Daily Market Updates – August 12

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

12 August 2026 – Daily Market Updates Morning Markets Briefing: CPI in Focus, Tech Strength, Oil Risk, and a Weak Yen Through a Consumer Lens At a glance Global equities edge higher ahead of a key US inflation release; rate-sensitive assets tread carefully. Treasury yields are broadly steady, the dollar is firm, and the yen remains under pressure. Oil holds in a higher range as supply concerns offset mixed demand signals. AI infrastructure and cloud-related names extend gains on upbeat outlooks; select European financials firm on results. Macro backdrop: A pivotal inflation check All eyes are on today’s US consumer inflation report. With policy makers signaling a data-dependent approach, this print will heavily influence near-term interest-rate expectations. Markets appear finely balanced: a stronger reading could lift the path of policy rates and the dollar while weighing on duration and parts of equity markets that are sensitive to higher yields. A softer outcome would do the opposite, easing pressure on bond markets and supporting growth-oriented stocks. Why it matters now Rates path: Incoming price data will shape the debate on whether the next move is a further tightening or a longer hold. The bar for surprise is high, so the reaction may be outsized if the numbers deviate meaningfully. Market positioning: Systematic and macro funds have leaned into rate trends this year; that concentration can amplify moves if bonds rally or sell off abruptly. Cross-asset knock-on: A hotter print typically favors the dollar and weighs on metals and some emerging assets; a cooler report tends to lift long-duration equities and credit. Equities: Tech leadership persists Technology remains the market’s pace-setter, particularly companies tied to AI infrastructure—compute, networking, and advanced servers. Strong updates from parts of this ecosystem have buoyed sentiment across semis, hardware, and select software names. In Europe, some banks are firmer following better-than-expected earnings and guidance. Travel and leisure are mixed, with investors parsing demand resilience against cost pressures. Credit: Big-ticket financing meets big compute The buildout of AI capacity continues to drive substantial funding needs across the sector. Large revolving facilities and term financings underscore a shift in corporate balance sheets toward securing liquidity for capex-intensive projects. For credit markets, that means: Supply: Healthy new issue calendars, especially in high-grade corporates tied to technology and infrastructure. Pricing: Spreads remain anchored by robust demand, but issuer differentiation is rising as leverage and investment cycles lengthen. Banks: Top-tier lenders are deepening exposure to digital infrastructure, a theme to monitor for concentration risk and capital allocation. Elevate Your Institutional Strategy Discover secure and advanced global trading solutions tailored for funds and family offices. Explore Institutional Services Rates and FX: Dollar firm, yen still soft US yields are broadly rangebound into the data. The dollar index is stable to slightly higher. The yen remains weak compared with long-run measures of purchasing power. A simple way to think about it: everyday prices—meals, services, and travel—often look inexpensive to overseas visitors, a sign the currency buys less at home than it once did relative to peers. What could change the narrative? Policy convergence: Any shift by Japan’s central bank toward tighter settings, or clearer progress on domestic wage growth, could support the currency. Intervention risk: Authorities remain sensitive to disorderly moves. Global rates: A sustained decline in US yields would take some pressure off the yen. Commodities: Oil’s risk premium lingers Crude trades in an elevated band as supply risks—heightened by geopolitical flashpoints and signs of tighter balances—compete with uneven demand indicators. For now, inventories and refined product cracks suggest a market that’s tight but not overheating. Gold is steady, reflecting a tug-of-war between real yields and haven demand. Asia and Europe: A constructive tone Asian equities gained, led by markets levered to technology supply chains. European indices are modestly higher, with defensives steady and cyclicals mixed. The day ahead Data: US consumer inflation takes center stage; secondary releases include real-time labor and housing indicators later this week. Policy: Central bank speakers may frame the inflation print within their reaction functions. Earnings: Another wave from tech hardware, software, and select consumer names; airlines and transportation are also in focus. What we’re watching Inflation breadth: Goods vs. services, shelter momentum, and any reacceleration in “sticky” categories. Bond market tone: Depth of the move in 2s/10s, breakevens, and any sign of a positioning unwind. Tech follow-through: Whether positive AI narratives broaden beyond early leaders. Energy supply headlines: Any disruptions around key shipping lanes or producer guidance that could shift balances. Risk reminder Major data days can produce sharp, short-lived swings across asset classes. Consider using predefined ranges, diversified hedges, and disciplined orders around event risk. This commentary is provided for information purposes only and does not constitute investment advice or a recommendation to buy or sell any security or to adopt any investment strategy. Markets are volatile and past performance is not indicative of future results. Trade Global Futures & Indices Access world-class liquidity and institutional-grade tools to trade the world’s most popular index futures. Contact Our Desk Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. 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Daily Market Updates – August 11

