{"id":104427,"date":"2024-08-01T02:45:54","date_gmt":"2024-07-31T22:45:54","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=104427"},"modified":"2024-08-01T02:49:01","modified_gmt":"2024-07-31T22:49:01","slug":"market-drivers-us-session-july-31","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-july-31\/08\/01\/market-updates\/","title":{"rendered":"Market Drivers; US Session, July 31"},"content":{"rendered":"\n<p><strong>BoJ Surprise, Fed Signal:<\/strong> 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.<br>Upcoming Events:<br>Bank of England (BoE) decision: Odds are split regarding a probable rate reduction. <br><br><strong>USD Index<\/strong> weakened due to BoJ-driven strength in the Japanese yen and a somewhat dovish message from Chief Powell after the Fed meeting. Key data releases include ISM Manufacturing PMI, Initial Jobless Claims, Construction Spending, and the final S&amp;P Global Manufacturing PMI.<br><br><strong>Currency Pairs:<\/strong><\/p>\n\n\n\n<p>EUR\/USD reversed part of its weekly retracement, revisiting the 1.0850 region. GBP\/USD saw modest gains around 1.2850 ahead of the BoE decision. USD\/JPY retreated sharply after the BoJ rate hike, breaching the key 150.00 support. AUD\/USD broke below 0.6500, signaling further losses.<br><br><strong>Commodities<\/strong><br><br><strong>Gold<\/strong> prices advanced, retesting the $2,440 region per ounce troy. Silver also gained, approaching the $29.00 mark per ounce.<br><br><strong>WTI Oil Prices:<\/strong> Geopolitical concerns and a drop in US crude oil inventories lifted WTI prices to around $78.00 per barrel.<br><br><strong><span style=\"text-decoration: underline;\">Also Read:<br><\/span><\/strong><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. USD Index weakened due to &hellip;<\/p>\n","protected":false},"author":13,"featured_media":52661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7202,7907,6885,6874,6909],"class_list":["post-104427","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-bank-of-england","tag-boj","tag-fed","tag-gold","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104427"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104427\/revisions"}],"predecessor-version":[{"id":104437,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104427\/revisions\/104437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52661"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}