Please note that you are entering the site for INFINOX Limited in Mauritius, who is regulated by The Financial Services Commission of Mauritius.
By clicking Continue, you acknowledge the information below.
You confirm that you wish to continue to open an account with INFINOX Limited in Mauritius, who is regulated by The Financial Services Commission of Mauritius.
By clicking continue, you acknowledge that you will not receive the protections that you would normally be afforded under EU regulation.
This website does not provide services to UK Clients.
Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
UK jobs data released today showed a surprise increase in wages, which boosted the odds of another 25 basis point rate hike by the Bank of England (BoE) to 90%.
Markets are relatively quiet today as participants digest yesterday's risk off flows following the slightly better than expected US CPI and a weak 30-year treasury auction. WTI saw a big bounce trading to $85.37 as geopolitical issues remain in focus.
Equities continued their march higher today, with the S&P 500 trading at its highest levels in three weeks. The move higher happened despite a big beat in US PPI data yesterday, which showed that inflation is still stubbornly high.
If we see a big miss in the PPI data today, we could look for downside opportunities in the USD versus the AUD, EUR, and XAU (gold), as well as possible long opportunities in equities.
Equity markets continue to bounce following Friday's NFP report, with ES futures up over 3% from their lows. Bond yields drifted lower yesterday, with US10Y falling back below the 4.70% level.
The recent escalation of tensions between Israel and Hamas has raised concerns about stability in the Middle East. This has put the focus on three key risks: oil, gas, and inflation.
Yields and the USD are both in limbo since yesterday as markets brace for an important NFP.
WTI crude oil took a tumble and broke below support at $85, but fundamentals remain intact.
The main focus for yields right now, in the short-term at least, remains on the very important incoming US data like the ADP employment report, ISM services PMI, and Friday's non-farm payrolls report.
The Reserve Bank of Australia (RBA) kept rates on hold at 4.1% during today's Asia-Pacific session, as expected. The bank also left the door open to more hikes if necessary. However, the market reaction was a tad surprising, with the AUD seeing a chunky move lower despite no surprises from the bank.
The past week was a tumultuous one for the capital markets, with bond yields surging, stocks falling, and the dollar gaining strength.
The other asset to watch is gold as a big miss in the data could give gold a decent nudge higher if both the USD and yields pull back a bit. Just take note momentum on gold is firmly to the downside so adjusting risk accordingly is important.
Sentiment recovers slightly as yields take a breather. Equities bounce, but VIX above 200DMA keeps markets cautious
Level up your trading activity - discover the INFINOX experience today.
Research & Insights
Our research will arm you with everything that you need to know to make the most of your financial trading opportunities.
Education
Curated especially for new traders. Our educational suite is an essential toolkit to getting started with your trading journey.
Apply online, quick & simple registration
Send us proof of identity and/or address for verification *Required for trading
Make your deposit easily, quickly and securely to start placing orders
Enjoy over 900 instruments to trade through INFINOX