Market Update

The dollar retreated slightly from a 12-week level on Monday, August 28, as investors assessed the path of US monetary policy after US Federal Reserve Chairman Jerome Powell left the door open to the possibility of further interest rate hikes. In a highly anticipated speech at the annual financial policy …

Gold prices rose Monday, August 28, despite US Federal Reserve Chairman Jerome Powell’s statements about the possibility of further rate hikes, as markets seek indications through economic data this week to draw a clearer picture of the path of interest rates. Spot gold rose 0.1% to $1,915.99 an ounce by …

Japan’s Nikkei average on Monday posted its highest one-day rise in two months as investors bought back shares after losses at the end of last week, but tourism-related stocks fell amid concerns about the impact of a Chinese ban on seafood imported from Japan. The Nikkei rose 1.73 percent to …

All economic developments and investor-focused topics in the previous trading week were eclipsed by the speeches by ECB President Christine Lagarde and Fed Chair Jerome Powell on Friday. Hawkish stances from Jackson HoleECB President Christine Lagarde and Fed Chair Jerome Powell addressed key economic developments and investor-focused topics. Lagarde emphasized …

The GBP/USD pair retreated by 0.18% due to concerns over global business activity and China’s real estate market woes. The US Dollar Index advanced 0.19% to new two-month highs, driven by Powell’s hawkish remarks on inflation and rate hikes at Jackson Hole. Mixed US economic data, including lower-than-expected Initial Jobless …

Christine Lagarde, president of the European Central Bank, said on Friday that crucial inflation expectations are still anchored at 2%. She emphasized the significance of these anticipations and expressed certainty that the inflation figures will change by the year end.Following statements by Lagarde of the ECB and Powell of the …

After Jerome Powell, Fed Chair declared that monetary policymakers will proceed carefully in making interest rate decisions, Wall Street is hoping for its first profitable week in four weeks. The Nasdaq composite and Dow Jones Industrial Average both increased by 0.9% in late trade, while the S&P 500 increased by …

Following Powell’s hawkish comments, DXY increased by 0.18%, signaling a higher dollar relative to six major currencies. With ambiguous Treasury yield curve signals and conflicting official opinions, a 25-bps rate hike in November has a 46.7% chance of happening, which defies past Fed projections.The US Dollar Index (DXY), a gauge …

Interest rate futures tied to the Federal Reserve’s policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings after Chair Jerome Powell struck what market participants perceived to be a moderately hawkish tone.The Fed though is widely expected to …

Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613.Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls.Lackluster Canadian retail sales data at …