The US Dollar rebounded after the Federal Reserve’s (Fed) decision, with market participants focusing on Friday’s Nonfarm Payrolls data. Despite signs of disinflation, the strong US economic landscape led Fed Chair Jerome Powell to maintain a data-dependent stance. While chances of a rate cut in September increased, Powell’s demand for …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
August, 2024
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1 August 2024 7:24 pm
XAU/USD climbs above $2,450 as NFP eyed
Gold prices surged past $2,450 on Thursday, fueled by the Federal Reserve’s (Fed) signal of potential rate cuts and escalating tensions in the Middle East. The Fed expressed increased confidence in a slowing inflation rate during the second quarter, bolstering expectations for a policy shift.The XAU/USD index reached a two-week …
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1 August 2024 1:57 pm
Dollar bounces after Fed decision while pound slides before BoE
The U.S. dollar rebounded on Thursday following a decline the previous day, as central bank decisions continued to impact currency markets. The dollar index, which measures the dollar against six major peers, rose by 0.29% to 104.35. This recovery came after a 0.4% drop the day before, when the Federal …
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1 August 2024 1:27 pm
European shares lower on earnings
Major European equity markets experienced declines on Thursday, impacted by corporate earnings reports from both the U.S. and Europe. Meanwhile, expectations of forthcoming policy easing in the United States supported global bond markets. The Federal Reserve maintained interest rates on Wednesday but hinted at a potential cut in September. Traders …
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1 August 2024 3:56 am
Jerome Powell Takes Center Stage After Fed’s Interest Rate Decision
The Federal Reserve, under the leadership of Chairman Jerome Powell, has demonstrated unwavering commitment to aligning and determination to adjust its actions with market expectations. Their recent decision to maintain interest rates without deviation from prevailing trends reflects this resolve. By doing so, Powell aims to instill confidence in investors …
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1 August 2024 3:35 am
Which scenario will BoE meeting follow?
The Bank of England faces a critical decision on interest rates as policymakers weigh whether to reduce borrowing costs for the first time since the onset of the Covid-19 pandemic. Following a significant decline in inflation this year, Threadneedle Street is poised for its first rate cut since raising interest …
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1 August 2024 2:45 am
Market Drivers; US Session, July 31
BoJ Surprise, Fed Signal: The unexpected rate hike by the Bank of Japan (BoJ) surprised the foreign exchange (FX) world on Wednesday. The Fed left its policy rate unchanged but signaled a potential rate cut in September.Upcoming Events:Bank of England (BoE) decision: Odds are split regarding a probable rate reduction. …
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1 August 2024 1:42 am
US Treasury yields decline as Powell stresses on labour
After the Fed maintained current interest rates, US Treasury yields declined; the 10-year note drops to 4.04%. Fed Chair Jerome Powell highlights the significance of the labour market, noting that the July Nonfarm Payrolls report will be crucial in determining future interest rates.By year’s end, market players factor in three …
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1 August 2024 12:04 am
S&P 500 Rallies as Fed Hints at Rate Cut
Wall Street surged on Wednesday, propelled by the S&P 500’s largest single-day gain since February. The optimism was ignited by the Federal Reserve’s decision to hold interest rates steady while signaling a potential rate cut as soon as September. Fed Chair Jerome Powell indicated that progress in taming inflation and …
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July, 2024
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31 July 2024 11:34 pm
USD/JPY Declines as Fed Signals September Rate Cut
On Wednesday, the USD/JPY pair declined by 1.5% following the Bank of Japan’s surprise quarter-point rate hike—the second such hike since 2007. Japanese interest rates are now above zero for the first time since September 2010.Meanwhile, the Federal Reserve (Fed) maintained rates during its July meeting, as expected. Fed Chairman …
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31 July 2024 10:54 pm
Powell Speech: Upside Risks to Inflation Have Decreased
Federal Reserve Chairman Jerome Powell recently explained the decision to leave the policy rate (federal funds rate) unchanged in the range of 5.25% to 5.5%. During the post-meeting press conference, Powell addressed questions and provided insights.Interest Rates and Inflation:• The Fed maintained interest rates at a two-decade high.• The central …
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31 July 2024 10:00 pm
FOMC keeps interest rate unchanged in July
The US Federal Reserve (Fed) announced on Wednesday that it left the policy rate, the federal funds rate, unchanged at the range of 5.25%-5.5% following the July policy meeting. This decision came in line with the market expectation. Federal Reserve officials were widely expected to leave their key interest rate unchanged …
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31 July 2024 9:48 pm
EUR/USD recovers from daily lows on softer DXY ahead of FOMC decision
In addition to giving up previous gains, the EUR/USD pair was trading lower at 1.0805 during Wednesday’s second half of the day. With a -0.18% decline and a current value of 104.263, the DXY Index is in negative territory. DXY is impacted by disappointing US private sector job data, which …
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