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Wall Street took a pause in the last session, with all three major indexes remaining relatively flat as investors awaited the highly anticipated FOMC meeting minutes.
Former President Obama’s speech at the Democratic National Convention bolstered Kamala Harris's campaign. Walmart plans to sell JD.com shares, ending an 8-year partnership, while Chinese cities slashing new home prices stir market fears. The Fed’s anticipated rate cuts drive aggressive bond trading. In international news, U.S. and Israeli officials work on Gaza ceasefire talks, and Japan’s export growth accelerates, fueled by a weaker yen.
We are very honored to announce that AUS GLOBAL has been invited to the gala event hosted by Donald J. Trump. The event will be held on August 29, 2024 (US time) in the beautiful town of Park City, Utah, USA.
Market Review | August 21, 2024
Market Review | August 21, 2024
USD/JPY holds near 145.50, recovering from 144.95 lows. The Yen strengthens on strong GDP, boosting rate hike expectations for the Bank of Japan. However, gains may be limited by potential US Fed rate cuts in September.
Spot gold continued its record-breaking rally as investors gained confidence that the Federal Reserve might cut interest rates in September and gold ETF purchases improved. The U.S. market hit a record high of $2,531.6 per ounce
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although market expectations for the Bank of Japan to raise interest rates further in the short term have declined, some large investors and asset management companies still bet on the continuation of tightening policies. At the same time, the global financial market is closely watching the policy direction of the Federal Reserve, expecting it to start cutting interest rates in September. Against this backdrop, the trend of the yen exchange rate and Japanese government bond yields will be affect
The global economy is displaying complex regional dynamics. While U.S. retail sales and employment data highlight economic resilience. Meanwhile, geopolitical tensions, such as the Israel-Gaza ceasefire talks, and central banks' divergent strategies add further uncertainty. Investors remain cautious, balancing potential opportunities in emerging markets with risks from global economic shifts.
The Dollar Index (DXY) remains under pressure as dovish comments from multiple Federal Reserve officials suggest the possibility of a rate cut in the near future.
Middle East situation-Blinken said Netanyahu has accepted the latest ceasefire agreement. Hamas responded: "No agreement will be reached unless Hamas' conditions are met and the content of previous UN resolutions is complied with." An end to the war will be bad for crude oil and gold.
Gold prices remain near record highs, driven by expectations of a US interest rate cut and a weakening US Dollar. Investors are focusing on the upcoming Jackson Hole Symposium, where Fed Chair Jerome Powell's speech will be closely watched for clues on the Fed's stance. Additionally, the release of US manufacturing data (PMIs) is expected to influence gold's direction.
Market Review | August 20, 2024
Market Overview | August 20, 2024
Gold (XAU/USD) trades back below $2,500 on Monday as it corrects the gains made after it broke above resistance to a new all-time high on Friday.
Gold prices soared above the $2,500 mark for the first time, driven by expectations of potential interest rate cuts, which have weakened the dollar to its recent low levels. Market participants are now focused on Wednesday’s FOMC meeting minutes for insights into the Fed’s next monetary policy moves.
The strong performance of the gold market in 2024 is not only a response to global economic uncertainty but also a deep understanding of central bank policies and market trends. Gold, as a traditional safe-haven asset, still cannot be ignored in its value and attractiveness in a changing market environment. The rise in prices is not only a reflection of market sentiment but also an expectation of future economic policies and the global economic situation. Investors need to closely monitor the re