Market Update

The GBP/USD pair has reached a new multi-year high, trading above 1.3200. The uptrend remains intact as long as the pair stays above 1.3043. If buyers reclaim 1.3298, it could expose the March 2022 peak at 1.3437. Conversely, a dip below 1.3200 will reveal further support levels, such as 1.3130 …

Bitcoin’s price slipped on Tuesday, losing momentum after a weekend rally as escalating geopolitical tensions and anticipation of key economic cues dampened risk appetite. The world’s largest cryptocurrency fell 1.4% to $3,106.6 by 01:10 ET (05:10 GMT), following a broader decline in global stock markets. Geopolitical Concerns and Market Reactions …

The German economy experienced a slight contraction of 0.1% in the second quarter of 2024, reversing the modest growth seen in the first quarter, according to official data released by the Federal Statistical Office on Tuesday. Economic Performance Overview The quarter-on-quarter shrinkage follows a 0.2% expansion in Germany’s Gross Domestic …

Gold prices slipped in Asian trading on Tuesday, pressured by a strengthening dollar. However, the potential for lower interest rates and ongoing geopolitical tensions kept the precious metal close to its recent highs. Gold Market Performance Spot gold declined by 0.4% to $2,507.15 an ounce, while December gold futures fell …

Oil prices took a step back on Tuesday, following a sharp rally that saw them rise by more than 7% over the previous three sessions. The recent surge was driven by heightened concerns over potential supply disruptions in the Middle East and Libya, prompting traders to reassess the situation. Market …

The US Dollar Index (DXY) initially dipped to new lows near 100.50 on Monday but managed to reverse that decline later in the day, bouncing back toward the 101.00 barrier. Keep an eye on the Consumer Confidence gauge published by the Conference Board and the FHFA’s House Price Index on …

Following Powell’s remarks at Jackson Hole about possible policy easing in September, gold prices surged. Powell mentions labour market-linked concerns as well as inflation management; while some Fed officials reiterate forecasts for rate cuts.US durable goods orders increased 9.9% in July, indicating a robust economy; tensions in the Middle East …

The US dollar bounces back after falling on Friday as a result of Powell’s dovish comments. The market expects a 100 basis point ease by year-end and a 200 basis point ease overall over the next 12 months. Later this week, PCE figures will come into focus. The US Dollar …

Dow Jones Industrial Average (DJIA) reached a new all-time high of 41,419.65 on Monday, despite a generally quiet trading day. This follows a significant surge last week after the Federal Reserve signaled a potential rate cut in September.Investors are still digesting the impact of the Federal Reserve’s comments, which indicated …

US Treasury yields are attempting to hold firm in the face of expectations for interest rate cuts. Yields on US government bonds are trying to withstand the rising expectations of interest rate cuts next month, supported by optimism that has prevailed in the markets since the statements of Mary Daly, …