Home Featured Market Update – October 31- October Ends!

Market Update – October 31- October Ends!

Market Update – October 31- October Ends!

  • USDIndex – The market moved a little this morning, but stayed below 111.00 This week, the Fed is ahead Treasuries were hammered into still Hot inflation numbers Conditions in the labor market are tight spooked bond holders and sparked heavy profit taking at week’s end. This morning, China’s In October, unexpectedly, factory activity declined in October JPY Retail sales beat but confidence in consumers and housing starts fell significantly  German Retail sales increased 0.9% m/m during September.
  • EUR – hovering around parity 1.0000.
  • JPY – further pressure at 147.90 BOJ decides to keep ultra low interest rates on Friday, despite disappointing retail sales this morning
  • GBP – Reverts to 1.1600 (75 bp increase from BOE on Wednesday)
  • Stocks – Steadied after closed largely in green last week. Guidance provided by mega tech, Amazon, Microsoft, Meta, Although earnings have generally outperformed, this is a low bar. Chevron & Exxon beat expectations. More revenue and better profit news Apple (up 7.6% Friday, Its largest daily rise since July 2020) has helped to boost investor sentiment today. FOMC After the Wednesday support of 75bps, aggressive rate increases will be stopped.
  • US30 The fourth consecutive week of higher levels saw all markets close…

Continue reading…