KBC Market Research Desk
KBC Bank
-
European shares rebound today, supported by decent PMI data. Major indices gain up to 1%. US Equities opened in positive territory too.
-
US eco data showed a mixed picture. The Richmond Fed index dropped from 10 to ‐11 in August, reversing the July uptick. New home sales rose by 12%, reaching new multi‐year highs.
-
UK manufacturers' export order books reached a two‐year high as the depreciation of sterling is feeding through to stronger overseas demand, the CBI said today, adding that total order books were largely unchanged but remained comfortably above the long–run average.
-
Hungary's central bank kept its benchmark interest rate unchanged at its record low of 0.9%, in line with expectations. The central bank said it will decide on the operational details of the limits on 3‐month deposits in September. The forint strengthened slightly further.
-
Turkey's central bank cut its overnight lending rate by 25 basis points to 8.5%, in line with expectations. The overnight borrowing rate and benchmark repurchase rate stayed unchanged at 7.25% and 7.5% respectively. The lira strengthened slightly today.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
Recommended Content
Editors’ Picks
AUD/USD keeps the red below 0.6400 as Middle East war fears mount
AUD/USD is keeping heavy losses below 0.6400, as risk-aversion persists following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY recovers above 154.00 despite Israel-Iran escalation
USD/JPY is recovering ground above 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price pares gains below $2,400, geopolitical risks lend support
Gold price is paring gains to trade back below $2,400 early Friday, Iran's downplaying of Israel's attack has paused the Gold price rally but the upside remains supported amid mounting fears over a potential wider Middle East regional conflict.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.