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
Market Review | August 7, 2024
Market Review | August 7, 2024
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.
Market Review | August 7, 2024
Market Review | Aug 7, 2024
GTCFX Prepares for Money Expo India 2024
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As the global market experiences intense fluctuations, investors should remain calm, focus on the fundamentals of the economy and policy trends, and prudently assess their own risk tolerance to find opportunities and avoid risks amidst market uncertainty. As pointed out by Federal Reserve officials, despite signs of slowing down, the job market remains solid, indicating that the economy has inherent resilience and recovery power. Let us step forward steadily to meet every possibility of the futu
Gold prices have been highly volatile, trading near record highs due to various economic and geopolitical factors. Last week's weak US employment data, with only 114,000 jobs added and an unexpected rise in the unemployment rate to 4.3%, has increased the likelihood of the Federal Reserve implementing rate cuts, boosting gold's appeal. Tensions in the Middle East further support gold as a safe-haven asset. Technical analysis suggests that gold prices might break above $2,477, potentially reachin
The financial markets, especially the equity sector, continue to be shattered by recession fears. The U.S. equity fear index, VIX, spiked to 65.70—the highest level since the pandemic in 2020
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Market Review | August 6, 2024
Global Market Insights: Key Developments and Their Impact
The USD/JPY pair has rebounded to around 145.40 after dropping to its lowest level since January at 141.68, amid early Asian trading. The US Dollar's decline was driven by recession fears and expectations of significant Federal Reserve rate cuts. The rise in the US Unemployment Rate in July has heightened concerns about a recession, leading markets to anticipate rate cuts of 50 basis points in September and November, and an additional 25 basis points in December.
Market Review | August 6, 2024
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Last Friday (August 2), due to poor non farm payroll data directly igniting market expectations for a 50 basis point rate cut by the Federal Reserve in September