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1 Aug《International Market Focus》Federal Reserve Chairman’s comments hit, US stocks fell

US: The Fed, as the market expects to announce the first interest rate cut in 10 years at this month´s interest rate meeting, however, Chairman Bower denied that the interest rate cut was the beginning of a long-term interest rate cut, triggering a sharp fall in US stocks. The US stock market Dow Jones index fell 333.75 points, or 1.23%, to close at 26,864.27 points. The Nasdaq index fell 98.19 points, or 1.19%, to close at 8,175.42 points. The S&P 500 index fell 32.80 points, or 1.09%, to close at 2,980.38 points.

 

US: Following the US sanctions against Iran´s supreme spiritual leader Ayatollah Ali Khamenei at the end of June, US Treasury Secretary Steven Mnuchin said he would impose sanctions on Iranian Foreign Minister Mohammad Javad Zarif.

 

Brazil: Brazil´s central bank monetary policy committee meeting, considering the weak economic outlook, the uncertainty of pension reform is still in place, the committee unanimously decided to cut the overnight interest rate (Selic Rate) by two yards to 6%, exceeding the market expectation of 1 yardage, this It is the first rate cut since March 2018.

 

Europe: European stock markets closed higher on Wednesday, with investors waiting for the US Fed to announce interest rate resolutions. The pan-European Stoxx 600 index rose 0.66 points, or 0.17%, to close at 385.77 points.

 

Southeast Asia: The market is waiting for the Fed meeting, the Southeast Asian stock market is intricate, the Vietnamese stock market rose 0.57%, and the Singapore stock market fell 1.45%.

 

Commodities: US crude oil inventories fell for the seventh consecutive week, the longest consecutive decline in a year and a half. After the Fed issued a resolution to cut interest rates in the afternoon, crude oil prices also rose. Brent crude oil futures for September delivery rose 45 cents, or 0.7%, to close at $65.17 a barrel, down about 2.1% in July. .

 

Commodity: After the Fed decided to cut interest rates by one yard, gold fell by $4, or 0.3%, to close at $1,437.80 per ounce.

 

Currency: Federal Reserve Chairman Bauer’s remarks after the meeting were “very neutral”, suggesting that it is not opening the door to long-term interest rate cuts. After the US dollar index heard the news, the response rose by more than 60 points, rising 0.5% to 98.56, hitting a two-year high.

 

Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources believed to be reliable. However, we do not verify such information. We do not guarantee its accuracy or completeness, nor do we take responsibility for any loss occasioned by reliance placed upon the contents hereof. Any statements nonfactual in nature constitute only current opinions, which are subject to change.  PC Securities Ltd (or one of its affiliates) or their officers, directors, analysts, or employees may have positions in securities or commodities referred to herein, and may, as principal or agent, buy and sell such securities or commodities.  Neither the information nor opinion expressed in this report shall constitute a solicitation to buy or sell any securities.

 

2019-08-01   Back