Ipek Ozkardeskaya
Swissquote Bank Ltd
The US government didn’t shut down yesterday, as US policymakers agreed on a short-term funding deal that will keep the lights on until November 17th.
Bitcoin rallied and US equity futures gained in Asia hinting at improved appetite after the S&P 500 recorded its 4th straight week of losses last week, and a nearly 5% fall in September. Investors didn’t flock into the US Treasuries following the US no-shutdown news, however.
Elsewhere, the Chinese official PMI rose above the 50 threshold, the Japanese tankan survey showed that confidence among big manufacturers improved for a second month, while inflation in the Eurozone slowed more than expected by analysts.
In the commodity space, gold feels like it's tied to a stone and thrown into the sea, while the crude rally is losing steam above the $90pb. OPEC+ will meet this week. No changes are expected to the outlook policy, the rising demand and falling supply continue to support higher oil prices.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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