The US Dollar rebounded from its 2024 lows on Thursday as risk sentiment weakened. Rising US Treasury yields also supported the Greenback, ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole.Key Economic Events Federal Reserve Chair Powell’s Speech: The speech will provide insights into the Fed’s monetary policy …
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The United States, burdened by a staggering $28 trillion national debt, is facing a looming fiscal crisis. The increasing interest payments on this colossal debt, now surpassing defense spending, are a stark indicator of the nation’s precarious financial position. This escalating debt burden is a bipartisan legacy, with both recent …
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Gold prices retreated from a record high of $2,531 as US Treasury yields rose, with the 10-year note up 6.5 basis points to 3.865%. This decline occurred despite dovish signals from the Federal Reserve.Gold prices declined amid rising US Treasury yields and a stronger US Dollar. While the Federal Reserve …
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Fed Chair Jerome Powell is scheduled to deliver his most important speech of the year, raising concerns that the Fed may have delayed relieving pressure on the economy. In July, following the central bank’s decision to maintain interest rates, Fed Chair Jerome Powell addresses reporters at a news conference. Most …
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The Dow Jones Industrial Average experienced a significant pullback on Thursday, August 22, 2024, as investors braced for Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole Economic Symposium. The broader market, including the S&P 500 and Nasdaq Composite, also suffered losses, driven by rising bond yields …
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Oil prices experienced a significant uptick on Thursday, August 22, as Saudi Arabia reported a substantial decline in its oil exports for the month of June. This marked the lowest export revenue for the country in three years, prompting fears of further OPEC intervention to stabilize the market. WTI is …
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The Pound Sterling struggled to gain momentum against the U.S. Dollar on Thursday, despite positive UK economic data. The GBP/USD pair hovered just below 1.3100, suggesting that investors remain cautious about further gains due to uncertainty surrounding the Federal Reserve’s interest rate policy.A break above 1.3100 could lead to a …
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Germany’s business activity continued to shrink in August, marking the second consecutive month of contraction and signaling deepening challenges for the eurozone’s largest economy. A preliminary survey released on Thursday revealed that the downturn was more severe than economists had anticipated. PMI Index Highlights Economic Struggles The HCOB German flash …
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Oil prices continued their downward trend on Thursday, marking the fifth consecutive session of declines as investors grew increasingly concerned about the global demand outlook, despite a recent decline in U.S. fuel inventories. Price Movements and Statistics Brent crude futures slipped by 10 cents to $75.95 per barrel, while U.S. …
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Bitcoin prices edged higher on Thursday, benefiting from a broader rally in risk-driven markets as traders increasingly bet on a September interest rate cut by the Federal Reserve. However, gains were limited by concerns over potential new token distributions from the defunct crypto exchange Mt Gox, which kept the cryptocurrency …
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