After Federal Reserve Chair Jerome Powell’s testimony before the House Financial Services Committee, market observers noted his cautious stance on immediate rate cuts and his persistence in data-driven decision making. Despite signs of disinflation in the US economic outlook, the markets remain confident in a potential rate cut in September. Powell’s reluctance to commit to
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The US Dollar recently saw a slight recovery, with the DXY rising to 105.20, following Federal Reserve Chairman Jerome Powell’s remarks in Congress. Powell’s cautious stance on immediate rate cuts and emphasis on waiting for economic data has instilled confidence in the market for a potential September rate cut. Despite disinflation indicators, there is optimism
In a surprising turn of events, a leftist alliance took the lead in France’s recent election results, preventing Marine Le Pen’s far-right party from dominating the leadership race. Despite this initial shock, the EUR/USD pair continues to rise steadily for the sixth consecutive day, currently trading around 1.0830 during the Asian session on Tuesday. Investors
Last week, the US Dollar experienced a decline of 0.80%, reaching its lowest level since mid-June. The upcoming release of the June inflation figures and Fed talks have created anticipation in the market. It is interesting to note that the market is currently pricing in less than a 10% chance of a rate cut in
The Gold price lost momentum below the $2,400 barrier on Monday as the People’s Bank of China (PBoC) put a hold on Gold buying for the second month in June. This decision, made by the Chinese central bank, has significant implications for the Gold market, especially since China is the world’s biggest bullion consumer. The
The EUR/GBP cross pair is currently trading with a mild bearish bias around 0.8475 in the early European session, following the news that the UK’s Labour Party has won 337 seats in the parliamentary election. This outcome implies that the party now holds a majority in the House of Commons, which has potential implications for
Gold prices have seen a positive rebound recently, mostly due to the weakening US Dollar and expectations of a September rate cut by the Federal Reserve. The current risk-on sentiment in the market, as demonstrated by the bullish equity markets globally, may put a cap on gold’s gains. Traders are eagerly waiting for the US
The recent exit poll suggesting a major victory for UK’s Labour Party, led by Keir Starmer, in the upcoming 2024 UK election has sent shockwaves through the political landscape. With projections indicating that Labour is on course to win about 410 seats in the 650-seat House of Commons, while the Conservatives are projected to win
The US markets were closed recently as the country celebrated its journey towards independence, commemorating its freedom from rule by a monarch. This historical event showcases the importance of democracy and independence in the country’s foundation. However, despite such a significant occasion, there has been speculation in the media regarding US President Biden’s potential candidacy
The EUR/JPY cross has been gaining momentum recently, reaching around 173.80 during Wednesday’s European session. This represents a 0.20% increase on the day, indicating positive movement in the exchange rate. The weakening of the Japanese Yen can be attributed to the latest data showing that Japanese business activity turned contractionary in June. This has put
Federal Reserve (Fed) Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde recently shared their insights on the monetary policy outlook at the ECB Forum on Central Banking in Sintra. They highlighted key points such as the stickiness of services inflation, the cooling off of the labor market, and the expectation for inflation
The gold price has been oscillating in a narrow trading band recently, influenced by mixed fundamental cues. With rising bets for a September Fed rate cut, the US Dollar has been under pressure, thereby lending some support to the precious metal. However, the uncertainty surrounding the timing and extent of the rate cuts has left