Monthly Archives: August 2024
41654156156Sterling Ease On BoE Rate Cut
Written on August 2, 2024 at 5:19 am, by jonywang
Market Summary The spotlight was on the Bank of England (BoE) yesterday as the market awaited its interest rate decision. The BoE’s decision to cut rates by 25 basis points came in line with market consensus, leading to a decline in the Pound Sterling, which trailed to a one-month low against the dollar. In contrast,Continue Reading
GBP/USD Under Pressure Amid BoE Dovishness and Rising Market Volatility
Written on August 2, 2024 at 2:09 am, by jonywang
Fundamental Analysis * Dovish Statements from Fed and Risk-Off Sentiment: The Pound Sterling experienced significant bearish momentum following the Bank of England’s decision to cut interest rates by 25 basis points, down to 5.00%. Meanwhile, market volatility is rising ahead of the release of crucial Nonfarm Payrolls and Unemployment rate data, alongside escalating Middle EastContinue Reading
Dovish Fed’s Statement Hammers Dollar
Written on August 1, 2024 at 5:31 am, by jonywang
Market Summary The highly anticipated Fed’s interest rate decision was disclosed yesterday, hammering the dollar’s strength lower as Fed Chief Jerome Powell explicitly signalled that a September rate cut is possible. The U.S. central bank is balancing both inflation and recession risks, with interest rates adjusted to curb inflation while maintaining a solid labour market.Continue Reading
