Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
09:30
The Central Bank of the Eurozone, the ECB, has announced that it will hold a special meeting with the aim of discussing the turmoil in the markets and especially the jump in bond yields.
07:52
Asian stock markets are trading today in a mixed trend. The Nikkei index in Tokyo is down 0.8% and the Heng Seng index is up 1.4%.
This is after the Wall Street stock exchanges struggled last night in an attempt to recover from the sharp declines they recorded yesterday. At the end of a volatile trading day, the Nasdaq was up 0.2%, the Dow Jones was down 0.5% and the S&P 500 was down 0.4%.
In the macro arena, China announced today that retail sales fell 6.7% in May compared to economists’ expectation of a 7.1% drop.
Trading in futures contracts on US stock indices is now showing slight increases. The yield on 10-year US government bonds is down 5 basis points to 3.43%.
In the crypto trading arena, Bitcoin continues to decline, falling by about 5% and standing at $ 21,000. The etherium price stands at $ 1,133 (down 5.7%).
At 9 p.m., the Fed is expected to announce its monetary policy decision. If until a few days ago the players in the markets estimated that the Fed would raise the interest rate by 0.5%, then today the absolute majority of economists and investors expect an interest rate increase of 0.75%.
Rafi Gozlan, chief economist at IBI Investment House, explains that the higher-than-expected rise in the U.S. consumer price index is pushing the Fed for a more hawkish approach. In our estimation, increasing the dose to 75 points is expected in one of the next two decisions, “Gozlan notes, adding that the right step for him is to raise interest rates sharply now and not just at the end of July. .