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

11 August 2026 – Daily Market Updates Daily Market Brief: Europe’s Momentum, Oil’s Rebound, and a Watchful Eye on the Yen Overview Global markets are treading carefully as investors balance firming growth signals against a fresh uptick in energy prices and the next round of inflation data. US equity futures were broadly flat in early trade, European benchmarks were little changed after a strong run this year, and Asia was mixed with mainland China softer. Oil advanced, government bond yields nudged higher, and the dollar was steady with notable volatility in the yen. Key takeaways Equities: US futures were near unchanged; tech-tilted contracts edged up. European stocks were marginally lower after an impressive year-to-date performance. China’s large-cap index slipped. Rates: Core sovereign yields ticked up, reflecting firmer oil and pre-CPI positioning. Commodities: Crude pushed higher, reawakening inflation vigilance across asset classes. FX: The yen’s bounce faded as yield differentials reasserted themselves; broader G10 moves were contained. Europe’s appeal is broadening Europe continues to check important boxes for global allocators: Earnings and economic rhythm: Corporate profit growth has picked up and leading indicators suggest activity is stabilizing without overheating. This combination supports margins while limiting pressure for additional policy tightening. Policy backdrop: Headline inflation progress and a cooling core pulse give the region’s central bank room to stay patient. That “not too hot, not too cold” mix has underpinned risk appetite. Relative value: Compared with the US, multiple dispersion remains wide and rate-policy uncertainty is perceived to be lower. That has drawn interest into cyclicals, select financials, and quality industrials. Flows and breadth: Leadership has broadened beyond a handful of mega caps, with constructive participation across countries and sectors—often a healthier sign for durability of returns. What could extend the run Continued disinflation alongside steady real growth Ongoing fiscal support for infrastructure and energy transition Disciplined capital allocation from corporates and resilient dividend policies What could interrupt it A sharp energy-price spike feeding back into inflation Weaker global trade or renewed manufacturing softness A faster-than-expected pivot in global rate differentials Yen watch: Narrative vs. fundamentals Authorities signaled a willingness to lean against excessive yen weakness, including through coordinated action. Still, currency trends are ultimately anchored by interest-rate gaps and relative growth. Intervention can temper speed and disorderly moves, but a lasting turn usually requires a shift in fundamentals—either narrower yield spreads, changing inflation dynamics, or altered capital flows. For investors: Expect episodic volatility and brief squeezes when policy steps hit thin liquidity. Hedging policies matter; revisit currency overlays for Asia exposures. Exporters and carry strategies remain sensitive to abrupt bouts of yen strength. US: Oil, bonds, and the next inflation print A brisk advance in crude has perked up inflation expectations and nudged Treasury yields higher into the latest consumer price report. Equities were mostly rangebound, reflecting a tug-of-war between robust balance sheets/AI-driven capex on one side and the cost of capital/inflation uncertainty on the other. Within credit, spreads remain orderly, but primary issuance windows can open and shut quickly around data events. AI and capex: Scale keeps building Capital formation supporting advanced computing and data infrastructure continues to accelerate—from chipmakers and equipment suppliers to power, cooling, and data-center real estate. The takeaway for portfolios: Cyclical amplitude is increasing; project timelines and financing terms are key drivers of equity beta. Second-derivative beneficiaries (utilities, grid upgrades, specialty materials) are increasingly relevant alongside headline tech names. Watch execution risk and dilution considerations around large equity or hybrid financings. Commodities and energy Oil: Supply considerations and geopolitics have tightened near-term balances. Higher crude can lift parts of energy and industrials while pressuring rate-sensitive growth pockets. Gas and power: Data-center buildouts are a growing variable in regional power markets, with implications for utilities’ capex and pricing structures. Emerging markets: Valuation advantage endures Emerging-market equities continue to trade at a sizable discount to developed peers. For long-horizon investors, that spread can be attractive, but index-level dispersion is high. Focus on: External balances and FX regimes Domestic policy credibility and reform cadence Earnings quality and shareholder returns What to watch next US inflation data and implications for the front end of the curve Central bank remarks in Europe and the US on the growth/inflation mix Energy market updates and inventory trends Corporate guidance across tech infrastructure, consumer demand, and healthcare services Portfolio thoughts Regional allocation: A modest tilt toward Europe can be justified by improving profit trends and policy visibility, balanced by US exposure to innovation-led growth. Duration and credit: Maintain flexibility; tactically extend duration on rate spikes while staying selective in credit, favoring resilient balance sheets. Real assets: Retain some energy and infrastructure exposure as a hedge against inflation volatility and to participate in capex cycles. Currency management: Consider dynamic hedging around JPY-sensitive holdings and maintain diversification across funding currencies. Risk controls: Position sizes, options overlays, and liquidity buffers remain essential given event risk and headline sensitivity. Explore Global Trading Opportunities Access a wide range of global futures and options markets with institutional-grade trading tools, market access, and professional support. Learn More Risks to the outlook Geopolitical flare-ups affecting energy and shipping lanes Upside surprises in services inflation Policy missteps or an abrupt tightening in financial conditions Market structure fragilities in crowded or leveraged strategies Bottom line Markets are navigating a narrow path: solid growth pockets and an expanding European opportunity set on one side, and energy-driven inflation jitters with FX crosscurrents on the other. Discipline around data, diversification, and risk budgeting remains the best compass. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not

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Daily Market Updates – August 10

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

10 August 2026 – Daily Market Updates Daily Market Brief: Gold Glitters, Equities Steady, Eyes on Inflation Market at a glance US equity futures: fractionally higher as investors await key inflation data Europe: broadly flat, with cyclicals mixed and defensives supported Asia: strong session led by Japan; tech hardware outperformed Rates: US Treasury yields little changed after last week’s pullback Commodities: oil firmer; gold consolidating after a powerful weekly advance FX: US dollar steady; yen underperforms G-10 peers; select EM Asia currencies remain supported by policy measures Top themes Gold’s momentum returns A renewed wave of institutional demand has breathed life back into precious metals. Exchange-traded products have shifted back to net inflows while official-sector purchases remain a steady tailwind. A softer growth pulse and ebbing odds of near-term rate hikes have eased real-yield headwinds, allowing bullion to regain its role as a portfolio hedge against fiscal strains, leverage in the financial system, and geopolitical uncertainties. Gold miners, a high-beta expression of the theme, have tracked the upswing, though volatility remains elevated and sensitivity to real-rate moves is high. AI capex still setting the tone Corporate spending tied to artificial intelligence infrastructure continues to underpin earnings in semiconductors, equipment, and cloud-related ecosystems. Recent sales updates from leading chip manufacturers and foundries signal resilient demand across training and inference buildouts. That narrative, coupled with ongoing cost discipline in mega-cap tech, has kept major indices hovering near records even as economic data have turned more mixed. Inflation in focus The week’s marquee macro release is US consumer inflation. Markets expect only a modest monthly rise after last month’s cooling, reinforcing the view that policy rates are near or at their peak. Any surprise on shelter or core services could quickly reprice front-end rates and growth-sensitive equities. Beyond the headline print, watch measures of underlying momentum and breadth of disinflation. Geopolitics and energy Crude prices are supported by supply discipline and persistent geopolitical risk around key shipping lanes. While some tensions have eased at the margin, risk premia remain embedded. Higher energy input costs would complicate the disinflation path, particularly for transport and goods-sensitive sectors. Currency dynamics The yen has lagged as the impact of earlier intervention faded and rate differentials persisted. In emerging Asia, authorities are increasingly relying on a mix of liquidity tools and macroprudential measures to stabilize FX without eroding reserves, helping temper volatility even as the US dollar trades firm. Equities US: Futures imply a quiet open with leadership still concentrated in tech and communication services. Earnings quality and free-cash-flow resilience remain key support pillars as the cycle matures. Europe: Indices are treading water; exporters are sensitive to dollar strength, while domestic defensives benefit from stable yields. Asia: Japan led gains on tech hardware strength and supportive corporate actions. Mainland China and Taiwan sentiment improved on continued AI-related demand, even as broader property and consumer signals remain uneven. Trade Global Futures & Options Access CME, ICE, and other global exchanges from a single account in Dubai. Explore Futures & Options Fixed income Treasuries are rangebound ahead of CPI. The market is balancing softer labor readings against sticky components of core inflation. A benign print likely bull-steepens curves; a hot surprise risks bear-flattening via front-end repricing. Credit spreads are stable, with higher-quality segments still favored amid rich valuations. Commodities Gold: Consolidating after a strong weekly rally as ETF inflows reappear and central-bank demand persists. Key drivers to watch: real yields, USD trend, and positioning. Oil: Firm on supply discipline and geopolitical undercurrents. Refining margins and inventory data will shape near-term direction. Industrial metals: Mixed, tracking China growth signals and global capex trends. FX USD: Firm but off peaks; sensitive to CPI surprise and rate-path implications. JPY: Underperforms; sustained support likely requires either softer US yields or stronger domestic policy signals. EM Asia: Tactically supported by policy backstops; idiosyncratic stories continue to drive dispersion. Corporate highlights to watch Semiconductors and equipment: Updates on AI capacity, supply constraints, and lead times. Networks and hardware: Orders tied to data center and edge buildouts. Consumer and healthcare: Guidance sensitivity to wage trends and promotional intensity. Natural resources: Cost inflation, capital discipline, and shareholder return frameworks in focus. The week ahead: key catalysts US inflation data: Headline, core, and shelter dynamics; implications for real yields and risk assets. Global earnings: Semis, hardware, software, luxury/retail, and healthcare names provide read-throughs on AI demand, enterprise budgets, and consumer health. Policy and geopolitics: Any developments around energy supply routes and defense procurement could sway commodities and cyclicals. FX stability measures: Emerging-Asia policy signaling on currency management. Portfolio considerations Multi-asset: Maintain balance between growth exposures benefiting from AI capex and quality defensives supported by stable yields. Rates: Duration neutrality or a mild long bias may help if disinflation persists; keep optionality around front-end moves into CPI. Equities: Favor cash-generative leaders; use pullbacks to add selectively in semis and infrastructure enablers while respecting valuation risk. Commodities: Gold remains a potential hedge against policy and geopolitical uncertainty; position sizing should reflect volatility and correlation regimes. Risk management: Event risk is elevated into data; consider staggered entries and defined-risk structures. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a

