ING’s chief international economist James Knightley spoke with news wire Dow Jones / Market Watch: Powell is likely to highlight that inflation is moving in the right direction Giving the Fed more confidence that it will reach its 2% target Powell might signal that the slowdown in inflation allows the central bank to focus more on its other mandate,…
Gold price drifts higher to $2,505 in Monday’s early Asian session. The recent US Housing Starts added to concerns over the economy’s strength and triggered the expectation of Fed rate cuts. Escalating geopolitical tensions boosts the safe-haven asset like Gold. Gold price (XAU/USD) gains momentum around $2,505 during the early Asian session on Monday amid hopes of the US…
BNZ – BusinessNZ Performance of Services Index for June 2024, via BusiznessNZ, comes in at 44.6 prior 40.7 (revised a touch higher) The report, in summary: Activity in New Zealand’s services sector for July showed some improvement after a horrendous June result 44.6 is the highest result since May has averaged 46.5 so far for 2024, compared with 53.2…
The NASDAQ 100 (NDX), SP500 (SPX), and major tech stocks like Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), and Bitcoin (BTC) are firmly in a bullish cycle, currently in wave (1) of 5. As markets progress through wave (1), we’ve surpassed the midpoint, reaching wave (iv) of iii) of…
Federal Reserve Bank of Chicago President Austan Goolsbee spoke in an interview with CBS’ Face the Nation on Sunday: US credit conditions are tight and are getting tighter no certainty the Fed will cut interest rates next month, but not doing so could damage the labour market “When you set a rate high like we have and hold it…
Australia CFTC AUD NC Net Positions: $-42.6K vs previous $-40.2K
On the day: Stoxx 600 +0.3% German DAX +0.8% Francis CAC +0.4% UK’s FTSE 100 -0.4% Spain’s Ibex +0.6% Italy’s FTSE MIB +2.0% Italy posted some strong outperformance today while the UK struggled. On the week: Stoxx 600 +2.4% German DAX +3.4% Francis CAC +2.7% UK’s FTSE 100 +5.0% Spain’s Ibex +2.9% Italy’s FTSE MIB +4.0% The STOXX 600…
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This week our currency strategists were focusing on another round of employment situation updates, this time from Australia and the U.K, as potential drivers for short-term opportunities. Out of the four scenario/price outlook discussions this week, only one discussion arguably saw both fundie & technical arguments triggered to become a potential candidate for a trade & risk management overlay. …
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