Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
Trading in Asia is on a positive trend, with price increases on most stock exchanges on the continent. In Tokyo there is no morning trade following the mid.autumn holiday.
The Shanghai Stock Exchange is up 0.6%, while Shenzhen is up close to 0.8%. The Hong Kong index is up 0.7%. Chinese Evergrand climbs above 10% this morning, after several days of sharp declines. Shiomi loses 2.8%, car company Gili deletes 4.5%.
US crude oil inventories fell by 3.48 million barrels, compared to expectations of 2.44 million barrels. The figure indicates a recovery in the US economy and the return of fuel demand. Dollars per barrel and Brent crude traded at $ 76.3 per barrel.
The US Federal Reserve last night announced that US interest rates will remain unchanged at 0.25%. However, most committee members now expect a first rate hike in 2022. Also, Fed Chairman Jerome Powell said at the party Journalists that the reduction in bond purchases may happen as early as November so that the process will be completed by mid.2022. Powell told reporters that policy tightening “may come as early as the next meeting” (November 2.3).
Following the announcement, the gains on Wall Street intensified and the leading indices strengthened by about 1%. Facebook Lost 4% after updating that Apple’s privacy update would hurt its targeted advertising and revenue from advertising activities.
At 15:30 Israel time, the weekly unemployment data will be published in the United States, with the expected number of initial unemployment claims at 320,000 – a decrease of about 12,000 compared to the previous week. At 14:00 noon, the interest rate decision will be published in the UK.
The crypto market is also recovering this morning, with Bitcoin rising 5% to $ 44.2 thousand, and Ether rising 8% to around $ 3,120. The solo currency jumps by 16% compared to yesterday and soars to $ 149 per unit.