Oil rises 1.5% after Iran attack, safe-haven assets higher
Crude oil prices rose 1.5% in early Asian trading after the Iranian attack, and rose more than 2% on Tuesday, according to Bloomberg. Meanwhile, Tokyo and Sydney stocks fell, with the S&P 500 sliding 0.9%, and the U.S. benchmark is expected to fall further in early trading.
The U.S. technology sector was the worst performer on Tuesday, as the conflict in the Middle East overshadowed signals from U.S. economic data. The U.S. ISM price index posted its biggest drop since May 2023.
Evercore ISI said the new data could push down 10-year Treasury yields, the dollar and employment services stocks, even if Friday's jobs report is more influential.
U.S. vice presidential candidates JD Vance and Tim Walz will compete for key swing voters in the only debate.
In the currency market, swap traders are betting that the Federal Reserve has a one-in-three chance of cutting interest rates by another half a percentage point in November, but BlackRock CEO Fink believes the forward curve shows too much easing.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US spot Bitcoin ETFs saw a net outflow of $242.51 million yesterday
US spot Ethereum ETF had a net outflow of $48.6 million yesterday
Bitcoin miners earned $815.7 million in September, the lowest since 2024