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FBS is thrilled to announce our participation in two major financial events in Asia – iFX Expo Asia 2024 and Traders Fair Davao!
Kamala Harris makes history at the Democratic National Convention, while global markets react to central bank policies and geopolitical developments. Alibaba's listing upgrade and Japan's currency movements highlight Asia's financial dynamics. Meanwhile, Russia faces military and economic challenges as Ukraine escalates attacks. Key market players like Uber and Canadian rail companies respond to industry disruptions.
As the U.S. election approaches, the Federal Reserve faces complex challenges in formulating monetary policy. Kansas City Fed Chairman Schmid emphasizes the importance of needing more economic data before making interest rate cut decisions, while Boston Fed Chairman Collins and Philadelphia Fed Chairman Harker believe that interest rate cuts should start as soon as possible. Adam Posen, President of the Peterson Institute for International Economics, points out that Federal Reserve Chairman Jero
On Thursday (August 22), the US dollar index broke away from its annual low and expanded its gains during the release of US PMI and existing home sales data, ultimately closing up 0.338% at 101.52.
JPY strengthened against the USD, pushing USD/JPY near 145.00, driven by strong inflation data and BoJ rate hike expectations. Japan's strong Q2 GDP growth added support. However, USD gains may be limited by expectations of a Fed rate cut in September.
The Bank of Japan (BoJ) remains on course with its monetary tightening policy, according to the BoJ Chief, following his hearing at the Japan Lower House.
AUS Global, a leading provider of forex and trading solutions, is delighted to announce the success of its participation in the HQ MENA Investment Expo held in Mumbai on August 17-18, 2024. As a Diamond Sponsor of this prestigious event, AUS Global had the opportunity to connect with a wide audience of investors and industry professionals, further strengthening its position in the Indian market.
The initial value of the US S&P Global Manufacturing PMI in August was 48, which was lower than expected and the lowest in 8 months; the service PMI was 55.2, which exceeded the expected 54. The number of initial jobless claims in the week ending August 17 was 232,000, slightly higher than expected, and the previous value was revised from 227,000 to 228,000. Existing home sales in July increased for the first time in five months. The PMI data was lower than expected, which was bad for the US eco
Market Review | August 23, 2024
Market Review | August 23, 2024
The U.S. Conference Board Consumer Confidence Index rose to 100.3 in July 2024, up from a revised 97.8 in June. For Q2 2024, the U.S. GDP grew at an annualized rate of 2.8% in a preliminary reading, a notable increase from the 1.4% growth in Q1 2024. The Eurozone's annual Consumer Price Index (CPI) rose to 2.6% in July 2024, up from 2.5% in June. This slight increase was driven mainly by a jump in energy prices, which rose by 1.3% compared to 0.2% in the previous month. The US Core PCE which...
FPG Fortune Prime Global's Sister Company, FPG Property, Undertakes the $150 Million AUD Parklife Doveton Project.
This week's financial landscape is shaped by Kamala Harris’s record-breaking campaign fundraising, Walmart’s strategic exit from JD.com, and rising market anticipation of the Federal Reserve's rate decisions. Meanwhile, geopolitical tensions and shifts in Asia's economic policies continue to impact global trade and investment flows. Key developments include strong South Korean exports, potential Canadian rail strikes, and the ongoing effects of inflationary pressures in Australia and Europe.
The dollar continued to face downside pressure following the release of the FOMC meeting minutes. Concerns were raised by FOMC members over potential labour market deterioration, with the majority of the members signalling that a September rate cut might be appropriate. This dovish narrative provided buoyancy to the equity market, as all major U.S. indexes gained in the last session.
Gold prices remain above $2,500, near record highs, as investors await the Federal Open Market Committee minutes for confirmation of a potential Fed rate cut in September. The Fed's dovish shift, prioritizing employment over inflation, has weakened the US Dollar, boosting gold. A recent revision showing the US created 818,000 fewer jobs than initially reported also strengthens the case for a rate cut.
Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Annual Meeting is highly anticipated, with the market predicting that he will send a signal to cut interest rates to address the slowdown in employment growth and inflation issues. The latest data shows that the U.S. employment market is performing worse than expected, while inflation, although somewhat relieved, is still high. The Fed discussed the possibility of rate cuts in the July meeting minutes, which has attracted high a
At Giraffe Markets, we provide the tools and resources to help you confidently navigate the commodity markets. Whether you're interested in trading gold, oil, or agricultural products, our platform offers a seamless experience for new and experienced traders.
The U.S. Bureau of Labor Statistics revised down the employment growth in the year ending in March by 818,000, an average monthly decrease of about 68,000, the largest downward revision since 2009. The substantial downward revision of employment data re-emphasized the severity and necessity of the U.S. employment problem, paving the way for a rate hike in September. Bearish for the U.S. dollar.
On Wednesday (August 21), the US dollar index fell for the fourth consecutive trading day, briefly breaking through the 101 level during trading, hitting a new low for the year, and finally closing down 0.191% at 101.17.
Market Review | August 22, 2024