Market Update

The Australian dollar went through additional losses against the US dollar on Wednesday, reaching 0.6580. Worsening concerns over China’s economic health and commodity prices were the primary contributors to the AUD’s slide. Australia reported weak Judo PMIs during the Asian session, which could potentially restrict any further weakening of the …

The US housing market is undergoing significant transformations, with implications for the broader economy. A decline in foreign buyer activity, coupled with persistent inventory shortages and price fluctuations, is shaping the market’s trajectory. This article delves into recent data to explore these trends and their potential impact on the US …

Nasdaq has been taken by a storm. The tech-heavy Nasdaq Composite is going through a major direction change. On Wednesday, the Index saw its worst day since December 2022 as a perfect storm of worsening economic indicators and Megacap Tech companies’ disappointing reports sent shockwaves across the market. The Dow …

The US Dollar Index (DXY) fell towards 104.13, earlier during the North American session, immediately after the mixed PMI reading from Standard & Poor’s and the Federal Reserve’s dovish policy bets added to the US currency’s decline.It is expected that the reading of the personal consumption expenditures index, Durable Goods …

S&P Global composite PMI fell to 50.1 in July, attributed to the lack of growth of business activity in Germany and France. Eurozone business activity grinds to a halt amid surprise slump in Germany. Eurozone private-sector activity barely grew this month as its top economy Germany unexpectedly slumped, the latest …

In an effort to reduce price pressure and depress economic conditions, the Bank of Canada has lowered its benchmark interest rate for the second time in a row. Weakening economic circumstances and lessening pricing pressures led the central bank to decide to cut its policy rate by a quarter of …

Alphabet Inc. reported its second-quarter financial results on Tuesday, exceeding analyst expectations with notable strengths in its Search and Cloud divisions. The tech giant posted adjusted earnings per share (EPS) of $1.89, surpassing the consensus estimate of $1.83. Revenue for the quarter reached $84.74 billion, outpacing the average analyst projection …

Bitcoin prices continued their downward trend on Wednesday, reflecting a broader week of losses. The decline is largely attributed to a weak risk appetite among traders, driven by growing uncertainty surrounding the U.S. political landscape. In the past 24 hours, Bitcoin fell by 1.7%, bringing its price down to $65,793.50 …

Oil prices experienced a notable rebound on Wednesday, halting a three-day streak of losses. The uptick in prices was driven by a combination of decreasing U.S. crude inventories and heightened supply risks due to wildfires in Canada. Brent crude futures for September increased by 40 cents, or 0.5%, reaching $81.41 …

The Federal Reserve introduced flexible average inflation targeting (FAIT) in 2019-20 to improve performance in a low interest rate world. The Fed believed it had a problem with low inflation, as its preferred measure of inflation had averaged just over 1.5% between 2010 and 2019. The review committing the central …