30/08/2022
Five things you need to know today 30.08.22
🔻 US stocks extended last week’s decline as markets are now pricing in more aggressive rate hike in September following Powell’s speech at Jackson Hole. The market is ranging amid JOLTS and Consumer Confidence release scheduled today at 6pm Dubai Time.
↕️ Gold is trading lower at $1,723, while WTI jumped more than 4% to $97.67.
💵 The US dollar index retreated, the yield of 2-years year bond is currently testing the prices recorded back 2007 increasing at a higher pace than the 10-year yield.
🇪🇺 Small gains on the EUR, just shy of parity levels. GBP dipped to 1.1705, the lowest close since March 2020.
‼Biden is seeking approval from Congress for $1.1B arms sales to Taiwan.