Financial markets: focus on PMI surveys and Powell’s speech
On financial markets, all eyes are on September PMI survey data and on the remarks that Fed Chair J. Powell will deliver. Investors are looking for signals regarding the impact of tariffs on prices and demand on one hand, and on the Federal Reserve’s future moves on the other. Equities are still seen trending higher, while bonds show signs of pausing. Gold remains in overbought territory but with a bullish bias. Volatility is stable.
Our intermarket dashboards continue to indicate, on the one hand, a confirmed risk-on environment, and on the other, strengthening of gold (though not reflected in the Dow). Tech stocks are accelerating, another sign of strong risk appetite. Equities continue their upward trend, reaching new one-year (and beyond) highs, while in fixed income the loss of momentum has prices retracing toward the 10-day moving average.
On the macroeconomic front, today brings the flash estimates of the September PMI surveys. Powell’s remarks are also awaited.
Our forward-looking analysis still points to an upward trend for equities, with some overbought signals beginning to appear on U.S. indexes. In fixed income, the picture is more uncertain, with signs of falling yields on government bonds but mixed signals on corporate prices. Gold is flagged as pausing due to overbought levels, but the trend remains upward. The dollar stays weak, volatility stable.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 23 September 2025 - 7:13 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
