10/14 Daily Report
Good morning. Today’s Fear & Greed Index is 63, up 7 points from yesterday’s neutral reading of 56, returning to greed.
Tensions in the Middle East have heated up again: Houthi forces struck an administrative building at Saudi Aramco’s headquarters in Dhahran, sparking a fire. They also threatened further attacks on oil facilities in the Eastern Province and Riyadh. UK-related agencies said that around six ships were attacked in and near the Strait of Hormuz on the same day. Trump said the Houthis may be deliberately driving up oil prices ahead of the midterm elections, though that is his claim. WTI rose around 1% intraday to about $94.68.
On the Fed front, New York Fed President Williams said that if the economy performs as expected, another rate hike this year would be appropriate, but he currently sees no reason to continue raising rates in 2027.
Today’s main focus is the US September CPI release, due at around 20:30 Taipei time. Markets are watching to see whether it will change expectations that the Fed will “hold steady in October.”
Good morning. Today’s Fear & Greed Index is 63, up 7 points from yesterday’s neutral reading of 56, returning to greed.
Tensions in the Middle East have heated up again: Houthi forces struck an administrative building at Saudi Aramco’s headquarters in Dhahran, sparking a fire. They also threatened further attacks on oil facilities in the Eastern Province and Riyadh. UK-related agencies said that around six ships were attacked in and near the Strait of Hormuz on the same day. Trump said the Houthis may be deliberately driving up oil prices ahead of the midterm elections, though that is his claim. WTI rose around 1% intraday to about $94.68.
On the Fed front, New York Fed President Williams said that if the economy performs as expected, another rate hike this year would be appropriate, but he currently sees no reason to continue raising rates in 2027.
Today’s main focus is the US September CPI release, due at around 20:30 Taipei time. Markets are watching to see whether it will change expectations that the Fed will “hold steady in October.”