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Week Ahead: US Inflation and ECB Meeting to spark volatility
The risk event calendar picks up this week with top tier US and UK data, the ECB meeting and a slew of Chinese figures to watch out for. The big recent theme across the summer has been the resilience in US economy data and the rise in both Treasury yields and the greenback.
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US Dollar Recovers from Jobs Shock, Australian Dollar Dips on Cooling Inflation
On Wednesday, the dollar saw its sharpest drop in a month and a half due to the prevailing sentiment among investors that the less-than-expected U.S. jobs data has reduced the chances of additional interest rate increases from the Federal Reserve. Concurrently, the Japanese yen has maintained its position close to 146 against the dollar, bouncing back from its 10-month nadir of 147.375. This resurgence was credited to a decrease in Treasury yields, which undermined backing for the U.S. currency.
Crude Prices Flat as Possible Rate Hikes Fuel Demand Worries
On Monday crude oil prices were flat, pressured by concerns that more U.S. interest rate increases may dent demand.
Ringgit opens lower versus US dollar!!
On Monday (August 28), the Malaysian ringgit commenced trading with a decline against the US dollar, as the strength of the greenback persisted due to hawkish remarks made by Jerome Powell, the Chair of the US Federal Reserve.
Ringgit could rise amid global uncertainties?!
The domestic currency is expected to remain within the range of RM4.64 to RM4.65 today.
Stocks Pick of The Week - Inflation Data Alters Fed Expectations; Tech Sector Reacts
It appears that the market has made a decision: The relatively quiet inflation report for July has sparked expectations that the Federal Reserve may hold off on additional interest rate increases.
The US dollar is trading flat as Monday’s trading session gets underway
As the trading session begins on Monday, the US dollar is showing no significant movement. The currency gained momentum on Friday when US producer prices were reported higher than anticipated. Although the discrepancy was not sizeable, it continued the previous trend of producer price readings exceeding expectations, which was also observed during the minor Consumer Price Index increase disclosed on Thursday.
Stocks Pick of The Week - Inflation Data Alters Fed Expectations; Tech Sector Reacts
It appears that the market has made a decision: The relatively quiet inflation report for July has sparked expectations that the Federal Reserve may hold off on additional interest rate increases.
Ringgit lower against US dollar in early trade
At 9:01 AM, the domestic currency weakened to 4.6275/6295 against the US dollar, a decrease from yesterday's closing rate of 4.6140/6175.
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 10 , 2023
SPR and Inflation – Strategic Petroleum Reserve Hits Historic Low
The Strategic Petroleum Reserve (SPR) has served as a pillar of security for the United States since 1975, providing the capacity to react to emergencies and oil trade conflicts. The recent Ukraine conflict has prompted the SPR to assume a new function—that of combating inflation caused by the sanctions against Russia due to its invasion of Ukraine.
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 08 , 2023
Cautious sentiment continues at Bursa Malaysia in early trade
At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) experienced a decline of 3.12 points, slipping to 1,442.69 from yesterday's closing level of 1,445.81.
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 07 , 2023
Bursa Malaysia opens marginally lower on cautious sentiments
Bursa Malaysia commenced the week with a slight decline on Monday, reflecting a sense of caution in the market following Wall Street's lackluster performance on Friday and apprehensions regarding China's economic expansion.
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 04 , 2023
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 03 , 2023
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Powered by WikiFX: (GOLD, EUR/USD, GBP/USD and USD/JPY) Technical Analysis August 02 , 2023
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