A Recap of Financial Markets, Exchange Rates, and Key Developments
We are glad to announce that the US stock 'JNJ' (Johnson & Johnson) has finalized the separation of Kenvue and will reopen for trading starting today.
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US service industry data is stronger than expected, reinforcing speculation that the Federal Reserve will maintain higher interest rates for a longer period of time
WCG Markets:2023-09-07
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
On Tuesday (September 5), the Fed Governor Waller said, in view of the recent data show that inflation continues to slow, policymakers have room to burden "cautiously advance" interest rate hike action. Waller's speech made gold prices dropped from high.
On Tuesday, Fed officials were hawkish again, with Waller warning markets not to rush to the conclusion that the Fed is done raising rates. The dollar index rose on news, briefly pushing the 105 mark, before closing up 0.64% at 104.81.
Investors bet that maintaining resilience in the US economy means interest rates need to remain high On Tuesday, the US dollar index rose to a high in over five and a half months
Directional Views and Trade Recommendations for EUR/USD, GBP/USD, USD/JPY, and More
At the onset of the New York trading session, Silver's (XAG/USD) price encountered significant buying interest around $23.50.
Gold prices continue to be steady due to the constant value of the dollar and bond rates. Further signals from the Federal Reserve are currently awaited.
The current steadfastness in AUDUSD witnessed a dramatic conclusion in the recent trading session.
During the session on Monday, the EUR/JPY cross increased, making its way towards the 158.15 area, with nearly 0.35% daily gains recorded. The Euro is performing strong against the majority of its competitors, while the JPY is one of the weakest performers in the session. This is largely influenced by the ultra-dovish position of the Bank of Japan (BoJ).
In the previous week, a variety of macroeconomic indicators provoked interest among investors. This is due to their anticipation of the termination of the Federal Reserve's (FED) policy tightening, possibly suspending rate hikes come September, and the potential for rate reductions before the year's conclusion.
This week, increased attention was placed on the data emerging from Australia and China, contributing to the advancements experienced by Asian shares.
WCG Markets:2023-09-06
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
The processing fees for US liquefied natural gas (LNG) projects have increased due to the rise in interest rates.
Japan stocks were higher after the close on Thursday, as gains in the Precision Instruments, Shipbuilding, and Banking sectors led shares higher.