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Weekly Global Market News-August-Week 2

Market Updates, Weekly Global Market Update / PhillipCapital DIFC Research Team

Weekly Global Market News – August, Week 2 The Week Ahead: Markets, Policy, and Earnings (Aug 10–16, 2026) A mid‑August stretch that’s typically quiet is shaping up to be anything but. Alongside a dense macro calendar and another wave of corporate results, investors will also be navigating an unusual set of real‑world catalysts: a UK by‑election that’s drawn outsized attention and a rare total solar eclipse crossing parts of Europe with implications for travel, tourism, and electricity markets. What matters for portfolios this week UK politics and market tone: A by‑election in Clacton on Thursday has become a focal point after the constituency’s MP resigned. Polling suggests the Reform UK leader is favoured to retain the seat, while a satirical candidate has polled surprisingly strongly. Markets rarely reprice on by‑elections alone, but sterling, UK small/mid caps and domestic rate expectations could be marginally sensitive if the result hints at broader voter shifts or if a subsequent standards ruling sparks another contest. Inflation checkpoint: US CPI (Wed) and PPI (Thu) headline the global data slate. With US growth resilient and core disinflation uneven, any upside surprise could nudge Treasury yields higher, support the dollar and weigh on duration‑heavy equities. Germany (Wed) and France (Fri) publish CPI updates, while the euro area releases flash Q2 GDP (Fri). UK growth pulse: The first estimate of UK Q2 GDP (Thu) will show whether the recent pickup in activity has legs. A firmer print would likely support gilts at the short end (hawkish interpretation) and underpin banks and domestically exposed equities; a soft outcome would have the reverse bias and could re‑open easing chatter for later in the year. Central banks: Australia sets policy on Tuesday; guidance on the balance between sticky services inflation and a slowing consumer matters for AUD and local rates. Norway follows on Thursday; watch for any signal on the path ahead after its recent inflation trends. Fed speakers are on the circuit Thursday. Energy watch: IEA and OPEC publish monthly oil market updates on Wednesday. With shipping risks in key chokepoints lingering and inventories tight, supply‑demand revisions may ripple through crude and energy equities. The eclipse effect: A total solar eclipse on Wednesday, visible along a path from Greenland through Iceland and into parts of the Iberian Peninsula, is a boon for tourism and cruise operators. Short‑term, grid operators across affected regions may need to balance a sharp, temporary drop in solar generation and a rapid ramp afterward—potentially injecting volatility into intraday power prices and ancillary services. Sovereign wealth spotlight: Norway’s oil fund reports half‑year results and updates its holdings on Wednesday. Given its equity tilt, performance will largely mirror global benchmarks; the holdings disclosure can nevertheless move sentiment toward any high‑profile private or public positions. Earnings: themes and key names Trade lanes and freight rates (Thu): AP Moller‑Maersk will be parsed for commentary on Suez/Red Sea reroutings, Hormuz risks, and contract mix versus spot rates. Watch capex discipline, guidance, and demand elasticity in Europe/US. Semis and AI plumbing (Wed/Thu): Cisco (Wed) provides a view on enterprise networking demand, AI‑driven data‑centre backbones, and order visibility. Applied Materials (Thu) is pivotal for wafer‑fab equipment trends, memory versus logic spending and AI server content per rack. China internet and hardware (Wed/Thu): Tencent (Wed) on advertising momentum, cloud profitability and gaming cadence; JD.com (Thu) on consumer discounting intensity, logistics margin and inventory turns. Renewable build‑out (Wed/Thu): Vestas (Wed) on turbine pricing, inflation pass‑through and offshore execution; Ørsted and RWE (Thu) for offshore wind project timelines, financing costs and any asset rotation. Metals, miners and gold (Mon/Thu): Barrick (Mon) on cost discipline and project pipelines; Antofagasta and Pan American Silver (Thu) for copper/silver sensitivity to China’s demand tone and capex outlook. Travel, property and consumer (Mon/Wed/Thu): InterContinental Hotels (Tue) on Europe/US RevPAR, corporate versus leisure mix; Simon Property (Mon) for US mall traffic and leasing spreads; Adyen (Thu) on payments volume growth, take rates and enterprise onboarding. Autos and mobility (Thu): Tata Motors (Thu) for JLR margin progress, EV mix and China exposure. Aerospace/space (Mon): Rocket Lab (Mon) for launch cadence, backlog and space systems revenue split. Macro and policy calendar Monday, Aug 10 Japan: Summary of Opinions from the July policy meeting UK: KPMG/REC Report on Jobs US: Conference Board Employment Trends Index Earnings highlights: Rocket Lab, Barrick, Simon Property Group, Ferguson, Sumitomo Metal Mining, Axsome Therapeutics, Rakuten Tuesday, Aug 11 Australia: Rate decision UK: BRC July retail sales monitor Earnings highlights: InterContinental Hotels, On Holding, Alcon, Cardinal Health, Lumentum, Uniper, CEZ, JBS, Elbit Systems, Smithfield Foods, WH Group Wednesday, Aug 12 Norway: Sovereign wealth fund H1 results and full holdings list IEA and OPEC monthly oil reports Germany: July CPI/HICP US: July CPI; real earnings Eclipse: Totality path through parts of Greenland, Iceland, Portugal and Spain; partial across much of Europe Earnings highlights: Cisco Systems, Tencent, Vestas, Commonwealth Bank of Australia, Computershare, Brenntag, Constellation Software, Foxconn, Tokio Marine, Tui Group, Amcor, Hill & Smith, K+S, Metro, Performance Food Group, Franco‑Nevada, Power Assets Thursday, Aug 13 UK: Q2 GDP (first estimate) US: July PPI; Fed speakers on the circuit Norway: Rate announcement Corporate: Final acceptance deadline for Frasers’ offer for Hugo Boss Earnings highlights: AP Moller‑Maersk, Applied Materials, JD.com, Adyen, Antofagasta, Ørsted, RWE, Hapag‑Lloyd, China Mobile, CK Hutchison, Nu Holdings, Origin Energy, Insurance Australia Group, Pan American Silver, Standard Bank, Thyssenkrupp, Savills, Tata Motors, Pershing Square Friday, Aug 14 Euro area: Flash Q2 GDP and employment France: July CPI Switzerland: Flash Q2 GDP Australia: RBA Governor testimony Earnings highlights: Aviva, Talanx, Asics, Ebara, MS&AD, Sompo Sector lenses to consider Rates and FX: US CPI/PPI are the main dollar and Treasury drivers. A firm CPI skew would likely lift front‑end yields and reignite USD carry; a downside miss could aid duration and cyclicals. UK GDP adds a domestic twist to gilts and GBP crosses. Equities: AI infrastructure and capex signals (Cisco, Applied Materials) will feed the broader “AI‑spend vs. payoff” narrative. Shipping and energy updates shape Europe’s industrials. China‑sensitive names (Tencent, JD.com, Tata/JLR)

