{"id":105160,"date":"2024-08-28T04:48:00","date_gmt":"2024-08-28T00:48:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=105160"},"modified":"2024-08-28T08:12:35","modified_gmt":"2024-08-28T04:12:35","slug":"market-drivers-us-session-august-28-2","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-august-28-2\/08\/28\/market-updates\/","title":{"rendered":"Market Drivers: US Session, August 28"},"content":{"rendered":"\n

The US Dollar struggled to maintain its upward momentum on Tuesday, as market participants adopted a cautious stance ahead of crucial economic data releases later in the week. The British Pound emerged as a standout performer, benefiting from the Bank of England’s persistent hawkish stance.

Key Economic Events for Wednesday, August 28:
<\/strong>
US: MBA Mortgage Applications, EIA Crude Oil Inventories, FOMC’s Waller Speech
Eurozone: M3 Money Supply, Loans to Companies and Households
Australia: RBA Monthly CPI Indicator
Japan: Final Coincident Index, Leading Economic Index

Currency Pairs:
<\/strong>
EUR\/USD: Gained ground, recovering from Monday’s decline.
GBP\/USD: Reached two-year highs, supported by BoE rate hike expectations.
USD\/JPY: Continued its downward trend, testing the 144.00 support level.
AUD\/USD: Consolidated near recent peaks, attempting to break above the 0.6800 barrier.

Commodities:
<\/strong>
WTI Crude Oil: Retreated sharply due to renewed demand concerns and profit-taking.

Gold: Experienced mixed trading, remaining above $2,500 per ounce.
<\/p>\n\n\n\n

Silver: Rose slightly, hovering near the $30.00 mark.
<\/p>\n\n\n\n

The market remains focused on upcoming economic indicators, particularly the US Personal Consumption Expenditure (PCE) data, which could significantly impact the Federal Reserve’s monetary policy decisions.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Also Read:<\/strong><\/p>\n\n\n\n

US dollar weakened against gold and European currencies<\/a><\/p>\n\n\n\n

US bond yields continue to rise<\/a><\/p>\n\n\n\n

USDJPY is decoupling from US Treasury yields<\/a><\/p>\n\n\n\n

Euro weathered the storm of negative data<\/a><\/p>\n\n\n\n

Gold climbs as rate cut forecasts increase<\/a><\/p>\n\n\n\n

US stocks rallied ahead of Nvidia\u2019s earnings report<\/a><\/p>\n\n\n\n

USD Continues to Decline After Consumer Confidence Data<\/a><\/p>\n\n\n\n

GBP\/USD Records New Multi-Year High Above 1.3200<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Dollar struggled to maintain its upward momentum on Tuesday, as market participants adopted a cautious stance ahead of crucial economic data releases later in the week. The British Pound emerged as a standout performer, benefiting from the Bank of England’s persistent hawkish stance.Key Economic Events for Wednesday, August 28:US: MBA Mortgage Applications, EIA …<\/p>\n","protected":false},"author":13,"featured_media":52669,"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":[37,36],"tags":[9278,7218,6871,6909],"class_list":["post-105160","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gold-price","tag-pce","tag-usd","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105160","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=105160"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105160\/revisions"}],"predecessor-version":[{"id":105182,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105160\/revisions\/105182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52669"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=105160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=105160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=105160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}