Investors will be closely monitoring Fed Chair Powell’s testimony before the Senate Banking Committee this week. Powell’s comments at the March testimony highlighted the bumpy path back to the Fed’s 2.0% inflation target and the possibility of dialling back on policy this year. However, he stressed the need for confidence in the disinflation process. Markets
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The Australian economy is under scrutiny, especially with the recent hotter-than-expected monthly CPI indicator. This has led to speculation about a potential rate hike by the Reserve Bank of Australia (RBA) in September. However, experts remain divided on the matter, with some predicting a rate cut instead. This uncertainty has created a challenging environment for
Thailand’s automotive landscape is shifting, with electric vehicles (EVs) taking the lead as the future of transportation. Chinese automaker BYD has recognized the potential of this market and is making strategic moves to solidify its position in Thailand. BYD’s decision to acquire a 20% stake in Rever Automotive, its local distributor, showcases its commitment to
The upcoming U.S. presidential election has sparked fluctuations in bond yields as investors brace themselves for potential outcomes. President Joe Biden’s performance in the initial debate against rival Donald Trump caused yields to rise significantly, signaling a shift in market sentiment. The prospect of another term for Trump has led some investors to anticipate higher
In Friday’s early European session, the EUR/GBP cross was trading with a mild bearish bias around 0.8475. The main reason for this was the victory of the Labour Party in the parliamentary election, securing 337 seats and gaining a majority in the House of Commons. This outcome has generated optimism among investors, as Keir Starmer’s
The U.S. job market is expected to have experienced slower growth in June, with the unemployment rate holding steady at 4%. While the economy continues to expand, the pace of job creation is likely to have cooled off. This slowdown in job growth may indicate that the Federal Reserve will be able to control inflation
The recent merger of Fetch.ai, Ocean Protocol, and SingularityNET under the FET ticker has caused a stir in the cryptocurrency market. Rather than introducing a new token, these projects have decided to join forces, streamlining operations and enhancing collaborative capabilities. However, the price action of FET has not been immune to the overall downtrend in
Recently, the gold price has experienced positive traction and has climbed back closer to a two-week top. There are several influencing factors contributing to this movement. One of the key factors is the weakening US Dollar, which has been on a downward trend for the fourth consecutive day. This depreciation of the USD is attributed
The recent uptrend in the USD/JPY pair led to a new multi-year high at 161.95, but a correction lower has been observed. The pair traded below a key bullish trend line with support at 161.50 on the 4-hour chart, indicating a potential shift in momentum. The downward correction found immediate support near the 160.65 level
The recent data on labor market indicators presents a concerning picture, signaling a potential weakening in the labor market. This could have significant implications for both wage growth and disposable income. The ANZ-Indeed Job Ads index, which experienced a 2.2% decline in June following a 1.9% drop in May, suggests a slowdown in hiring activity.
The UK’s Labour Party, under the leadership of Keir Starmer, is projected to secure a significant majority in the upcoming 2024 election, according to an exit poll. This forecast suggests that Labour could potentially claim around 410 seats in the 650-seat House of Commons, while the Conservatives are estimated to only secure 131 seats. This
After reaching a high near the 0.6735 zone, AUD/USD has started to correct gains against the US Dollar. The pair is currently facing a downside correction, showing signs of weakening momentum. This correction is evident on the hourly chart of AUD/USD at FXOpen, where a key bullish trend line is forming with support at 0.6700.