Monthly Archives: May 2024
Dollar Hammers By Dovish Powell Statement
Written on May 9, 2024 at 5:43 am, by
Market Summary The financial markets were roiled by Jerome Powell’s remarks following the Fed’s interest rate decision announcement. Powell’s dovish stance prompted a sharp decline in the strength of the U.S. dollar, while gold prices rebounded on the prospect of a softer dollar. Despite ongoing signs of inflationary pressures in the U.S, Powell indicated thatContinue Reading
Dollar Strengthens On Strong U.S. Wage Data
Written on May 9, 2024 at 5:40 am, by
Market Summary The U.S. dollar surged and equities stumbled following the release of the U.S. employment cost index, which revealed a robust 1.2% increase, the sharpest uptick in a year. This data underscores the tightness of the U.S. job market and raises concerns about potential inflationary pressures. Investors are eagerly anticipating the Federal Open MarketContinue Reading
Japanese Yen Fluctuation Eases after Rumour Clear
Written on May 9, 2024 at 5:35 am, by
Market Summary The Japanese Yen experienced a significant fluctuation, moving more than 500 pips against the U.S. dollar in the last trading session. This volatility was driven by market speculation regarding potential intervention by Japanese authorities after the Yen surpassed the 160 mark against the dollar. Meanwhile, market participants are also focusing on the upcomingContinue Reading
