The US dollar managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September.Key Developments:The USD Index (DXY) rebounded from multi-day lows near 104.30 on the back of te …
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Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …
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Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …
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China’s 2024 economic growth target was raised by the International Monetary Fund from 4.6% to 5%. This upward revision is a result of China’s efforts to support its real estate sector and follows a robust first quarter performance1. Key Quotes, Insights Robust Q1: China’s proactive efforts to boost its real …
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US markets return after a long weekend, with Fedspeak dominating headlines. The Canadian Dollar is softer on Tuesday, reflecting some gains from the start of the trading week. The Canadian Dollar is softer as investors await the US Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) inflation due on …
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The strong Consumer Confidence and Housing sector data was not enough to trigger big movements in the US dollar. Next highlight will be Wednesday’s Fed’s Beige Book report where markets will get a clearer outlook on the US economy’s health.PCE and GDP revisions are the week’s highlights. The US Dollar …
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Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …
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The U.S. stock market is transitioning to a shorter settlement cycle on Tuesday, a move regulators hope will reduce risk and enhance efficiency in the world’s largest financial market. However, this shift is expected to temporarily increase transaction failures for investors as they adapt to the accelerated timeline. Under the …
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The U.S. dollar experienced a slight dip in early European trading on Tuesday, attributed to a minor uptick in risk sentiment. However, trading ranges remained narrow as investors eagerly awaited the release of crucial inflation data. As of 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against …
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European stock markets displayed a mixed performance on Tuesday, with the return of U.K. markets after a holiday break. Investors eagerly anticipated key inflation data from both Europe and the United States, seeking insights into the future direction of monetary policy. Early in the trading day, Germany’s DAX index edged …
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