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Daily Market Updates – August 07

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

07 August 2026 – Daily Market Updates Markets Morning Briefing: Jobs Day Puts Policy Path in Focus Opening take Investors head into the US employment report with cautious optimism. Equities are edging higher, Treasury yields are a touch softer, and the dollar is steady-to-firm. Europe is in the green and much of Asia finished the session mixed, with mainland China stronger and Japan lagging on currency jitters. The stakes are high: a robust hiring print risks reviving concerns about sticky inflation and keeping policy restrictive for longer, while a softer number could ease rate expectations and support duration and equity multiples. Volatility around the release and into the US open is likely. Macro radar: Three ways today’s labor data can hit markets Hotter-than-expected: Implication: Strength in payrolls and/or wages would likely lift front-end yields, reprice rate-cut odds lower, and pressure long-duration equities. Market bias: Dollar firmer; cyclical stocks mixed; rate-sensitive growth and small caps more vulnerable; credit spreads could widen modestly. Softer-than-expected: Implication: Cooling job creation and moderating pay growth would reinforce a disinflation narrative, supporting bonds and high-quality equities. Market bias: Curve bull-steepening risk; dollar softer; defensives, quality growth, and mega-cap tech favored; credit tone steadier. “Goldilocks” mix: Implication: Moderate job gains with cooler wage momentum and stable participation could be the sweet spot for risk assets. Market bias: Broad equity participation, yields contained, FX ranges respected. Rates, FX and credit US Treasuries: Yields are a bit lower ahead of the print as traders trim exposure. Expect a larger-than-usual move in 2s/10s on the wage component. Dollar and yen: The greenback remains underpinned by yield differentials. The yen stays fragile near historically weak levels; chatter about potential official support lingers if volatility spikes. Credit: Primary markets remain open, but secondary liquidity may thin into the data. Higher-beta credit could be choppy if the report runs hot. Elevate Your Institutional Trading Discover comprehensive institutional brokerage solutions designed for professional counterparties, funds, and family offices. Explore Institutional Services Equities US futures are modestly higher as traders position for the release. Breadth has improved this week, but leadership remains concentrated in cash-generative, balance-sheet-strong names. Sectors to watch: Software/cloud: Results and guidance have skewed mixed; operational efficiency and AI monetization remain key differentiators. Internet/travel: Consumer demand and pricing power trends are being rewarded; FX and marketing spend are the swing factors. Advertising/marketing tech: Guidance sensitivity to macro and spend visibility is elevated; expect dispersion. Utilities/energy transition: Policy support and earnings visibility keep interest intact; rate moves remain the principal headwind/tailwind. Earnings calendar: Another busy session with updates across technology, consumer, media, and power/utilities. Guidance and free cash flow priorities matter more than headline beats. Commodities Oil: Crude is consolidating after recent swings tied to demand indicators and shipping-route headlines. Positioning is balanced between growth concerns and supply discipline. Gold: The metal is firm as real yields slip into the print; a soft wage read would support bullion, while a hot print could cap gains. Industrial metals: Copper strength reflects ongoing supply tightness and incremental restocking. Any growth scare would test the rally’s resilience. Positioning and sentiment Risk appetite has climbed alongside improved breadth. Several sentiment gauges point to elevated optimism, which can amplify moves around macro surprises. Consider staggering entries/exits and minding concentration risk. What we’re watching today US labor market: Nonfarm payrolls, unemployment rate, participation, and average hourly earnings. Policy chatter: Any hints on how officials weigh labor momentum versus inflation progress. Next up: Inflation data, key business surveys, and a dense slate of corporate results next week. Portfolio considerations Into the print: Keep dry powder for potential dislocations; liquidity can evaporate around data. For rate-sensitive exposures, think about collars or partial hedges to manage gap risk. Emphasize balance-sheet quality and durable cash flows while macro uncertainty persists. Scenario tilts (tactical, not advice): Hot labor: Favor value/cash-flow growers; trim duration; maintain dollar hedges. Soft labor: Add selectively to quality growth; extend duration modestly; review EM FX exposure. Mixed: Stay diversified; avoid overreacting to the first move; reassess after the close. House view summary Macro: Growth decelerating but not collapsing; inflation easing unevenly; policy restrictive but data-dependent. Markets: Narrow leadership broadening gradually; carry attractive in high-quality credit; equity risk premium compressed, making earnings delivery crucial. Trade Global Futures & Options Take a position or hedge exposure across the world’s most liquid exchange-traded futures and options markets from a single DFSA-regulated account. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – August 07 August 7, 2026 07 August 2026 – Daily Market Updates Markets Morning Briefing:… Read More Daily Market Updates – August 06 August 6, 2026 06 August 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – August 05 August 5, 2026 05 August 2026 – Daily Market Updates Morning Market Brief:… Read More Daily Market Updates – August 04 August

