The US jobs data came in below forecasts, causing the Dow Jones Industrial Average (DJIA) to drop 400 points on Thursday, losing territory for the second time this week. Since the day’s initial shock selloff, stocks have recovered, but the Dow Jones is having difficulty leveling off for the day. …
Read More »Euro Loses Ground, Hits 1.1100 After Positive US ISM Services PMIs
The euro has lost ground against the US dollar after reaching a high above 1.1100 earlier in the day. However, it’s still slightly up due to expectations of a Federal Reserve interest rate cut. The US dollar’s next major catalyst will be the August US Non-Farm Payroll report on Friday. …
Read More »U.S. Dollar Falls as Economic Concerns Fuel Expectations of Fed Rate Cut
The U.S. dollar dropped to a one-month low against the yen and faced pressure from other major currencies on Thursday as concerns about the U.S. economic outlook fueled expectations of a substantial interest rate cut from the Federal Reserve in the coming week. The yen reached a one-month high earlier, …
Read More »European Shares Dip Amid Caution Ahead of U.S. Labor Data
European stocks continued their downward trend for the fourth consecutive session on Thursday, as investors remained cautious, awaiting key economic data from the eurozone and tracking U.S. labor market figures to assess the Federal Reserve’s future interest rate decisions. As of 0715 GMT, the pan-European STOXX 600 index dipped by …
Read More »Market Drivers; US Session, September 4
As markets anticipate a larger-than-expected rate cut by the Federal Reserve later this month, recent economic data suggests a slowdown in the US labor market, supporting the rate cut expectations. The Euro strengthened against the dollar as the US dollar’s value declined. Key economic indicators for the Eurozone, including factory …
Read More »US equities face a downturn as September concerns materialize
US stocks experienced a mixed session on Wednesday, with the S&P 500 and Nasdaq Composite slipping while the Dow Jones Industrial Average held steady. This comes amid ongoing concerns about economic growth and a sluggish start to September, a historically challenging month for markets.Nvidia’s recent market value plunge has reignited …
Read More »USD/JPY Dives Deeper On Declining T-Yields
The USD/JPY pair experienced a significant decline during the recent North American trading session, falling below the crucial 144.00 level, at 143.61 as of this writing This downward movement was primarily driven by a combination of factors, including weaker-than-expected US job market data, increased expectations of a potential interest rate …
Read More »XAU/USD Rises Following Weak US JOLTS Data
Gold prices pushed higher during the North American session as the likelihood of a 50 basis point (bps) rate decrease by the Federal Reserve increased due to the US’s weaker-than-expected jobs statistics. In addition, the yield on US Treasury bonds decreased, which hurt the US dollar, which has an inverse …
Read More »Fed Beige Book: US Economy Shows Slowdown, But Hope Remains
The Federal Reserve’s latest Beige Book paints a picture of a sluggish US economy. Released on Wednesday, the report found that economic activity stagnated or even declined in most regions. While job losses were uncommon, businesses are being cautious. Hiring slowed, with some companies opting for shorter shifts, leaving positions …
Read More »EUR/GBP Recovers As Technical Indicators Remain Cautious
The EUR/GBP exchange rate has seen a rebound from its recent lows, with technical indicators suggesting a potential improvement. However, mixed signals from the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicate that the overall outlook remains neutral. The pair is likely to continue trading sideways in …
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