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Alpha Trade Market Early News


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Good morning: The main overnight news was that the ISM manufacturing data was lower than expected, showing weak inflation and employment indicators.

The ISM data was 46.3, lower than the expected 47.5, and the US dollar fell.

US Treasury yields fell sharply, and the US dollar index fell below 102.00 at one point. The Dow closed up 0.98%, and the Nasdaq fell 0.25%.

The situation in the US stock market is unclear, and the tone of the subsequent Asia-Pacific market is positive, but technology stocks are slightly lagging behind.

The Reserve Bank of Australia kept the interest rate unchanged at 3.6%, as expected, and the minutes showed a mild hawkish tendency, and there is still a possibility of "further tightening".

The US dollar index returned to above 102.00, the euro was blocked at the resistance level of 1.09 against the US dollar, the pound left the recent high, and the yen recovered after being under great pressure.

The Australian dollar was slightly under pressure as the Reserve Bank of Australia pressed the pause button for the first time after 10 rate hikes, but as mentioned earlier, there are rumors that further monetary tightening will be needed in the future, so the downside is limited.

In the European market, stocks are slightly higher as OPEC unexpectedly announced production cuts earlier this week, and oil prices are also worth watching.

Regarding the data released today, the monthly rate of factory orders in the United States and the number of JOLTS job openings.

Some central bank speakers will release news later, including Pill from the Bank of England and Cook from the Federal Reserve.

Recent data shows that US Treasury yields are falling and the US dollar is generally weaker against other currencies. The weak tone is expected to continue in the next day. The euro is expanding its gains and is close to the recent double top in the 1.0925 area. The upward breakthrough and potential closing higher indicate a target level of 1.10.

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