Daily Market Report 30 Sep
Markets flat as traders digest Chinese stimulus impact and rising geopolitical unease
The Dollar is trading largely unchanged this morning, still on the back foot despite the worsening Middle East situation. The host of economic stimulus measures that were announced by Chinese authorities last week are underpinning risk sentiment. Markets will be watching out for Powell’s address on the economic outlook this afternoon, while the major data release is Friday’s nonfarm payrolls and unemployment numbers. The DXY index is currently at 100.39 as the Dollar trades at 1.1163 against the Euro, 1.3384 against the Pound, and 141.67 against the Yen. The Rand continues to lead EM markets stronger, with the local currency trading at R17.07 this morning. The Rand is heading for an almost unprecedented 14th day of gains.
Gold flat, Oil up on the Israeli attacks on Lebanon
Gold is trading unchanged at $2,659 as it continues to consolidate, while Platinum and Palladium are both marginally softer this morning. Brent crude is currently firmer at $72.92 as the Israeli attacks on Hezbollah targets in Lebanon continue and the IDF said it had also hit Houthi targets in Yemen.
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