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Daily Market Updates – August 06

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

06 August 2026 – Daily Market Updates Daily Market Brief: Policy Crosscurrents Weigh on Bonds and the Dollar Overview Global markets are navigating a fresh bout of policy-driven uncertainty out of Washington. Shifting signals on monetary communication and indications of coordination with allies on foreign-exchange stabilization have pushed US Treasury yields toward cycle highs and taken some steam out of the dollar. Equities are mixed, with tech-heavy benchmarks softer while broader indices tread water ahead of Friday’s US employment report. Global snapshot US equity futures: mixed, with the S&P 500 slightly firmer and the Nasdaq 100 marginally lower as investors rotate within tech and wait for data. Europe: major indices are higher, led by cyclicals and select defensives. Asia: performance diverged; South Korea slumped on chip- and hardware-related weakness, while other regional markets were steadier. Commodities: crude is steady near the upper-$70s as supply risks and demand signals offset; industrial metals are range-bound. FX: the dollar is softer on balance; USD/JPY hovers near the high-150s after recent policy headlines, while high-beta currencies are mixed. Macro and policy Washington watch: Market attention is fixed on two fronts—how US monetary authorities intend to communicate the policy path from here and what role the Treasury and its partners may play in FX stability efforts. The combination has added to rate volatility, steepened parts of the curve, and weighed on the greenback. Labor in focus: Friday’s US jobs data is the next major macro catalyst. After a string of mixed activity readings, investors are looking for confirmation on wage momentum and labor demand that could influence the near-term rate trajectory. Geopolitics: Developments around maritime logistics in a key Middle Eastern chokepoint are being monitored closely. Any durable easing of bottlenecks would be supportive for shipping, oil flows, and freight rates. Equities Leadership rotation: The year’s dominant AI and software winners remain choppy as investors reassess valuations and earnings durability. Hardware and memory-exposed names underperformed on cautious outlooks, pressuring related Asian suppliers. Europe bright spots: Advertising and select services shares rallied on signs that efficiency drives and cost controls are gaining traction. Earnings calendar: A full slate across software, digital advertising, media/streaming, payments, energy, consumer discretionary, and travel reports before and after the US closing bell. Guidance and cash-flow commentary are likely to drive single-stock dispersion. Market internals: Breadth is uneven and factor rotations are fast. Quality balance sheets and consistent free-cash-flow profiles continue to attract interest during macro headline risk. Rates and FX Treasuries: Yields are pushing toward multi-year highs as investors price a wider range of policy outcomes. The long end remains sensitive to supply dynamics and term premium, while the front end reflects lingering inflation stickiness versus cooling growth pockets. Dollar: The US currency is modestly weaker versus major peers, with policy ambiguity and relative rate expectations in focus. The yen has steadied after recent volatility; carry trades remain sensitive to headlines about potential support measures. Credit: Primary markets are active and spreads are contained, but dispersion is building beneath the surface. Issuer quality, covenants, and sector-specific fundamentals matter more as the cycle matures. Navigate Market Volatility with Precision Capitalize on today’s FX and rate movements with our advanced trading infrastructure. Open an Account Commodities Energy: Brent crude is little changed, balancing geopolitical risk and refined-product demand trends. US inventory data and any shipping-route developments are the near-term swing factors. Metals: Base metals are steady, with China growth signals and global manufacturing PMIs driving the tone. Precious metals are range-bound as real yields rise but the dollar eases. What’s ahead Today: US jobless claims, productivity/cost data, and several large-cap earnings across tech, media, payments, energy, and consumer sectors. Friday: US nonfarm payrolls, unemployment rate, and average hourly earnings—key inputs for the policy outlook and rate volatility. Ongoing: Central-bank speakers globally; headlines around FX coordination, fiscal plans, and geopolitical developments. Risk radar Policy signaling: Changes in central-bank communication styles can amplify market moves, particularly in rates and FX. Liquidity pockets: Summer trading conditions can widen intraday swings; use disciplined risk parameters around data releases. Geopolitical logistics: Any disruption—or normalization—around key shipping lanes can quickly filter into energy and freight markets. Bottom line Markets are in a headline-driven holding pattern: rates are recalibrating to policy crosscurrents, the dollar is softer at the margin, and equities are rotating beneath the surface. With a pivotal US jobs report due Friday and a busy earnings slate, expect volatility around the edges and dispersion at the single-name level. Ready to Trade Global Equities and Commodities? Access tailored execution, deep liquidity, and dedicated support for your portfolio. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. Daily Market Updates – August 06 August 6, 2026 06 August 2026 – Daily Market Updates Daily Market Brief:… Read More Daily Market Updates – August 05 August 5, 2026 05 August 2026 – Daily Market Updates Morning Market Brief:…

Daily Market Updates – August 06 Read More »

