Monthly Archives: July 2024
Powell’s Dovish Tone Hammers Dollar
Written on July 3, 2024 at 6:35 am, by
Market Summary Federal Reserve Chair Jerome Powell indicated that recent U.S. economic data suggest inflation is returning to a downward trajectory. However, he emphasised the need for more evidence before the Fed considers shifting its current monetary policy. Consequently, the dollar eased from its recent highs, while U.S. equity markets, buoyed by the dovish tone,Continue Reading
Yen Continues to Slides on Soft Economy Performance
Written on July 3, 2024 at 6:34 am, by
Market Summary The U.S. dollar regained strength after a technical retracement earlier in the session. The recent presidential debate over the weekend had a spillover effect on the financial market, with sentiment shifting in favour of Donald Trump’s re-election prospects. This political development, combined with Wall Street strategists advising clients to brace for persistent inflationContinue Reading
Euro Jumps After Legislative Vote Held
Written on July 3, 2024 at 6:34 am, by
Market Summary The dollar’s recent strength was tempered by last Friday’s Personal Consumption Expenditures (PCE) reading, which aligned with market expectations. The mixed results of recent U.S. economic indicators have cast uncertainty over the Federal Reserve’s upcoming monetary policy moves, although part of the market remains optimistic about an October rate cut. The euro surgedContinue Reading
