Market Updates at a Glance 02/8/22 (Tuesday)

➤US stocks were muted on Monday following the best month for the major averages. Markets sentiment turning cautious on economic slowdown fears with risk-negative headlines surrounding China. US House Speaker Pelosi is expected to visit Taiwan today, despite warnings from China. Dow -0.14%, S&P -0.28% & Nasdaq -0.18%.

➤The US dollar index continued its decline for the fourth day in a row with DXY down 0.4% to 105.43. Treasury yields were lower across the board with the 10-year treasury yield falling toward 2.57%, the lowest since April. 

➤EUR & GBP ended higher. GBP extended the gains to 1.2254 (+0.58%), more than 4% higher since the July low. While EUR edged higher by 0.33% to 1.026 against the USD. German retail sales fell by 8.8% in June, the weakest number since 1950.
The Bank of England (BoE) is expected to raise its interest rate by 50bps on Thursday.

➤Oil (Brent) dipped below $100/barrel, down 3.8% to $99.88, after Chinese manufacturing PMI data came in at 49.0 instead of 50.3 anticipated and a prior read of 50.2.

➤Gold extended the rally to $1772 (+0.34%) as market is expecting FED turned less aggressive on the future rate hike path.

➤BTC was slightly lower, near $23,200. ETH eased to $1631. XRP was flat at $0.37.


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