Daily Market Updates – August 05

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

05 August 2026 – Daily Market Updates Morning Market Brief: Tech momentum snaps back as earnings lift sentiment Global risk appetite is firmer to start the day, with a powerful rebound in large-cap technology setting the tone even as rate markets hold steady and oil pushes higher. Four sessions of strong gains have flipped sentiment from defensive to constructive, led by cloud platforms, software, and AI‑exposed names. At the same time, the macro backdrop remains fluid: crude is advancing on hopes for progress around key Middle East shipping lanes, and policymakers’ attention on currency stability in Asia continues to simmer in the background. Market snapshot (as of 07:00 a.m. ET, per provided data) S&P 500 futures: +0.4% Nasdaq 100 futures: -0.1% US 10‑year Treasury yield: 4.61% (flat) Brent crude: +1.8% near $81/bbl South Korea equities: sharply higher Equities: from whiplash to melt-up Leadership has swung back to mega-cap tech after a bruising stretch last month. Better‑than‑expected quarterly updates from several cloud and software heavyweights have reassured investors that AI‑related investments are translating into revenue and margin durability. Semiconductors are more mixed: select names tied to data‑center CPU/GPU cycles lagged after guidance failed to clear elevated expectations, even as networking and infrastructure suppliers surprised to the upside. The rebound has been broad across growth cohorts—hyperscalers, software platforms, and select chipmakers—with travel and select cyclicals also catching a bid on resilient demand signals. Not every headline name is participating: a newly listed space/launch firm and some AI beneficiaries with aggressive spending plans saw pressure as investors re‑price near‑term cash flow and capex trajectories. Rates, FX, and policy Treasuries are steady around 4.61% on the 10‑year, with the curve largely unchanged into a busy run of earnings and potential policy headlines. The market remains sensitive to any upside surprises in wages and services‑sector pricing later this week. Currency markets continue to watch efforts to stabilize the yen amid concerns that excessive weakness could export volatility to broader Asian FX. Messaging from authorities has emphasized the importance of stability for regional financial conditions. Commodities: oil climbs on de escalation hopes Crude is firmer as traders handicap the odds of improved traffic through a key maritime chokepoint. Any tangible easing of shipping frictions would be supportive for global trade sentiment, though the supply/demand balance will ultimately hinge on inventory trends and refined‑product cracks into late summer. Industrial metals are steady to firmer alongside improving risk tone, while gold is little changed as real yields flatten. Trade Global Commodities with PhillipCapital Access comprehensive futures and gold derivatives trading through our regulated DIFC platform. Explore DGCX Trading Earnings rundown: breadth beyond tech Today’s calendar spans multiple sectors, offering a clearer read on the health of the consumer and enterprise spending. Before the open, look for updates from major entertainment, healthcare, consumer staples, and mobility platforms. After the close, storage, ad‑tech, travel platforms, energy, fintech, marketplaces, and delivery names take the stage. Key themes to watch: AI monetization pathways beyond infrastructure spend; pricing power versus volume in consumer bellwethers; cost discipline in software; cloud optimization versus expansion; and capital return frameworks amid heightened capex plans. Global context: no summer lull August often trades with thinner liquidity and sharper reactions to newsflow. This year is no exception, with geopolitical developments, currency management efforts, and a crowded earnings tape all vying for attention. For now, risk assets are leaning bullish as earnings outliers reset the narrative around AI ROI and cloud demand. Still, the speed of recent moves argues for vigilance: last month’s drawdown is a reminder that positioning can unwind quickly when expectations overrun fundamentals. What we’re watching next Earnings quality: forward guidance, backlog conversion, and cash flow versus headline beats. AI spend diffusion: evidence that benefits are broadening from infrastructure and chips to software, services, and end‑markets. Rates sensitivity: how equity duration trades respond if term premiums or inflation breakevens drift higher. Energy pass‑through: whether higher crude filters into freight and consumer prices, potentially complicating the disinflation trend. FX stability: any coordinated signals that anchor the yen and curb spillovers to Asian currencies. Portfolio considerations Balance enthusiasm with discipline: the rebound has been swift; reassess position sizing and concentration in crowded winners. Focus on cash generation: in a market rewarding profitable growth, free cash flow and operating leverage remain key differentiators. Hedge the edges: consider scenarios where oil holds a higher floor or rates back up; options‑based overlays can help manage gap risk during thin summer liquidity. Quality of guidance: prioritize names offering clear visibility into FY/next‑FY demand, not just near‑term beats. Bottom line Earnings have re‑ignited animal spirits in tech and improved the broader tone, while rates calm and firmer crude reflect a cautiously optimistic macro read. The path forward will hinge on whether guidance validates the pace of the rebound and whether macro cross‑currents—energy, FX, and policy—stay contained. For now, dips are being bought and leadership is squarely back with secular growth, but the bar has risen. Note: This commentary is for information purposes only and is not investment advice. Market levels are indicative and subject to change. Open Your Trading Account Build and diversify your portfolio with a globally trusted, DFSA-regulated broker. Open an Account Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin.

Daily Market Updates – August 05 Read More »

Daily Market Updates – August 04

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

04 August 2026 – Daily Market Updates Market Morning: S&P 500 Eyes New Peak as Breadth Improves, Oil Climbs on Geopolitical Jitters Overview US stocks enter the session with momentum building again: futures are slightly higher and the S&P 500 is within striking distance of a new all-time high. After a sharp reset in popular AI-linked names through early summer, the market tone has shifted toward healthier breadth. Cyclical sectors, small caps and rate‑sensitive areas have been catching a bid as positioning cools and investors refocus on earnings durability and cash returns. Around the markets Equities: US futures edge up; Europe trades higher on generally resilient earnings; Asia mixed with mainland China firmer. Rates: US 10-year yields are a touch higher, hovering near the upper end of recent ranges as investors weigh growth, supply and inflation data ahead. Commodities: Brent crude advances into the mid‑$80s, with a geopolitical risk premium re-emerging around key shipping lanes. Energy equities look supported; fuel-sensitive industries may face renewed headwinds. FX: The dollar is broadly firmer, with USD/JPY near the high‑150s. Traders remain vigilant for any fresh signs of official activity after recent moves to stabilize the yen. Equities: a rally widening beyond mega-cap tech Rotation and breadth: The spring/summer shakeout in semiconductors and other AI beneficiaries pulled valuations back and tempered leverage. In recent weeks, leadership has broadened into industrials, financials, real estate and small caps, improving market internals. Earnings focus: With another dense day of results across industrials, health care, consumer, and technology, attention is on 1) guidance into year‑end, 2) AI and data-center capex spillovers across supply chains, 3) margin resilience as input costs and wages evolve, and 4) buyback and dividend trajectories. Small caps vs. large caps: The gap has narrowed as investors seek cyclical exposure and domestic growth. Follow‑through will likely hinge on rate stability and signs of improving demand for capital goods and services. Trade Global Markets with Confidence Access US equities, global stocks, GCC markets, and CFDs through a DFSA-regulated broker. Build and diversify your portfolio securely with PhillipCapital DIFC. Explore Investment Products Commodities and energy Crude oil: Prices are higher on headlines tied to Gulf shipping security and broader Middle East tension. A sustained move higher in crude could bolster energy sector cash flows but pressure transportation, chemicals and parts of consumer discretionary where fuel is a key cost. Gasoline and refining spreads: Watch refining margins into late summer; tightening product markets can keep fuel costs elevated even if crude stalls. Fixed income and credit Treasuries: The long end remains sensitive to supply and term-premium dynamics. Higher yields support value stocks and financials but can be a headwind to expensive growth names if the move extends. Credit: Investment-grade remains well bid on demand for income, while high yield is more idiosyncratic into earnings and dispersion in cyclical sectors. Currencies Yen: Markets are treating the mid‑150s per dollar as a pivotal zone after recent coordinated action. Volatility around this area could spill over into Japanese equities and global carry trades. Euro and sterling: Stable to slightly softer against the dollar as European data and earnings shape rate path expectations. Sector themes to watch today Semiconductors and AI supply chain: Results and guidance will help test whether recent de‑risking has run its course and where demand is most durable (data centers, autos, industrial AI). Industrials and machinery: Backlogs, pricing power and order books are key tells for the late‑cycle path. Health care and pharma: Pipelines, patent cliffs and cost controls remain center stage; watch commentary on R&D cadence and capital returns. Consumer and internet: Ad demand, user growth and monetization trends help frame the soft‑landing narrative. Travel and leisure: Fuel volatility and capacity discipline are back in focus for airlines and travel platforms. Global snapshot Europe: Equities are broadly firmer with earnings beats outnumbering misses in several sectors; however, companies exposed to higher fuel costs or weaker online sales growth are seeing pressure. Asia: Mainland China benchmarks advanced on policy support signals and bargain hunting in large caps; elsewhere, performance was mixed as investors navigated currency swings and July’s cross‑asset volatility. What could move markets next Earnings: Another full slate before and after the bell across industrials, health care, consumer and tech. Guidance revisions will likely drive single‑stock dispersion. Oil and geopolitics: Any escalation or de-escalation around key maritime chokepoints can quickly reprice energy, airlines and inflation expectations. Rates: Auctions, Fed speak and upcoming inflation prints will steer the path of long-duration assets and factor leadership. Market breadth: Whether small caps and cyclicals can extend recent outperformance is a key tell for the sustainability of the advance toward new highs. Bottom line The path of least resistance for US equities remains constructive as the market transitions from a narrow, momentum‑led advance to a broader earnings‑driven phase. That said, higher long-end yields and an oil risk premium are re-emerging speed bumps. Expect choppier, more selective leadership with earnings and balance-sheet strength the key differentiators. Navigate Market Volatility with Expert Guidance Need help adjusting your strategy amid shifting yields and geopolitical risks? Connect with our institutional and retail brokerage experts in Dubai to optimize your investments. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts

