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Overnight, the Reserve Bank of Australia stunned the world with the announcement of a surprise 0.25% interest rate increase to 3.85%, resuming tightening after being on hold for its last two meetings. On this news, the Australian Dollar rallied 0.9%
Coming off a flat to down Monday that saw the Dow, S&P 500 and NASDAQ all finish between -0.1% and +0.1%, the S&P/TSX Composite lose 0.3% and the Russell 2000 drop 1.5% to indicate weakness in small caps, US index
After US indices finished flat to down 1.0% yesterday, US indices have stabilized this morning trading between a decline of 0.1% for Dow Futures and a gain of 0.3% for NASDAQ futures. Market action is mixed in Europe as well
Building on Monday’s relief rally in North America that saw the three main US indices plus the S&P/TSX jump 2.2%-2.4%, overseas markets have been soaring overnight. Asia Pacific trading saw Sydney soar 3.75% and Tokyo climb 3.0%. European trading finds
Monday’s small stock market gains quickly evaporated overnight. Signs that central banks remain under pressure to tighten faster and do more about inflation as the US 10-year treasury note yield climbed back up above 3.00% and the Reserve Bank of
Yesterday’s US stock market rebound which saw the three main indices claw back morning losses to finish with gains varying between 0.25% for the Dow and 1.6% for the NASDAQ, appears to have been a dead cat bounce. This morning
US index futures have started May just as they ended April, stuck in reverse gear. US index futures are in the red, falling 0.1% to 0.5% with NASDAQ futures leading the way lower just as the NASDAQ did on Friday
Continuing a trend of recent hawkish moves by central banks in Canada and New Zealand, the Reserve Bank of Australia announced overnight that it is ending its yield curve control program, which previously had frozen 0-3 year rates at 0.10%,
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