Market Information Wednesday 18 September 2024

Despite better-than-expected macroeconomic data, such as this afternoon’s U.S. retail sales, financial markets continue to speculate on a 50 basis point rate cut by the Federal Reserve on Wednesday evening.

Asian markets posted predominantly lower prices on Wednesday morning in anticipation of the Federal Reserve’s rate decision. The Nikkei index fell 0.2 percent to 36,130.39 points, while the SSE Composite Index lost 0.5 percent. Markets in Hong Kong and South Korea were closed due to a holiday.

Gold remains at its highest level ever, with technical indicators pointing to further growth. As the market increasingly anticipates a loosening of central bank policies, the outlook for gold appears favorable. Investors have already heavily anticipated lower interest rates. Since the beginning of the year, the price of gold has risen by over 25%, and since early October, it has surged by more than 42%.

The 6M Euribor decreased with 4 basis points to 3.31% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.40% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.