Monthly Archives: July 2024
41654156156Dollar Dip on Dovish Fed’s Beige Book
Written on July 18, 2024 at 5:17 am, by jonywang
Market Summary The dollar continues to tumble, trading at its lowest level since April, below the $104 mark. The U.S. Beige Book suggests economic growth has moderated and inflation shows signs of easing, strengthening the likelihood of a September rate cut. Improved risk appetite in the market propelled the Dow Jones up nearly 300 pointsContinue Reading
Kiwi Slips Amid Weak NZ CPI, Increasing Rate Cut Bet
Written on July 18, 2024 at 2:20 am, by jonywang
Fundamental Analysis * CPI Drag: The New Zealand dollar weakened against the US dollar following the release of weaker-than-expected New Zealand CPI data, increasing speculation about a potential rate cut from the RBNZ. Government data revealed that the CPI rose 3.3% year-on-year for the three months ending June 30, below the expected 3.5% and downContinue Reading
Wall Street Rallies On Powell’s Dovish Tone
Written on July 17, 2024 at 5:05 am, by jonywang
Market Summary The U.S. equity market continued its rally in yesterday’s session, with the Dow Jones approaching its all-time high near the 41,000 mark. The Russell 2000 (US2000) small-cap index surged more than 10% since last Thursday, suggesting that strategists have been rotating their exposure to small-cap counters, which are more sensitive to interest rateContinue Reading
