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11th November 2022 Market Updates

FPG Fortune Prime Global Overnight headlines 

Overnight headlines 

The Federal Reserve now has some leeway to moderate the rate of interest rate increases after annual inflation in the United States dropped to 7.7 percent last month, the lowest level since January. 

Since February, the consumer price index has increased at an annual pace of less than 8% only once, in October. In June, the annual CPI reached a high of 9.1%. 

The 10-year US Treasury yield fell 27 basis points to 3.82 percent. 

The local currency increased by 3%, surpassing US66, while the Bloomberg dollar spot index decreased by 2%. 

Bitcoin’s price on bitstamp.net increased by 12.8% to $US17,955. 

All 11 of the S&P 500’s industry categories experienced growth on Wall Street. The VIX decreased by 9.7%. 

 

Market movements 

  • Bitcoin gained 12.8% to $US17,955 while AUD increased by 3% to 66.23 cents
  • Dow +3.7%, S&P +5.5% on Wall Street Nasdaq up 7.4%
  • BHP +4.5% Rio +4.2% Atlassian +15.2% in New York
  • Stoxx 50 increased 3.2% in Europe. DAX +3.5%, CAC +2%, and FTSE +1%
  • Spot gold increased by 2.6% to US$1750.85/oz. 
  • Brent crude increased by 1.7% to US$94.18/barrel. 
  • Iron ore decreased by 1.6% to US$88.15/ton. 
  • The 10-year yield was US$3.82%. Australasia 3.71 % Europe 1.99%

 

Today’s agenda 

Local: Business NZ manufacturing PMI for October 

Overseas data: Final German CPI for October; preliminary UK GDP for the third quarter; and preliminary US 

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