Market Update

The largest US bank stocks have been crushing the overall market, but investor disappointment with the results put a stop to the rally. Following its net interest income miss, Wells Fargo is expected to see its largest earnings-day decline in over three years. Even though Citigroup’s market revenue exceeded forecasts, …

Tesla has postponed the launch of its highly anticipated robotaxi by approximately two months to October, according to a Bloomberg News report. This delay stems from a directive for the design team to rework certain elements of the vehicle. Following the news, Tesla’s shares experienced an 8% decline, closing at …

Bitcoin’s price has been on a downward spiral, hitting a four-month low as concerns mount over increased selling pressure from various sources, including Mt. Gox refunds and actions by the German government. However, some experts believe this might be a “bear trap,” luring investors into selling prematurely before a potential …

The U.S. dollar found its footing on Friday after a sharp decline to a one-month low, triggered by softer-than-expected inflation data that fueled expectations of a September rate cut by the Federal Reserve. However, the broader foreign exchange markets remained cautious due to volatility in the Japanese yen, which strengthened …

Gold prices experienced a minor dip in Asian trading on Friday, but still held strong gains from the previous session, bolstered by softer-than-expected U.S. inflation data that fueled expectations of a September interest rate cut. Gold’s Strong Performance: The yellow metal surpassed the significant $2,400 an ounce level on Thursday, …

Federal Reserve Bank of Chicago President Austan Goolsbee on Friday marked the latest inflation report as “excellent.” Goolsbee further stated that the reports prove that the central bank is on track to meet its 2% target.The US Dollar Index (DXY) is trading unchanged on the day at 104.45, as of …

Japan’s top currency diplomat, Masato Kanda, who will instruct the BoJ to intervene, when he judges it necessary, said on Friday that the recent move of the Japanese Yen (JPY) is somewhat rapid and he will take appropriate measures on foreign exchange (FX) if needed. At the time of writing, …

US Dollar Dives on Soft US Inflation: The US Dollar Index (DXY) plunged to multi-week lows around 104.00 after disappointing Consumer Price Index (CPI) data and falling US yields. This data fueled speculation of the Federal Reserve cutting interest rates as early as September, sending the Dollar tumbling. Today (July …

The Euro strengthened against the US Dollar (USD) along with other currencies after US inflation data showed a slowdown. This pushed the EUR/USD pair to its highest level in five weeks. However, the gains weren’t sustained. The EUR/USD pulled back from its daily highs, suggesting a possible reversal and a …

The financial markets have been wildly volatile this week, with notable swings in the price of gold, Bitcoin, and the British pound (GBP) caused by a variety of circumstances. Let’s examine the main forces at work in their performance and look forward.Dynamic Interplay The complex interplay among economic data, expectations …