Gold, oil come off boil as Middle East risks, US rates in focus
Updates prices at 1055 GMT
By Iain Withers
LONDON, Aug 27 (Reuters) -Gold prices were just shy of a record peak and oil prices levelled off on Tuesday after a surge over the past week, as investors sought safety amid geopolitical risks and looked ahead to Nvidia earnings and U.S. inflation data later this week.
European stocks were broadly flat .STOXX, following a late rally in Japan's Nikkei index. Global stock indexes were little changed overall, with forecast-beating profit from the world's biggest listed miner BHP BHP.AX helping to prop up sentiment.
U.S. S&P 500 ESc1 and Nasdaq NQcv1 futures were both flat.
Gold XAU= hovered above $2,500 per ounce on expectations of imminent U.S. rate cuts and lingering concerns about the Middle East conflict, exacerbated by a major missile exchange between Israel and Hezbollah on Sunday.
Middle East tensions - along with concerns about a potential shutdown of Libyan oil fields - had led to a surge in oil prices of more than 7% over the previous three sessions. However, that rally lost steam on Tuesday, with a slight dip in prices. O/R
Expectations for faster interest rate cuts in the United States have been a key driver of market moves, after Federal Reserve chair Jerome Powell said on Friday the central bank was ready to start cutting rates.
"It would be a real shock not to get a (Fed) rate cut in September," said Guy Miller, chief market strategist at Zurich Insurance Group, adding an initial 25 basis point cut was most likely.
"It was also interesting that he didn't really push against the market expectations of 100 plus basis points of rate cuts between now and year-end," Miller added.
The dollar index was just off a one-year low at 100.83 =USD, while the euro and pound nudged towards multi-month highs versus the greenback. FRX/
A key measure of U.S. inflation due on Friday could further influence market perceptions of how quickly the Fed will act.
Investors were also on edge ahead of Nvidia's NVDA.O earnings report on Wednesday, where anything short of a stellar forecast from the chipmaker could jolt investor confidence in the AI-fuelled rally.
"I think Nvidia will take more importance" than the inflation data, said Michaël Nizard, head of multi-asset at investor Edmond de Rothschild.
"We know that the pace of inflation is going well. We don't know what could be the guidance for this big, big actor in artificial intelligence. This could be a bump for the market."
MSCI's all-country index of stocks <.MIWD00000PUS > was broadly unchanged on the day at 829.75.
Also keeping sentiment in check was the move by Canada, following the lead of the United States and European Union, to impose a 100% tariff on imports of Chinese electric vehicles and a 25% tariff on imported steel and aluminium from China.
Oil prices took a breather, with Brent crude futures LCOc1 0.6% lower at $80.95 a barrel, while U.S. crude futures CLc1 eased 0.7% to $76.89 a barrel.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Iain Withers in London, Additional reporting by Dhara Ranasinghe in London and Ankur Banerjee in Singapore; Editing by Christina Fincher and Mark Potter
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.