Has the Federal Reserve's 50 basis point rate cut in September come to nothing? Gold surged nearly $50 from its intraday low!
The number of initial jobless claims in the United States for the week ending August 3 was 233,000, lower than the expected 240,000, the largest drop in nearly a year, easing market concerns about a recession in the United States. Traders cut their expectations for a 50 basis point rate cut by the Federal Reserve in September, bullish for the U.S. economy and the dollar.
Fed Pressured: Will CPI Data Fuels Calls for Rate Cuts？
The U.S Producer Price Index (PPI) for June showed a month-over-month increase of 0.2%, which was slightly above market expectations of 0.1%. The Reserve Bank of New Zealand (RBNZ) recently kept its Official Cash Rate (OCR) unchanged at 5.50% during its last meeting on July 2024, which was consistent with market expectations. As of June 2024, the U.S. Consumer Price Index (CPI) showed a modest increase of 3.0% year-over-year, weaker than market expectation and previous reading of 3.1% and 3.3%..
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【MACRO Alert】OPEC+ Faces the Test of Oil Price Stability, Seasonal Factors and Supply Considerations Will Determine Future Direction
After abandoning the $100 oil price target, OPEC+ faces the market's test to maintain the bottom line of $75. Although global demand continues to grow, oversupply and seasonal demand decline may lead to price pressure. In addition, the seasonal decline in demand and the planned increase in production may lead to oversupply in the market, threatening the stability of oil prices. At the same time, the U.S. EIA report shows a significant reduction in crude oil inventories, and potential demand grow
Oil Prices Surge on Libya Oil Production Close-down
In the oil market, prices recorded their biggest gain in August following a production halt at Libya’s biggest oil field, which produces nearly 270,000 barrels of oil per day.
Global Market Volatility and Strategic Moves by Major Economies and Companies
Global markets face volatility with significant declines in US and Asian stocks due to central bank rate decisions and economic uncertainties. JPMorgan's recession forecast, and Cathie Wood's tech stock acquisitions. Additionally, geopolitical tensions, market shifts in New York and Thailand, and rising energy prices in Europe highlight the diverse factors influencing the global financial landscape.
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Hot Economic Data Day
Market Review | August 8, 2024
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OnEquity Secures FSCA License, Reinforcing Client Protection
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The Bank of Japan turns dovish again; the yen takes a short-term dive!
The Bank of Japan turned dovish again, and some factors have made the central bank more cautious about raising interest rates. Deputy Governor Shinichi Uchida said that interest rates would not be raised when the market is unstable, which calmed the market and the yen fell under pressure.
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【MACRO Insight】Rebound After Market Turmoil - The Bank of Japan's Interest Rate Hike and the Global Financial Market's Chain Reaction
After the sharp decline in the stock market on Monday, the global market has rebounded, but this turbulence has also brought challenges to central bank decision-making. The Bank of Japan's decision to raise interest rates has sparked extensive discussions among the market and analysts, and the Federal Reserve's interest rate policy is also closely watched. Despite market uncertainties, most analysts and central bank officials, including former European Central Bank President Trichet, believe tha
Japanese Yen Eases on BoJ Dovish Statement
The Japanese Yen eased on Wednesday morning after the BoJ Deputy Governor indicated that the Japanese central bank would not raise interest rates if global markets remained unstable. This statement has calmed the market and unwound concerns about Yen carry trades. Meanwhile, the dollar has regained strength, with the dollar index (DXY) climbing above the $103 mark.
Global Economic and Political Events Shaping Markets
The past week has seen significant economic developments influencing the financial markets. The US stock market faced a sharp decline, resulting in a $6.4 trillion loss in market value, while hedge funds engaged in substantial buying activity. Meanwhile, Goldman Sachs CEO David Solomon expressed confidence in the US economy, suggesting no need for emergency measures. Other notable events include geopolitical tensions, financial instability in firms like Prospect Capital, and changes in global ec
Today's Economic Spotlight
Market Review | August 7, 2024
Today's Financial Forecast
Market Review | August 7, 2024
KVB Market Analysis | 7 August: AUD/USD Recovers Above 0.6500 Amidst RBA Hawkish Hold and Commodity Price Gains
Following fresh 2024 lows near 0.6350, AUD/USD bounced back above 0.6500 on Tuesday, returning to positive weekly territory. The pair remains focused on the 200-day SMA at 0.6592, with a negative bias expected below this level. The recovery was supported by rising copper and iron ore prices and a hawkish hold from the RBA.
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