The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …
Read More »IMF: China’s growth slowing on weaker private investment
A spokesperson for the International Monetary Fund (IMF) said on Thursday that slowing exports and weaker private investment cause China’s growth momentum to slow, per Reuters.There doesn’t appear to be any discernible effect of these remarks on risk mood. As of writing, the S&P 500 Index was up 0.6% on …
Read More »Dollar is falling ahead of US inflation data, and sterling is at its highest level in 15 months
The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …
Read More »WTI up on China-linked sentiment as correction eyed
On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …
Read More »Dollar falls to its lowest level in two months and pound rises
The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …
Read More »Market Drivers – US Session – 10/07/2023
After a cautious opening due to inflation data from China that suggested weaker demand, Wall Street closed in the green. The Nasdaq increased by 0.18% while the Dow Jones increased by 0.62%. Less than 1% was lost in the price of crude oil, while gold finished level at $1,925 per …
Read More »US stocks cautiously rise ahead of CPI data
As investors analysed Chinese economic data, a significant US inflation report, and corporate profits on Monday, Wall Street equities increased marginally but oil prices and the currency declined. The S&P 500 increased by 0.24%, the Nasdaq Composite increased by 0.18%, and the Dow Jones Industrial Average increased by 0.62%. The …
Read More »Dollar is making up for its losses and Yuan is falling after weak inflation data in China
The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …
Read More »WTI declines as the US dollar strengthens on US labour data
WTI crude declines by more than 1% as the dollar-denominated commodities are hurt by a stronger US dollar and concern about Fed tightening. Mixed labour market indicators from the US and increased business activity heighten the likelihood of a rate hike in June. Fears of a recession brought on by …
Read More »US Dollar enjoys firmer stance on hawkish Fed bets as China eyed
The US Dollar Index teeters around weekly top after rising in the last three consecutive days. FOMC Minutes confirm July rate hike even as softer US data exists.Traders seek solace in US Dollar as yields portray recession fears, China-linked headlines appear grim. US ISM Services PMI, ADP Employment Change eyed, …
Read More »