Market Update

Following Powell’s Senate testimony, which suggests a cautious approach to rate cuts, gold prices jump beyond $2,360. Although DXY gains 0.14%, the rate on the US 10-year Treasury increases to 4.296%.During Tuesday’s North American session, gold prices marginally increased following remarks made by Federal Reserve Chair Jerome Powell before the …

The Reserve Bank of New Zealand is expected to keep rates on hold at 5.50% following its July monetary policy meeting. Market participants are expected to see a rates on-hold decision due to discouraging economic performance and inflation risks. They will look for fresh hints on the timing of the …

Following the relatively data-insensitive June rate cut, European Central Bank (ECB) speakers have stood firm on the message of data-dependency. Next week’s ECB meeting likely to take stock of the available data and compare it to the latest forecast.Possible rate cut in September Following the relatively data-insensitive June rate cut, …

The Canadian dollar struggled to develop momentum with little of note on the docket. Canada is largely absent from the economic calendar this week. Fed Chair Powell stuck close to the usual script, giving investors little to work with.The Canadian dollar found little reason to move in any particular direction …

Fed Chair Jerome Powell is speaking Tuesday before the Senate Banking Committee as part of his semiannual address to Congress on monetary policy.With the Fed still on hold regarding interest rates, Powell’s remarks are closely monitored for hints about what it will take to start easing. At the Fed’s June …

U.S. stock index futures climbed on Tuesday as market optimism regarding a potential interest rate cut in September continued to build, ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress. In early morning trading, Dow Jones Futures rose, S&P 500 Futures gained, and Nasdaq 100 Futures advanced. The S&P …

Oil prices remained relatively stable on Tuesday as the impact of Hurricane Beryl on a major U.S. oil-producing hub in Texas proved less severe than initially feared. The storm, which weakened into a tropical storm after making landfall, caused minimal disruption to major refineries along the U.S. Gulf Coast. Brent …

Gold prices climbed in Asian trade on Tuesday, recovering from overnight losses as investors eagerly awaited Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress, hoping for indications of a potential interest rate cut. Gold’s Recent Gains and Rate Cut Expectations: The precious metal saw a notable increase last week, …

Asian stock markets experienced a mixed day on Tuesday, with most indices rising on growing expectations of lower U.S. interest rates. Japan’s Nikkei 225 index stole the spotlight, surging to a record high fueled by tech stock gains and a weakening yen. However, Chinese markets lagged behind due to persistent …

The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …