Gold prices have recently rebounded after a post-CPI selloff that initially pushed the precious metal down to around $2438/oz. This movement was somewhat unexpected, especially considering that US CPI figures were below expectations. The market reaction to the data led to a reduction in rate cut expectations, which may have contributed to the dip in
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The recent performance of the Nasdaq 100 has left investors on edge, with the benchmark US stock index recording a monthly loss of -1.6% in July. This marked it as the worst-performing among its peers like the S&P 500, Dow Jones Industrial Average, and Russell 2000. The global risk-off behavior that unfolded over the past
The AUD/JPY cross has gained momentum near 97.55 in Thursday’s Asian session, showing an increase of 0.36% on the day. The improvement in Chinese July Retail Sales has provided a boost to the Australian Dollar (AUD), while uncertainty surrounding the Bank of Japan (BoJ) rate hike could potentially weigh on the Japanese Yen (JPY). Chinese
The recent US CPI Report has sparked discussions among experts regarding the Fed rate path and its implications on the forex market. According to Arch Capital Global Chief Economist Parker Ross, core services inflation saw a notable increase in July, catching the attention of the Federal Reserve. The CPI Report has shifted the focus towards
In the current financial landscape, Asian stocks are holding firm, showcasing resilience amidst global economic uncertainties. The dollar, on the other hand, is struggling with lower U.S. Treasury yields, signaling potential interest rate cuts by the Federal Reserve in the near future. Regional equities, particularly in Japan and Australia, have been showing positive signs with
The Greenback, represented by the USD Index (DXY), faced continued selling pressure in the market as US inflation data pointed towards a downward trend in July’s CPI numbers. This led to the USD Index dropping to multi-day lows near 102.30, highlighting the persisting disinflationary pressures in the US economy. Looking ahead to August 15, a
The AUD/USD and NZD/USD technical analysis provided in the article offer insights into the current trends and potential future movements of these currency pairs. However, upon closer examination, it is evident that the analysis is heavily focused on technical indicators and fails to consider broader market dynamics that could impact the price action of the
UBS CEO Sergio Ermotti recently made some predictions about the future of market volatility. He mentioned that while there could be an intensification of market volatility in the second half of the year, he does not believe that the U.S. is heading into a recession. This statement comes after global equities experienced sharp sell-offs due
Commonwealth Bank of Australia, the largest lender in the country, recently announced its annual cash profit for the year ending June 30. Surprisingly, the cash profit of A$9.84 billion exceeded expectations, although it was slightly lower than the previous year’s record of A$10.16 billion. Additionally, the bank declared its highest-ever dividend of A$2.50 per share,
The recent unexpected decision by the Bank of Japan to raise interest rates to around 0.25% has sent shockwaves through global markets. This move, combined with the announcement of a cut to Japanese Government Bond purchases, has raised concerns about the future of the Yen carry trade and its implications for the USD/JPY exchange rate.
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The gold price has experienced a significant surge in recent trading sessions, with the price per ounce nearing $2,460 today. This marks a notable increase from the $2,385 level observed on the 8th of August. The bullish momentum driving this upswing can largely be attributed to escalating geopolitical tensions in various regions around the world.