After a strong recovery, the price of gold has levelled out as investors look for new reasons to take action. At the time of writing, the precious metal is selling for $1921.51 per ounce. At the Jackson Hole Symposium, Fed Chair Jerome Powell reaffirmed that future policy decisions will be …
Read More »Financial Markets’ Weekly Recap, August 21-25
All economic developments and investor-focused topics in the previous trading week were eclipsed by the speeches by ECB President Christine Lagarde and Fed Chair Jerome Powell on Friday. Hawkish stances from Jackson HoleECB President Christine Lagarde and Fed Chair Jerome Powell addressed key economic developments and investor-focused topics. Lagarde emphasized …
Read More »WTI ignores hawkish signals, rebounds ahead of Powell’s speech
The WTI crude oil is climbing to $79.05 per barrel, up 0.20%, at the time of writing, as hawkish signals by Fed officials initially dent but later fail to suppress oil prices.Iran announces plans to ramp up crude oil production to 3.4 million bpd by the end of September. The …
Read More »US stocks drop more than 1% after Jackson Hole kicks off
The US stock market experienced losses due to a stronger USD and hawkish remarks by Federal Reserve officials at the Jackson Hole Symposium. The SPX erased gains from Wednesday, retreating to 4,380. Fed officials Thomas Barkin and Susan Collins sounded hawkish at the beginning of the symposium. Jerome Powell’s speech …
Read More »Fed’s Collins suggests US central bank can hold steady
Susan Collins of the Fed indicated on Thursday that the US central bank may be in a position where it doesn’t need to hike rates once more, while she left the door open for further action. These remarks had no immediate response from the US Dollar Index, which was last …
Read More »AUD/USD rises past 0.6450 amid US dollar’s weakness
The AUD/USD pair sets a third consecutive day of gains, rising more than 0.60% towards 0.6470. PMIs from August from the US and Australia came in lower than expected.Dovish bets on the Fed are applying pressure on the USD. The AUD/USD gained traction in Wednesday’s session, driven by a weaker …
Read More »USD/CHF advances as markets await a fresh catalyst
Around 0.8800, the USD/CHF pair displays modest increases. Since early August, the price of the pair has been moving sideways. Thomas Barking of the Fed made some pessimistic remarks that helped the USD.Investors are anticipating Powell’s remarks on Friday and the US August PMIs on Wednesday. On Tuesday, the USD/CHF …
Read More »Fed’s Barkin: Won’t prejudge outcome of Fed’s September policy meeting
Thomas Barkin, President of the Federal Reserve Bank of Richmond has emphasized the need for the Fed to be open to the possibility of the US economy reaccelerating rather than slowing, which could have implications for the central bank’s inflation fight. The US Dollar Index clings to daily gains above …
Read More »EUR/USD steadies around 1.0900 post Germany’s Buba Monthly Report
After six straight days of losses, the EUR/USD is now trading near 1.0900. at the time of writing, the pair is seen at 1.0895. Upside inflation concerns were alluded to in the German Buba Monthly Report, which encouraged hawkish bets on the European Central Bank. Investors are looking forward to …
Read More »How has gold price reacted to bond market turmoil?
On Monday, the price of gold kept falling as the bond market turbulence persisted. The XAU/USD pair fell to its lowest point since March 14th, 1,880. Its decrease from this year’s peak is greater than 9.3%. At the time of writing, the precious metal is selling for $ 1894.69 per …
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