Upbeat U.S. GDP Spurs Dollar Strength
The U.S. GDP released yesterday surpassed market expectations, which has tempered some speculation about a Fed rate cut and spurs dollar's strength.
Oil Price Soar on Geopolitical Tension
Geopolitical tensions in both the Middle East and Eastern Europe have escalated, oil prices surged nearly 3% in yesterday's session. creating significant unease in the broader financial markets.
BoJ Holds Firm on Tightening Path Fuels Yen
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.
Eye on Today’s FOMC Meeting Minutes
Wall Street took a pause in the last session, with all three major indexes remaining relatively flat as investors awaited the highly anticipated FOMC meeting minutes.
Dollar Pressures by Dovish Fed Remark
The Dollar Index (DXY) remains under pressure as dovish comments from multiple Federal Reserve officials suggest the possibility of a rate cut in the near future.
Dollar Rebound on Upbeat U.S. Economic Indicators
stronger-than-anticipated U.S. Retail Sales growth and Initial Jobless Claims, eased recession fears and bolstered the dollar's strength in the last session.
Dollar Eases on Soft PPI Reading
Wall Street rallied on the soft PPI reading in the last session and the sentiment is shared in the Asian equity markets on Wednesday.
Oil Prices Surge on Libya Oil Production Close-down
In the oil market, prices recorded their biggest gain in August following a production halt at Libya’s biggest oil field, which produces nearly 270,000 barrels of oil per day.
Wall Street Dip With Looming U.S. Recession
The financial markets, especially the equity sector, continue to be shattered by recession fears. The U.S. equity fear index, VIX, spiked to 65.70—the highest level since the pandemic in 2020
Key Economic Calendar Events for This Week (August 5-9, 2024)
This week's economic events include: Japan's Monetary Policy Minutes and U.S. Services PMI on Monday, impacting JPY and USD. Tuesday's RBA Interest Rate Decision affects AUD, with German Factory Orders influencing EUR. Wednesday sees German Industrial Production and U.S. Crude Inventories impacting EUR and USD. Thursday: RBA Governor speaks, with U.S. Jobless Claims. Friday: China's CPI and Canada's Unemployment Rate affect CNY and CAD.
Sterling Ease on BoE Rate Cut
The BoE's decision to cut rates by 25 basis points came in line with market consensus, leading to a decline in the Pound Sterling
Nasdaq Plummet Ahead of Fed’s Interest Rate Decision
On Wall Street, the AI frenzy continued to weigh on the U.S. equity market, with mega-cap tech stocks plunging and leading the Nasdaq to close more than 200 points lower, hitting its lowest level since June.
Soft PCE Hinders Dollar’s strength
The PCE came in line with market expectations at 2.5%, suggesting that inflationary pressure in the country is moving toward the targeted 2% rate and heightening the likelihood of a September Fed rate cut speculated in the market.
Eye On Today’s PMI Readings
As the forex market has been dull in recent sessions, the PMI readings from the U.S., U.K. and eurozone today may be a catalyst to stimulate the market.
Wall Street Rally as Risk Appetite Improve
Wall Street rallied in the last session as investors anticipate earnings reports from mega-caps including Alphabet and Tesla, due later today.
Biden’s Election Withdrawal Bolstering Dollar?
Biden's withdrawal from the upcoming U.S. presidential election has thrown a stun grenade into the market, with most asset classes standing pat as investors digest the event.
Wall Street Faces Headwind and Plummet
Wall Street Faces Headwind and Plummet
Wall Street Rallies On Powell's Dovish Tone
The U.S. equity market rallied, with the Dow Jones climbing to its highest point in the last session, gaining over 200 points.
U.S. Geopolitical Issue Boost Dollar’s Strength
The U.S. presidential race as candidate Donald Trump was shot at a campaign rally in Pennsylvania, intensifying geopolitical uncertainty across markets.
Dollar Plummet on Soft CPI
The highly anticipated U.S. CPI report met expectations with a figure below market consensus, shaking up financial markets. The dollar plummeted to its lowest level since last month amid heightened speculation of a dovish Fed stance.