Daily Market Updates – August 04 Read More »

Daily Market Updates – August 03

Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

03 August 2026 – Daily Market Updates Markets Morning Briefing: Yen Support Sends Ripples Across Assets Overview Global markets opened the week steady-to-firmer as investors weighed a rare, coordinated effort by US and Japanese authorities to stabilize the yen alongside softer crude prices and slightly easier long-end Treasury yields. Equity futures in the US pointed higher, oil retreated after recent geopolitical tensions showed tentative signs of easing, and the dollar-yen pair backed off its recent extremes. Top theme: Why the yen matters beyond FX A coordinated move to reinforce the yen is unusual and signals policymakers’ unease with disorderly currency moves. For Japan, a weaker currency has amplified import costs and squeezed households and corporates; for the US, the transmission runs through rates and funding markets. Japan holds a substantial stock of US Treasuries. Traditional intervention—selling dollars to buy yen—can mean offloading Treasuries, adding upward pressure to US yields. That’s a sensitivity for global risk assets, given how much equity and credit pricing leans on long-end stability. A key mitigant: the Federal Reserve’s facility that allows foreign central banks to obtain dollars by pledging Treasuries, rather than selling them outright. Wider use of such tools could dampen the impact on the open market while still supplying intervention firepower. A firmer yen can also temper trade frictions by improving Japan’s purchasing power for US exports. Strategically, officials appear intent on avoiding any perception of a weaker-dollar policy; funding yen purchases via non-dollar reserves is one way to keep the dollar stance intact. What to watch next: Signals of follow-on operations or “smoothing” activity if volatility resurfaces. Any pickup in foreign official use of the Fed’s foreign repo facility. The long end of the US curve, where persistent selling pressure would be most felt. Bank of Japan communications on rate settings and balance-sheet tools. Institutional Services for Funds & Family Offices Secure direct API, algorithmic trading connectivity, and global execution through a DFSA-regulated powerhouse Explore Institutional Coverage Cross-asset snapshot Equities: US futures edged higher, helped by softer yields and a pullback in oil. Europe opened mixed; Asia was steadier, with Japan’s market firming as the yen stabilized. Rates: US Treasury yields eased slightly at the 10- to 30-year maturities after a brisk run-up. The curve remains sensitive to supply, data, and foreign official flows. FX: Dollar-yen slipped from recent highs after the joint move; traders remain alert to headlines and intraday liquidity pockets. Broader dollar indices were rangebound. Commodities: Crude retreated as geopolitical risks appeared a touch less acute and as risk assets found footing. Industrial metals were mixed; gold held near recent ranges. Crypto: Security headlines around hardware wallets kept a lid on sentiment; dispersion remained high across tokens. Companies and sectors to watch Pharma deal talk: Reports of a potential mega-cap combination in the sector jolted shares—typical pattern saw the prospective buyer under pressure and the potential target bid up. Beyond the immediate price action, investors are parsing implications for pipelines, patent cliffs, and regulatory hurdles. Electrical infrastructure: A European cables leader agreed to purchase a US maker of electrical and conduit products, underscoring steady demand for grid, data center, and electrification buildouts. Index changes: A building products and distribution company is slated to join a major US large-cap index, replacing a constituent involved in a pending acquisition. Passive flows and sector weights are in focus. Technology and AI: A leading Chinese platform rolled out a new flagship AI model, keeping competitive pressure elevated in foundation models and enterprise AI tooling. Cybersecurity/crypto: Exploits targeting certain “cold” wallet configurations reminded investors that operational security remains as critical as market beta for digital assets. Macro calendar and earnings Data: The US labor market report caps the week and is expected to show hiring re-accelerating from a softer prior print. Wage trends and participation will shape rate expectations as markets debate how restrictive policy remains. Earnings highlights: Before the bell today, hospitality and protein producers report; after hours, look for updates from ride-hailing/super-apps, analog and power semis, AI/defense software, E&P, biotech, and social media. Later this week, results from media/streaming, quick-service restaurants, and a leading CPU/GPU designer will be key reads on advertising, consumer demand, and AI infrastructure capex. Strategy takeaways FX: Expect two-way volatility in dollar-yen. Clearer, rules-based signals from authorities can dampen spikes, but the underlying rate differential remains wide; tactical positioning and options hedges are likely to stay elevated. Rates: If intervention is financed without significant Treasury sales, that could ease some pressure at the long end. Still, supply, inflation surprises, and term premium dynamics argue for ongoing choppiness. Equities: Lower oil and gentler yields are a near-term tailwind for duration-sensitive sectors (tech, comm services), while M&A and index flows can add idiosyncratic dispersion. Balance guidance against still-elevated macro uncertainty. Commodities: Oil’s pullback bears watching; a durable easing in geopolitical risk would help headline inflation optics into autumn, but inventories and OPEC+ discipline remain swing factors. Key risks to monitor Follow-through and effectiveness of yen operations; risk of spillovers to US rates. US payrolls and inflation prints that could reprice the path of policy. Geopolitical developments with potential to re-tighten energy markets. Cyber and operational risks in digital assets and adjacent fintechs. Note: Market conditions and price moves referenced are based on early US trading indications and are subject to change. Diversify Your Portfolio Across Global Markets Seamlessly invest in US stocks, ETFs, GCC equities, and Indian derivatives Discover Investment Products Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and

Daily Market Updates – August 03 Read More »

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Weekly Global Market News-August-Week 1

