- US stock indices and many Asian stock indices rose today. The markets are awaiting the release of the US private-sector jobs data for fresh market impetus, especially after the ISM index of the manufacturing sector came lower than expected at 57.6 from the previous 58.7 points, showing the continued growth of the sector.
- The US dollar continued its decline against a basket of currencies, with the US 10-year bond yields stable in the range of 1.7%-1.8%. Gold prices fell despite the dollar’s decline today, trading below 1800 dollars an ounce during the Asian session after touching the highs of $1808 yesterday.
- Oil prices witnessed significant fluctuations yesterday. West Texas Intermediate crude contracts prices fell towards the range of 86 dollars a barrel before consolidating back at the end of the session towards 88 dollars. Today, energy markets are awaiting a decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) regarding production.
Economic and fundamental developments 02-02-2022
2 Feb 2022 10:23 AM
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