Monthly Archives: June 2024
Dollar Gain on Hawkish Fed Prospect
Written on June 10, 2024 at 5:44 am, by
Market Summary Yesterday’s US data release surprised markets, with upbeat PMI readings exceeding expectations. The S&P Composite PMI reached a two-year high, while Initial Jobless Claims fell short of forecasts. This robust economic performance dampened hopes for a Fed rate cut this year, leading to a sharp selloff across both equities and fixed income markets.Continue Reading
Dollar Surge on Hawkish FOMC Meeting Minutes
Written on June 10, 2024 at 5:44 am, by
Market Summary The U.S. dollar has strengthened, with the Dollar Index (DXY) climbing to its highest level this week, fueled by hawkish FOMC meeting minutes released in the last session. The minutes revealed that some members doubted whether the current interest rate level is sufficient to bring inflation down to the 2% target, leading toContinue Reading
Dollar Dilemma: FOMC Caution
Written on June 10, 2024 at 5:43 am, by
Market Summary The US Dollar remained subdued as investors awaited the FOMC meeting minutes, with Federal Reserve officials emphasising the need for more evidence of easing inflation before considering rate cuts. This cautious stance has kept the dollar in check, influencing other markets as well. Gold prices stayed flat but slightly retreated due to theContinue Reading
