Market Update

Weak US economic statistics is the reason behind an eight basis point decline in the US 10-year Treasury yield. FOMC minutes mention the downturn in the economy and leave room for rate decreases should inflation get close to the 2% target. A decline in ADP Employment Change and a notable …

The minutes of the latest FOMC meeting issued on Wednesday indicated that members of the committee are convinced that the US consumer price index readings (CPI) last May provided evidence that there is progress in terms of lowering inflation while meeting the central bank’s goal.A number of policymakers also suggested …

Gold prices surged over 1% on Wednesday due to weak US economic data and rising Fed rate cut expectations. The latest FOMC meeting minutes showed that “several participants” were ready to lift rates if inflation remained elevated. The Institute for Supply Management (ISM) shows contracting US services activity, while labor …

The stock market’s impressive July debut is carrying over the energy from 2024’s promising first half. Although strong earnings are anticipated for the upcoming quarter, several analysts believe notable growth predictions for the remainder of the year are unrealistic. This could signal a postponement of the probable decline in the …

The US Federal Reserve will release its June 11-12 policy meeting minutes on Wednesday at 18:00 GMT. Investors will scrutinize the Fed’s hawkish hold and inflation outlook to gauge the timing of the expected interest rate cut this year. The Fed maintained its monetary policy settings for the seventh consecutive …

European stocks enjoyed a boost on Wednesday, buoyed by Federal Reserve Chair Jerome Powell’s encouraging remarks and anticipation surrounding key political events in France and the UK. The pan-European STOXX 600 index rose 0.3%, marking its second gain in seven sessions. Investor sentiment was lifted by Powell’s comments regarding “significant …

Asian stocks presented a mixed picture on Wednesday, with Japan’s Nikkei 225 index reaching new highs while Chinese markets faltered due to a disappointing reading on service sector activity. Japan’s Nikkei Takes the Lead Japan’s Nikkei 225 index surged by 0.9%, breaking the 40,000 mark for the first time in …

With another session of quiet trading activity across the FX sector, the US dollar moved marginally defensively. At their discussion panel at the ECB Forum, Fed Chair Jerome Powell and ECB President Christine Lagarde left no space for surprises in the interim. Investors are bracing themselves for a plethora of …

Powell Cites “Actual Advancement” While Central Bankers Evaluate War Against Inflation. Christine Lagarde, the head of the European Central Bank, and Jerome H. Powell, the chair of the Federal Reserve, both sounded upbeat about recent inflation figures but emphasized the need for greater confidence before cutting interest rates. Over the …

Crude Oil prices briefly reached new highs on Tuesday, with West Texas Intermediate crude testing above $83.50 per barrel before easing back to $82.50. The American Petroleum Institute (API) reported a steeper-than-expected drawdown in US Crude Oil supplies, with API barrel counts showing a weekly decline of -9.163 million, far …