The S&P 500 and Nasdaq reached record closing highs for a third consecutive day on Wednesday, following softer inflation data. However, the indexes ended off the day’s highs as the Federal Reserve projected only one interest rate cut this year. Fed’s March projections included three quarter-percentage-point reductions. Stocks were choppy …
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
June, 2024
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12 June 2024 11:37 pm
Oil Prices Rise, Then Fall Back on Fed Rate Cut Comments
On Wednesday, WTI started to rise and peaked at about $79 per barrel. This came after May’s consumer price increases were less rapid than anticipated, according to positive inflation data. This raised expectations that the Federal Reserve (Fed) will lower interest rates in September.Those expectations were short-lived, though, as Fed …
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12 June 2024 10:06 pm
Fed leaves policy rate unchanged at 5.25%-5.5% as expected
The US Federal Reserve (Fed) announced on Wednesday that it left the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% following the June policy meeting. This decision came in line with the market expectation. Fed will release the revised Summary of Economic Projections (SEP), the so-called dot …
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12 June 2024 8:07 pm
Fed cools Gold, stocks, buoys US Dollar
The Federal Reserve is split on the path for rates, and this uncertainty cools the enthusiasm after the soft CPI which triggered a big rally. Interest rates have a critical role in moving financial markets, and the US Federal Reserve (Fed) is the most influential central bank. The Fed announces …
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12 June 2024 7:01 pm
Gold Prices Surge Following CPI Data
Gold surged after the release of US CPI data, which showed price rises slowing in May. This suggests that the Federal Reserve may cut interest rates sooner than expected, lowering the opportunity cost of holding Gold. Gold could experience more volatility after the Fed policy decision is announced on Wednesday. …
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12 June 2024 3:13 pm
U.S. Stock Futures Rise Ahead of Fed Meeting and CPI Data
Tech Stocks Lead Gains, Fed Decision and Inflation Data in Focus U.S. stock index futures edged higher on Wednesday, maintaining positive momentum ahead of the Federal Reserve’s policy meeting and the release of crucial inflation data. The S&P 500 and Nasdaq Composite reached record highs on Tuesday, driven primarily by …
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12 June 2024 12:28 pm
European Stocks Rise Amid Economic Data Release and Fed Meeting Anticipation
European stock markets experienced gains on Wednesday as investors digested regional growth and inflation data ahead of the conclusion of the Federal Reserve’s latest policy meeting. Key Market Movements: DAX (Germany): +0.4%CAC 40 (France): +0.4%FTSE 100 (U.K.): +0.6% Economic Data: German consumer prices rose 2.8% year-on-year in May, up from …
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12 June 2024 12:26 pm
Dollar Stabilizes Ahead of Key Inflation Data and Fed Meeting
Markets Await U.S. CPI and Fed’s Economic Projections The U.S. dollar held steady on Wednesday following a recent surge to a four-week high. Market participants are eagerly awaiting the release of U.S. inflation data and the Federal Reserve’s updated economic projections, both expected later in the day. The data and …
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12 June 2024 9:28 am
Gold Prices Steady Near Key Support Ahead of Fed Meeting and CPI Data
Gold prices held steady in Asian trade on Wednesday, hovering around the crucial $2,300 support level as traders awaited further clarity on U.S. monetary policy from the Federal Reserve’s meeting and upcoming inflation data. Recent Decline and Support Level: The yellow metal has experienced a sharp decline in recent sessions …
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12 June 2024 5:08 am
FOMC Decision Preview: Interest Rate Cut Still Uncertain
Amid uncertainty surrounding interest rate cut forecast for the remainder of this year, the Fed meets for two days to discuss monetary policy. When this meeting ends on Wednesday, June 12, traders, analysts, and investors look forward to the decisions made there in hope of learning additional signals on the …
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12 June 2024 12:26 am
Australian dollar neutrally trades on mixed data
As sellers gain strength, the AUD/USD pair navigates through uneven trading. This week’s US inflation data and Fed dot plot are the main topics of interest. Mixed NAB business survey results are released by Australia. The AUD/USD pair’s performance was uneven, with some bearish pressure and a sticky range around …
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11 June 2024 11:37 pm
Euro weakens against the USD ahead of Fed’s rate decision
The European parliamentary elections still disrupt market confidence. US consumer price index (CPI) inflation data and the Federal Reserve’s rate announcement are scheduled for Wednesday. The Fed’s updated “dot plot,” summarizing future interest rate expectations, is highly anticipated.EUR/USD suffered its third straight loss on Tuesday as market sentiment soured due …
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11 June 2024 10:43 pm
Gold price hold steady ahead of key CPI data, FOMC decision
Positive sentiment prevails in the US economy, as evidenced by the May NFIB Small Business Optimism Index exceeding expectations. Upcoming data, including the Consumer Price Index (CPI) and the Federal Open Market Committee’s (FOMC) monetary policy decision with its “dot plot,” are likely to influence gold prices as inflation concerns …
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