Market Updates, Weekly Global Market Update / PhillipCapital DIFC Research Team

Weekly Global Market News – August, Week 1 The Week Ahead: Peak earnings, SpaceX’s first results call, Flutter’s New York pivot, and key inflation prints Welcome to your weekly markets briefing. We’re moving into the thick of earnings season with market-moving updates across tech, media, energy, healthcare and consumer services. Alongside that, investors will parse fresh inflation data from Asia, pivotal US labour figures, and decisions or minutes from several central banks. Below is your concise roadmap to the themes, catalysts and tickers that could shape price action in the days ahead. Top themes to watch SpaceX’s inaugural earnings call Why it matters: Fresh off a blockbuster IPO and subsequent volatility, the company will brief public investors for the first time. The Starlink satellite unit is the revenue engine and an important proxy for satellite broadband adoption, potential mobile direct-to-device offerings in the US, and capital needs. What to watch: Starlink subscriber growth, ARPU and churn; launch cadence and backlog; cash burn versus capex; regulatory/spectrum commentary; AI/data relay opportunities. Read-across for satellite operators, telcos eyeing NTN (non-terrestrial networks), launch peers, and space-adjacent ETFs. London-to-New York migration spotlight: Flutter What’s new: The sports-betting group completes its London delisting and will trade solely in the US. A Q2 update midweek should show whether US scale (FanDuel) continues to drive margin expansion. Why markets care: Another high-profile move underscores the valuation and liquidity gap between London and Wall Street. Watch for implications for UK equity sentiment, plus any cash-return or leverage guidance. Media under the microscope: Warner Bros Discovery Setup: Results land amid a legal bid by 12 US states to block the Paramount–Skydance takeover of Warner Bros Discovery. The merger timeline is paused pending court outcomes. Focus: DTC profitability trajectory, advertising trends, sports rights inflation, debt reduction and free cash flow. Cross-effects on peers’ consolidation hopes. Inflation and growth pulse checks Asia prices: CPI and PPI updates from China and India will test the disinflation narrative and policy flexibility. US labour: Nonfarm payrolls on Friday cap the week; JOLTS arrives earlier. Unit labour costs and productivity (Thursday) will feed the wage–inflation debate. Central banks: India’s RBI decides Wednesday; Brazil also sets rates midweek; the Bank of Japan releases minutes from June. FX sensitivity: INR, BRL, JPY. Global PMIs and European data S&P Global manufacturing and services PMIs across major economies will map momentum. France/Germany production data and Germany’s factory indicators add colour on Europe’s industrial trough-or-turn. Earnings spotlight (selected) Monday: Palantir, ON Semiconductor, Marriott, Tyson Foods, Vertex, Snap, Clorox, Nissan, Itochu, Marubeni, Mitsubishi Tuesday: AMD, Amgen, Arista Networks, Booking Holdings, BP, Caterpillar, McDonald’s, Pfizer, Gilead, Pinterest, Spotify, HSBC, Lufthansa, Bayer, Toyota, Saudi Aramco (interim), SpaceX (first call) Wednesday: Disney, Uber, Shopify, Eli Lilly, Novo Nordisk, DoorDash, Expedia, CVS Health, The New York Times Co, News Corp, Honda, Infineon, Glencore, Heineken, Legal & General, Brookfield Asset Management, Carlyle Group Thursday: Airbnb, Cloudflare, Datadog, ConocoPhillips, Occidental Petroleum, Diageo (FY), Deutsche Telekom, Fox, Siemens, SoftBank, Zurich Insurance, WPP, Nintendo, Lyft, Allstate, Albemarle, Admiral Friday: AIG, Allianz, Munich Re, OCBC, UOB, Kingspan, Recruit Holdings, Japan energy majors Access Global Markets Explore a comprehensive range of investment solutions spanning global equities, fixed income, and wealth management. Discover What We Offer Macro calendar highlights (selected) Monday: PMIs (manufacturing) across US, UK, Eurozone and Asia; Switzerland CPI; Turkey CPI/PPI Tuesday: South Korea CPI; US JOLTS openings Wednesday: PMIs (services) broad set; RBI rate decision (India); Brazil rate decision; France industrial production; BoJ June minutes; UK reserves Thursday: Euro-area construction PMIs; ECB Economic Bulletin; Germany factory indicators; US Q2 productivity and unit labour costs; Fed speak (St. Louis) Friday: US employment report; Germany production; France labour market; Canada labour force survey; Fed speak (Richmond) What it could mean for markets Equities Semiconductors: ON Semi and AMD frame the chip cycle beyond core AI GPU demand—watch EV/industrial exposure and data-center (accelerator/adapter) commentary. Megacap healthcare: Eli Lilly and Novo Nordisk remain pivotal for GLP-1 demand, capacity and payer dynamics. Cross-currents for consumer staples and medtech. Energy: BP, Conoco, Oxy and Petrobras updates meet tighter physical balances—capex discipline and shareholder returns are key to multiple support. Media/advertising: WPP, Disney, Fox—ad softness versus sports/streaming monetisation; look for progress on DTC losses and cost takeout. Travel and leisure: Booking, Airbnb, Marriott—pricing power, length-of-stay, and US vs international mix amid resilient premium travel. Rates and FX US: Payrolls and unit labour costs steer front-end yields; softening wage growth would aid real-rate relief and support risk. Asia EM: RBI hold vs. inflation trajectory sets tone for INR; BoJ minutes sift for tolerance of yield volatility—JPY sensitivity persists. LatAm: Brazil’s decision gauges the endgame for its easing cycle—BRL and local curves to react. Commodities Crude oil: Energy earnings plus any OPEC+ supply headlines can reinforce range-trading; watch product cracks heading into late summer demand. Gold: Real yields and USD moves into payrolls to drive direction; dips remain sensitive to macro surprises. Watchlist: data points and KPIs by theme SpaceX/Starlink: Subscribers, ARPU/churn, capex runway, launch backlog AI infrastructure: Hyperscaler capex signals via partner commentary (chip firms, cloud-exposed software) GLP-1s: Production scale-up, supply constraints, indications into cardiometabolic outcomes Consumer elasticity: Pricing vs volume across QSRs, beverages and discretionary apparel US labour: Payroll headline, unemployment rate, participation, average hourly earnings, revisions Quick tactical considerations Into payrolls: Consider tightening risk and FX hedges if positioning is extended; reassess after the wage print. Earnings volatility: Elevated single-stock dispersion—options-implied moves are rich in select tech and healthcare; screen for mispricings. UK assets: Flutter’s NY-only listing rekindles London valuation debate—monitor UK fund flows and potential corporate actions among internationally-focused FTSE names. Start Your Investment Journey Looking to take your trading strategy to the next level? Request a free consultation with our experts in Dubai. Contact Us Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade

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