- Europe to debate more stringent sanctions on Russia
- Traders awaiting comments from Fed members this week
- Oil price volatility expected
Key Events
On Monday, futures on the , , and were marginally higher despite increased worries that the US and may introduce more stringent sanctions on Russia following accusations of war crimes as Russian forces from parts of Ukraine.
The oil price wavered on a surprise 2-month in the Yemen war.
Global Financial Affairs
US futures turned lower in the final hour of the Asian session and this slide increased in velocity with the European open but they recovered and are trading in positive territory
In Europe, the Index followed a similar pattern, opened up, stumbled lower and then recovered. Healthcare stocks led the gainers as Roche Holding (SIX:) jumped over 2% to test its Nov. 4 record. Demand surged after the US Food and Drug Administration granted a priority review to the Swiss drugmaker's coronavirus drug, Actemra/RoActemra.
Asian shares continued to rally after Friday's rebound on Wall Street. Australia's and South Korea's outperformed, rising 0.3% and 0.7% respectively. China's market was closed due to a holiday.
At the end of trading on Friday, US stocks bounced off Friday lows as Treasuries were sold off. The US supported the argument for by the US Federal Reserve in order to manage spiralling . Traders will be closely watching comments from a number of members of the Federal Reserve this week including Minneapolis Fed President , New York Fed President , Fed Governor , and St. Louis Fed President .
The outperformed even though small firms find it more difficult to compete with the growth rate of large multinationals which have more resources to navigate rising US interest rates.
Yields on the Treasury note rebounded from an initial dip on the prospect of Fed .
10-year Treasuries Daily
Yields are trading along with a falling flag, bullish after the preceding sharp rise.
The extended its gain for the third day.
The pattern is extending its range following an H&S continuation pattern. An upside breakout of the Rectangle would confirm the underlying rising trend.
was slightly higher despite a strengthening dollar.
From a technical perspective, the yellow metal may be solidifying an H&S top.
edged lower within a congested trade.
The cryptocurrency has been stuck, having reached a crossroad of buyers and sellers. Bulls have been attempting to create a bottom that faces a much larger H&S top.
was volatile and marginally higher, as traders try to decide the effect of multiple conflicting forces—concerns around falling demand from China, the world's largest importer, due to ongoing coronavirus lockdowns, as well moves by the US and UK to tap into emergency oil reserves and increase supplies are both impacting the price.
The price continued to trade along with a symmetrical triangle.
Up Ahead
- On Tuesday, the rate decision.
- US data is published on Tuesday.
- On Wednesday, the US Federal Reserve releases the from its last meeting.
Market Moves
Stocks
- The STOXX 600 was little changed
- Futures on the S&P 500 fell 0.1%
- Futures on the NASDAQ 100 fell 0.1%
- Futures on the Dow Jones Industrial Average fell 0.1%
- The MSCI Asia Pacific Index rose 0.8%
- The MSCI Emerging Markets Index rose 1%
Currencies
- The Bloomberg Dollar Spot Index was little changed
- The was little changed at $1.1035
- The was up 0.2% at 122.69 per dollar
- The was up 0.2% at 6.3756 per dollar
- The fell 0.1% to $1.3103
Bonds
- The yield on 10-year Treasuries advanced one basis point to 2.39%
- Germany's yield declined one basis point to 0.55%
- Britain's yield fell one basis point to 1.60%
Commodities
- rose 0.18% to $104.58 a barrel
- rose 0.2% to $1,928.95 an ounce
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