Global Markets: Positive signals are being received from the global market. Nifty is trading around 40 points up. There is a mixed trend in Asia. Here, in anticipation of a rate cut, the US markets jumped up to 1 percent yesterday. The S&P 500 index and NASDAQ saw a rise for the fourth consecutive day. The European Central Bank has cut interest rates by 0.25% for the second time this year. Meanwhile, the sheen of gold has increased with the expectation of Fed also reducing interest rates next week after ECB. Gold has reached a new peak with a rise of around 2%. Gold has crossed 2560 dollars on COMEX. Crude has also jumped by 2%.
People in the market have increased their hopes of reduction in rates in America. The US Fed will take a decision on interest rates on 18 September. 35% people in the market expect a 0.50% reduction in rates. The ECB has reduced interest rates by 0.25%. Meanwhile, if we look at the US bond yield, the 30-year yield is at 3.97 percent while the 10-year bond yield is at 3.65 percent, and the 5-year yield has come down to 3.43 percent.
Sleeping on the 7th heaven
The price of gold has reached a record high in the international market. The spot price in the US has crossed $2560. The December futures on COMEX have crossed $2590. The market has increased the expectation of a reduction in rates in the US. The US Fed will take a decision on interest rates on September 18.
recovery in crude
Crude oil has risen 2.50 percent in one day while Brent prices have crossed $72. WTI is trading above $69. Prices have risen due to the impact of Hurricane Francine. Hurricane Francine has reached the Gulf of Mexico. Production has declined due to the hurricane.
Asian Markets
Meanwhile, mixed trading is being seen in the Asian markets today. GIFT NIFTY is showing a gain of 38.00 points. At the same time, Nikkei is seen at 36,560.55 with a decline of about 0.74 percent. At the same time, Strait Times is showing a weakness of 0.20 percent. Taiwan market is trading at 21,690.25, up 0.17 percent. While Hang Seng is seen at 17,501.28 with a gain of 1.51 percent. At the same time, KOSPI is trading with a decline of 0.12 percent. At the same time, Shanghai Composite is seen at 2,727.01 with a gain of 0.36 percent.