
Today’s Events (AEST):
Asian Session
- 8.45 am – New Zealand – Quarterly CPI Data
European Session
- 5.00 pm – UK – CPI Data
US Session
- 5.40 am – Eurozone – ECB President Christine LaGarde Speaks
