Issue link: https://maltatoday.uberflip.com/i/1509516
SYMBOL LAST CHANGE % HIGH LOW DOW JONES – US 33,561.80 -56.88 -0.17% 33,656.40 33,509.70 NASDAQ – US 12,179.50 +0.00 +0.00% 12,216.10 12,174.10 S&P 500 – US 4,119.17 -18.95 -0.46% 4,130.35 4,116.65 RUSSELL 2000 – US 1,749.68 -4.79 -0.27% 1,756.09 1,737.70 S&P TSX – CANADA 20,585.70 +0.58 +0.00% 20,599.00 20,455.50 IPC – MEXICO 55,452.70 +419.61 +0.76% 55,497.80 54,899.40 FTSE – UK 7,750.80 -13.29 -0.17% 7,778.98 7,750.37 CAC 40 – FRANCE 7,373.77 -23.40 -0.32% 7,416.32 7,373.20 DAX 40 – GERMANY 15,886.20 -69.32 -0.43% 15,980.80 15,884.00 FTSE MIB – ITALY 27,325.70 -57.80 -0.21% 27,476.40 27,324.70 MICEX – RUSSIA 2,524.31 -3.28 -0.13% 2,535.03 2,483.79 NIKKEI 225 – JAPAN 29,122.20 -120.64 -0.41% 29,195.20 29,070.10 SHANGHAI COMPOSITE – CHINA 3,319.15 -38.52 -1.15% 3,349.72 3,305.25 HANG SENG – HONG KONG 19,776.90 -90.64 -0.46% 19,880.00 19,696.60 NIFTY 50 – INDIA 18,249.10 -16.90 -0.09% 18,323.20 18,211.90 KOSPI – KOREA 2,496.51 -13.55 -0.54% 2,510.13 2,488.42 12.10.2023 7 MARKETS International Markets Global Indices Trading Date: 11 October 2023 FTSE 100 Daily Price Chart DAX 40 Daily Price Chart THE Euro (EUR) has made modest gains against the US Dollar (USD) and the Pound Sterling (GBP). However, the rallies were not driven by positives for the Euro. Rather, both the GBP and USD have shown relative weakness. EURUSD may fade again, and EURGBP has key resist- ance around 0.87. Tuesday's session started strong in Asia as the Nikkei in Japan closed over 2% higher. e FTSE and Dax contin- ued the gains and are around 1.5% higher ahead of the US open as global stock indices play catch up with Monday's rally in the US. Currencies, meanwhile, are mostly flat with EURUSD and GBPUSD gaining just 0.06%. AUDUSD and NZDUSD are weaker with drops of around 0.25% but have not made any decisive moves this week. Worth noting is that both EURUSD and GBPUSD made new October highs above the highs of last week before fading again. is is now the largest bounce since August and while both are far from a conclusive recovery, there are signs of developing reversals. Recent gains in dollar pairs have been mostly driven by USD weakness, which is perhaps surprising given the backdrop of the Israel conflict and the super-strong NFP release last week. However, recent Fed communication has been on the dovish side and Monday's comments from Dallas Fed President Lorie Logan contained a key phrase: "Higher term premiums result in higher term interest rates for the same setting of the fed funds rate, all else equal. us, if term premiums rise, they could do some of the work of cooling the economy for us, leaving less need for additional monetary policy tightening." Any mention of "less need for additional monetary pol- icy tightening" from a FOMC member is bound to get the market's attention, although the odds for a November hike have not shifted and remain at 84%. Even so, there is still plenty time before the blackout pe- riod ahead of 1 November meeting, so the market will be watching closely in case this message is echoed by other members. If the Fed is gearing up for a pause, it will want the mar- ket to be more prepared than it is currently. EURUSD has made steady gains since last week's bottom and could rally further should ursday's CPI data out of the US come out soft. However, it may struggle to build a full recovery unless data improves. Euro gains against the US dollar and pound sterling but remains on shaky fundamentals