Monthly Archives: July 2024
All Eye On Powell’s Testimony
Written on July 18, 2024 at 5:48 am, by
Market Summary Jerome Powell’s 2-day testimony at Capitol Hill begins today, and traders will be closely monitoring his statements for insights into the rate cut schedule. With the U.S. presidential election approaching, it is believed that the Fed will maintain its independence and possibly delay any rate cut policy until after the election. The dollarContinue Reading
Dollar Weaken On High Unemployment Rate
Written on July 18, 2024 at 5:45 am, by
Market Summary Last Friday’s U.S. employment report delivered a mixed bag of results: Nonfarm Payrolls (NFP) surpassed expectations at 206,000 new jobs added, yet the unemployment rate climbed to 4.1%, its highest since 2021. The Dollar Index (DXY) initially fluctuated on the news but ultimately trended lower as markets absorbed the data. With earnings growthContinue Reading
All Eye on Today’s NFP
Written on July 18, 2024 at 5:38 am, by
Market Summary The UK general election 2024 was held on Thursday, and while the results are yet to be finalized, the Labour Party is poised to win a majority, ending the Conservatives’ 14-year rule. The UK’s equity market index, FTSE 100, edged higher in the last session, while the Pound Sterling remained steady. The LabourContinue Reading
