Market News 14/9
💵 The US dollar index rose by 1.5% on Tuesday as US CPI came above forecast and showed that inflation in America is still raging. This, in turn, means that the Fed will have to continue aggressive rate hikes. Nomura now expects the Federal Reserve to raise the interest rate by 1 percentage point in September.
💹 USDPY tested the high at 145.00 earlier today but then turned to 143.60 as traders discussed a potential currency intervention to drive the yen higher and USDJPY lower.
📉 US500 (S&P 500) dropped more than 4% yesterday. Analysts at Bridgewater think US stocks won’t return to pre-pandemic highs as investors face the prospect of a massive market crash and a serious recession.
⬇ The stock of Nvidia lost 9.5% as high CPI release hit technological companies got hit especially hard.
🛢 JPMorgan Chase & Co. oil prices will rise to $150 a barrel at some point as demand outpaces supply and alternative energy sources such as natural gas and renewables fail to plug the gap.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.