Monthly Archives: June 2024
Soft PCE Boost Equity Market
Written on June 10, 2024 at 5:53 am, by
* Soft PCE reading hammered the dollar’s strength and improved stock market performance. * Eye on today’s U.K. and U.S. PMI readings. * Oil prices are expected to be hindered by the outcome of the OPEC meeting. Market Summary The highly anticipated U.S. PCE, the Fed’s preferred inflation gauge, met market expectations when released lastContinue Reading
All Eye On Today’s PCE Reading
Written on June 10, 2024 at 5:51 am, by
Market Summary The U.S. dollar failed to sustain its gains following the release of U.S. GDP data that fell short of expectations, coupled with Initial Jobless Claims that exceeded market forecasts. This has prompted a slight shift in market sentiment away from the expectation of a more hawkish Federal Reserve stance. All attention now turnsContinue Reading
Dollar Fuels By Strong Treasury Yield
Written on June 10, 2024 at 5:50 am, by
Market Summary The U.S. 7-year note auction held yesterday saw tepid demand for long-term Treasury yields, resulting in a decline in bond prices and pushing bond yields higher. This development, combined with market perception that the Federal Reserve is not planning to initiate a rate cut policy soon, fueled risk-averse sentiment and hammered equity markets.Continue Reading
