Blackout
There was an almost total loss of electricity in New Orleans when Hurricane Idahit Louisiana with record winds of 150 miles per hour. the storm wavecaused the Mississippi to flow in reverse as large amounts of waterfrom the sea are forced to disembark. Authorities remain confident thatdefenses that were updated after Hurricane Katrina will be maintained. prices ofgasoline in the US increased with the suspension of operations at major refineries,while the price of oil is falling today as platforms in the area seem to haveescaped significant damage
Uncertain
Federal Reserve Chairman Jerome Powell said on Friday that although the bankcan start reducing your monthly bond purchases this year, you won’t be in a hurry toraise rates. Your comments have been made as there are growing signs ofthat the pace of the US recovery is slowing as consumersthey delay spending and companies delay plans to return to normal operations. It isweek, economists will be looking at Friday’s payroll report.fair for a guide on whether there is any slowdown, with first estimatessuggesting 750,000 new posts added in August
Delta
The resilience of the Covid-19 delta variant continues to cause problems around the world.Australia set a new daily record for infections, while New Zealandextended a blockade in Auckland. In the United States, public health advisersare meeting today to discuss booster shots while the White House continuespushing for an implementation on September 20th. In some southern states, thehospitals are low on oxygen as the region struggles with a large number of cases.
Calm markets
Global equities are starting the week quite smoothly after thePowell’s long-awaited speech failed to produce any fireworks. Duringovernight, the MSCI Asia Pacific index added 1.0%, while Japan’s Topix indexclosed 1.1% up, with the rise of technology stocks in the region. In Europe, the IndexStoxx 600 was 0.1% higher at 6:50 am EDT, with low volumes in theregion, as London is closed for a public holiday. S&P 500 futures pointedfor a small gain on opening, the 10-year Treasury yield closed atAsia session by 1.297% and gold fell.
Arriving
Pending US home sales data for July is at 11 am, with the surveyFed manufacturing plant at 11:30 am. President Joe Biden meets with theUkrainian President Volodymyr Zelensky at the White House. Zoom Video CommunicationsInc., Nordson Corp. and Catalent Inc. are among the companies that reported the results
Source:https://wintrademarkets.com/
