Monthly Archives: August 2024
Dovish Fed’s Statement Hammers Dollar
Written on August 2, 2024 at 5:11 am, by
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
Nasdaq Plummet Ahead Of Fed’s Interest Rate Decision
Written on August 1, 2024 at 1:21 am, by
Market Summary The Japanese Yen strengthened ahead of the BoJ’s interest rate decision, with part of the market anticipating a monetary tightening policy from the Japanese central bank due to sustainable inflation and wage growth in the country. If the BoJ raises rates by 10 bps, as expected, the Yen could strengthen further. On theContinue Reading
Dollar Poise Ahead of FOMC Meeting Minutes
Written on August 1, 2024 at 1:18 am, by
Market Summary The financial market remained relatively quiet in the last session ahead of crucial central bank interest rate decisions, including those from the Fed and BoJ, which are due tomorrow. The dollar index (DXY) managed to break above its near-term resistance level at 104.50, which has been a barrier for the past two weeks,Continue Reading
