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S&P 500 futures gap lower as Fitch downgrade their US credit rating

In a surprise move, US ratings agency Fitch downgraded the United States long-term credit rating to AA+, making it the second time in history that the US has lost its triple-A rating. S&P 500 futures gapped lower.

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August 2, 2023 04:17 AM
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Gold rises on US ratings downgrade: Asian Open – 2nd August 2023

The US has lost its triple AAA ratings status according to Fitch Ratings agency, which saw S&P 500 E-mini futures fall around -0.6% at the open and spot gold rise around 0.6% from its cycle lows. We now have a bullish bias for gold over the near-term, although the success of its anticipated move to 1960 likely depends on the performance of the US dollar and how seriously traders take the downgrade to be.

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August 1, 2023 11:56 PM

European Open: Trump announces presidential rerun, NATO in focus

We knew it was coming, but now it is official. Trump will run for the Whitehouse once more. But perhaps more pressing is today’s emergency NATO meeting.

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