Market Update

Gold prices pulled back from record highs in Asian trade on Thursday, as the yellow metal’s rally cooled. The market remains focused on potential U.S. interest rate cuts and rising recession fears, which have created a volatile environment for precious metals. After surging to unprecedented levels earlier in the week …

The US Dollar continued its downward trend, reaching levels last seen in late December 2023. This decline was primarily fueled by growing expectations for a September interest rate cut, as indicated by the Federal Open Market Committee (FOMC) minutes. Key Economic Events:Jackson Hole : This influential economic gathering kicks off …

Wall Street closed modestly higher on Wednesday, with the S&P 500 and Nasdaq gaining over 0.4% and 0.5% respectively. The Dow Jones Industrial Average saw smaller gains of 0.14%. Advancing stocks outnumbered declining ones on both the NYSE and Nasdaq. The S&P 500 and Nasdaq set new 52-week highs, while …

On Wednesday, there was a sharp increase in the EUR/USD exchange rate, which culminated in fresh 13-month highs. Growing hopes that the Federal Reserve (Fed) would start a rate-cutting cycle in September are the main driver of this surge. These expectations were reinforced with the publication of the Fed meeting …

The latest Federal Reserve meeting minutes indicate a strong likelihood of a rate cut at the upcoming September meeting. The vast majority of FOMC participants expressed confidence that the recent economic data, including inflation and unemployment trends, support a reduction in interest rates. While caution was advised regarding the sustainability …

The recent minutes from the Federal Open Market Committee (FOMC) meeting indicate that the central bank is considering easing monetary policy in the near future. This sentiment has provided support to gold prices, which have remained relatively steady above the $2,500 level.Fed officials expressed increasing confidence in their ability to …

According to the Minutes from the two-day session held on July 30-31, the vast majority of participants indicated it would likely be appropriate to ease policy at the next meeting if the data continued to align with expectations.Jerome Powell admits officials discussed a rate cut at July meeting The Fed …

Bitcoin climbed on Tuesday to nearly $61,000, mirroring gains in other risky assets. On Wednesday it surged further to the daily high of $61,782, and eventually stabilized around $61,100, up by around 3.4%. This rise is likely due to growing expectations of a Federal Reserve rate cut in September.However, Bitcoin …

The Fed is prepared to reduce key interest rates next month as a result of inflation getting closer to its 2% target, while officials at the Fed are now focusing on the state of the labour market because they are growing more optimistic about their ability to control inflation amid …

Oil prices edged lower on Wednesday, influenced by growing U.S. crude inventories and indications that tensions in the Middle East may be easing after a diplomatic tour of the region by key mediators. Brent crude futures dipped by 11 cents, or 0.1%, to $77.09 a barrel by 0630 GMT, while …