Yearly Archives: 2024
Yen Drop on Japan FX Officials Comment
Written on May 9, 2024 at 5:51 am, by
Market Summary The U.S. equity market continued its upward trajectory, buoyed by growing optimism surrounding potential interest rate cuts by the Federal Reserve later this year, following the release of softer-than-expected nonfarm payroll data last Friday, indicating a slowdown in economic performance. Japan’s Nikkei 225 index surged over 1% this morning upon returning from Monday’sContinue Reading
Soft NFP Spurs Stock Market
Written on May 9, 2024 at 5:47 am, by
Market Summary Last Friday saw a notable weakening in the dollar, with the dollar index (DXY) declining to its monthly low following the underwhelming U.S. Non-Farm Payroll (NFP) report, which significantly missed market expectations. This soft job data has fueled market speculation about a possible interest rate reduction by the Federal Reserve in the thirdContinue Reading
Dollar Hammers By Dovish Powell Statement
Written on May 9, 2024 at 5:43 am, by
Market Summary The financial markets were roiled by Jerome Powell’s remarks following the Fed’s interest rate decision announcement. Powell’s dovish stance prompted a sharp decline in the strength of the U.S. dollar, while gold prices rebounded on the prospect of a softer dollar. Despite ongoing signs of inflationary pressures in the U.S, Powell indicated thatContinue Reading
