The market remained calm as the Fed's chief delivered a neutral statement, the dollar index (DXY) held near the $105 mark, while Wall Street traded sideways.
Jerome Powell’s 2-day testimony at Capitol Hill begins today, and traders will be closely monitoring his statements for insights into the rate cut schedule.
With earnings growth showing signs of cooling, anticipation mounts for a potential shift in the Federal Reserve's current tightening stance dollar's strength eases
Wall Street saw a notable rally with the Nasdaq and S&P 500 reaching all-time highs, while the Dow Jones lagged.
Recent developments include President Biden's potential re-election reconsideration, Asia-Pacific market highs, PwC's auditing issues in China, potential acquisitions in the energy and retail sectors, geopolitical tensions, and regulatory actions impacting markets. Key impacts include fluctuations in USD, CNY, CAD, TWD, EUR, GBP, and AUD, with significant effects on stock markets across the US, Asia, and Europe.
Recent developments include President Biden's potential re-election reconsideration, Asia-Pacific market highs, PwC's auditing issues in China, potential acquisitions in the energy and retail sectors, geopolitical tensions, and regulatory actions impacting markets. Key impacts include fluctuations in USD, CNY, CAD, TWD, EUR, GBP, and AUD, with significant effects on stock markets across the US, Asia, and Europe.
This week's economic calendar is packed with key events affecting USD, JPY, GBP, EUR, and Gold (XAU). In the USA, watch for Core PCE Price Index, ISM Manufacturing PMI, Initial Jobless Claims, and JOLTs Job Openings. Japan releases the Tankan Large Manufacturers Index and Services PMI. The UK focuses on Manufacturing and Construction PMI, while the Eurozone releases CPI and Services PMI data. Each event's potential impacts on currencies and gold are analyzed for market insights.
the Japanese yen continued to slide against its peers, market strategists predict that the yen could climb above the 170 mark against the dollar
Investors are eagerly anticipating today’s U.S. Personal Consumption Expenditures (PCE) data for further insights into the dollar’s trajectory.
The Japanese Yen plummeted to its weakest level since 1986 at 160.87 against the greenback, the currency pair has lost more than 12% this year
In the commodity market, gold and oil prices edged higher in the last session mainly due to the easing of the dollar.
Japan's top currency official has heightened concerns by stating that Japanese authorities are prepared to intervene in the currency market around the clock if necessary.
the Japanese Yen has traded to its weakest level since April. The disappointing Japan National Core Inflation rate has further weakened the Yen
Attention now turns to the Pound Sterling as the Bank of England’s (BoE) interest rate decision is due later today.
the Japanese yen saw modest gains as the Bank of Japan (BoJ) chief signalled a potential rate hike next month if economic data proves satisfactory.
the U.S. CPI came in lower than market consensus, indicating easing inflation and boosting risk appetite.
The dollar index is poised at its recent high level, while U.S. equity markets eked out marginal gains as the market awaits Wednesday’s crucial CPI reading and the FOMC meeting minutes.
All eyes are on today’s Nonfarm Payroll (NFP) and U.S. unemployment rate data, which could be the final piece of the puzzle for the Federal Reserve's rate cut decision this year.
The dollar tumbled to its lowest level in two months following the disappointing job data, which reinforced bets on a Federal Reserve rate cut.
The U.S. dollar remained on a downward trajectory following the release of yesterday's PMI readings, which fell short of market expectations.