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Market Analysis

July, 2024

  • 26 July 2024 7:02 pm

    US Dollar Index edges lower following US PCE Inflation

    Core PCE

    As stable US core PCE inflation growth seems insufficient to affect firm Fed rate-cut expectations, the US dollar declines. It is largely expected that the Fed will hold interest rates steady the following week. The confidence of Fed policymakers on the return of inflation to a 2% path has increased. …

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  • 26 July 2024 1:03 pm

    European Shares Flat, Poised for Modest Weekly Loss Amid Mixed Earnings

    European stocks exhibited a flat performance on Friday, reflecting a lack of clear direction as investors digested a diverse range of corporate earnings reports. The pan-European STOXX 600 index remained steady at 508.9 points by 0710 GMT, heading towards its second consecutive week of losses after hitting a two-month low …

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  • 26 July 2024 12:32 pm

    Oil Prices Edge Up, Still Set for Third Consecutive Weekly Decline

    Oil prices saw a slight uptick on Friday but remained on course for a third consecutive week of declines, influenced by weak demand from China and evolving geopolitical developments in the Middle East. Marginal Gains on Friday Brent crude futures for September inched up by 12 cents, or 0.2%, to …

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  • 26 July 2024 10:57 am

    Asian Stocks Climb as Tech Shares Stabilize, But Weekly Losses Persist

    Most Asian stock markets saw gains on Friday, buoyed by a recovery in technology shares after several sessions of declines. Despite the uptick, regional indices were still on track for significant weekly losses, influenced by recent underperformance in the technology sector and mixed signals from global markets. Technology Sector Leads …

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  • 26 July 2024 9:47 am

    Gold Prices Rise in Asian Trade, But Set for Weekly Loss Amid Dollar Strength

    Gold prices inched up in Asian trading on Friday, recovering slightly from a week marked by significant losses as traders largely favored the dollar ahead of key interest rate signals. The precious metal had surged to record highs in July, only to be pulled back by a mix of profit-taking …

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  • 26 July 2024 3:47 am

    Will BoE Cut Interest Rate In August?

    It is like a coin toss when the Bank of England decides on interest rates next week. The market is not as sure as most analysts that a rate cut will occur next week. There is disagreement among the members of the central bank’s policymaking committee; some support lowering interest …

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  • 26 July 2024 3:34 am

    Market Drivers; US Session, July 25

    The US Dollar Index held near 104, influenced by yen movements and rate cut speculation. The release of PCE data, personal income, personal spending, and the final Michigan Consumer Sentiment is expected to impact the dollar.The euro recovered recent losses, trading near 1.0870 against the dollar. The ECB’s Consumer Inflation …

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  • 26 July 2024 2:47 am

    Will PCE Be A Green Light for Rate Cut In September?

    The economic landscape is shifting as evidence of cooling inflation becomes increasingly apparent. The June Personal Consumption Expenditures (PCE) Price Index report, a key metric closely watched by the Federal Reserve, is anticipated to reflect continued moderation in price growth. This positive trend, driven by factors such as declining gas …

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  • 25 July 2024 11:29 pm

    What Could Make the Trump Presidency Mostly Bearish for Crude Oil?

    Analysts predict that a second Donald Trump presidency after the election on November 5th would be generally negative for the oil market, albeit it would probably have a limited impact. Even while Trump seems to have a more pro-oil and gas agenda than a Democratic contender, it would take a …

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  • 25 July 2024 10:27 pm

    Gold Loses Shine As Investors Eye US Data

    Gold prices tumbled on Thursday, dropping over 1.67% to reach their lowest point in two weeks. This decline comes as investors shift their focus from safe-haven assets to upcoming US economic data, particularly the Personal Consumption Expenditure (PCE) data due on Friday. The precious metal is trading at $ 2,357.5 …

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  • 25 July 2024 9:14 pm

    DXY Losses Curbed Following Encouraging GDP Figures

    US Dollar DXY reduced losses on strong Q2 GDP data. The US economy seems to be holding up, but dovish bets on the Fed are still in place. The Fed continues to take a data-dependent approach in the interim and holds off on making any cuts very soon. Following a …

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  • 25 July 2024 7:02 pm

    ‘Sales plan’ pushes American Airlines to slash earnings forecast

    American Airlines has slashed its profit forecast for the year due to a backfired sales plan and an industry-wide glut of flights. The carrier’s profit fell 46% during the second quarter, even though revenues rose. The company expects to earn an adjusted 70 cents to $1.30 per share this year, …

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  • 25 July 2024 2:48 pm

    Dollar Weakens Ahead of GDP Data, Yen Strengthens on BOJ Speculation

    The U.S. dollar continued to weaken on Thursday, with the Dollar Index, which measures the greenback against a basket of six other currencies, dropping 0.2% to 103.950 as of 05:25 ET (09:25 GMT). This decline extended the dollar’s losses from the previous session. Dollar Retreats Ahead of Key Economic Data …

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