Social media down, energy up, USD soft & Bitcoin steady | MarketTalk: What’s up today? | Swissquote

US Treasury Rates Hold Strong as Inflation Report Looms, Dollar Resilience Continues

The social media plunge pulled Nasdaq lower yesterday, as the technology-heavy index slid more than 2%, as the S&P500 lost 0.81%, while the Dow eked out a tiny 0.15%. Fresh earnings from retailers were mixed.

Abercrombie And Best Buy


Abercrombie took a hit after downgrading its sales outlook, leading to a nearly 30% plunge at yesterday’s session, Best Buy cut its guidance, though the new guidance was still better than the Wall Street estimates – which certainly helped saving the day for Best Buy, while Nordstrom rose its full-year forecast, as the company predicted shoppers will continue to shop despite higher prices. Overall, the US equity futures are in the positive again, hinting that we may see another positive attempt, in the middle of a storm.

Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM


Good news is that we see a further easing in the US 10-year yield, hinting that a significant rise above the 3% level is not on the cards for now. But most popular investors don’t smile this days, as they remain very much concerned with the lack of trust that the Fed would bring inflation under control. In FX and commodities, gold extended gains to $1870 per ounce, the dollar index eased below the 102 mark, the EURUSD flirted with 1.0750 and Bitcoin remains curiously steady around the $30K mark. The Reserve Bank of New Zealand (RBNZ) raised its official cash rate to 2% as expected at today’s monetary policy meeting, and released a more hawkish than expected accompanying statement, encouraging a positive move in the kiwi.

Watch the full episode to find out more!

  • 0:00 Intro
  • 0:24 Social media stocks led selloff, retail earnings mixed
  • 2:38 Futures in the green, but investors remain skeptical
  • 5:00 Energy stocks outperform
  • 5:38 Gold extends gains, as dollar softens
  • 6:55 Euro, kiwi gain field on hawkish CB comments/decision
  • 9:02 Bitcoin, curiously steady...

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.

Follow FXMAG.COM on Google News

US Treasury Rates Hold Strong as Inflation Report Looms, Dollar Resilience Continues

Swissquote Bank

– the Swiss leader in online banking
As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. The user-friendly platform also delivers forex, robo-advisory, leasing and mortgage solutions, as well as various online trading services. In addition to a low-cost service for private clients, Swissquote also offers specialized services for independent asset managers and corporate clients. Swissquote Bank AG is subject to the oversight of the Swiss Financial Market Supervisory Authority (FINMA), holds a banking license from the same authority, and is a member of the Swiss Bankers Association. The parent company, Swissquote Group Holding AG, is listed on SIX Swiss Exchange (symbol:SQN).