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Market Review | July 29, 2024
Nick Timiraos, the spokesperson for the Federal Reserve, stated that although Fed officials are unlikely to cut interest rates in July
The U.S. economic policy has always been a focal point in the global economic arena. Recently, the firm stance of U.S. Treasury Secretary Janet Yellen, the critical voice of former President Donald Trump, and market expectations for the Federal Reserve's monetary policy have painted a complex picture of economic policy.
This week's key economic events include German retail sales, M3 money supply in South Africa, retail sales in Switzerland, and key rate decisions from the Federal Reserve and the Bank of England. The U.S. will also release its Nonfarm Payrolls, unemployment rate, and ISM Manufacturing PMI. These events are crucial for gauging economic health and guiding currency valuations.
The PCE came in line with market expectations at 2.5%, suggesting that inflationary pressure in the country is moving toward the targeted 2% rate and heightening the likelihood of a September Fed rate cut speculated in the market.
Investors are closely monitoring global monetary policy as central banks in Tokyo, Washington, and London prepare for key meetings. These decisions could create significant market volatility. Meanwhile, Apple delays its AI features for iPhone and iPad, impacting its stock. Other news highlights include trade surges in Vietnam, geopolitical tensions in the Middle East, and potent
The highly anticipated Fintech Night 2024 in Hong Kong recently concluded with resounding success. Among the distinguished attendees was CWG Markets
The USD/JPY pair rises to 154.35 during the Asian session as the Yen strengthens against the Dollar for the fourth consecutive session, nearing a 12-week high. This is due to traders unwinding carry trades ahead of the Bank of Japan's expected rate hike and bond purchase tapering. Recent strong US PMI data supports the Federal Reserve's restrictive policy. Investors await US GDP and PCE inflation data, indicating potential volatility ahead of key central bank events.
The Asia-Pacific market sentiment has worsened, and the yen has risen for the fourth consecutive day in safe-haven sentiment and rate hike expectations, significantly impacting the Japanese stock market and global assets. Although the market generally expects the Bank of Japan to raise interest rates, the uncertainty of the final decision and the Federal Reserve's interest rate cut signal will have a key impact on the yen's trend. Investors need to closely monitor policy trends, flexibly adjust
On Thursday (July 25th), as the market awaited the release of PCE data for June in the United States
Wall Street continues to face downside risks, with the Nasdaq and S&P 500 sliding in yesterday's session while the Dow Jones eked out a marginal gain.
The U.S. Conference Board reported a slight decline in the US Consumer Confidence Index (CCI) for June 2024, dropping to 100.4 from 101.3 in May. The Bank of Japan (BoJ) opted to keep its key short-term interest rate steady at 0.10% for June 2024, in line with market expectations. At its June 2024 meeting, the Federal Reserve decided to keep the federal funds rate unchanged at 5.50%. In June 2024, the Bank of England (BoE) decided to keep the interest rate at 5.25% unchanged. This decision...
Market Review | July 26, 2024
Market Review | July 26, 2024
Gold prices are holding above $2,350 in early Asian trading despite a recent dip to two-week lows. This stability follows stronger-than-expected Q2 2024 US GDP, which raised doubts about the Federal Reserve's rate cut plans. Core PCE inflation moderated to 2.9%, and jobless claims declined. Markets still anticipate a Fed rate cut in September due to ongoing disinflation. Gold initially fell on the GDP data but recovered with the softer core PCE reading.
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It can be seen that the current financial market is full of uncertainty. On the one hand, investors are highly concerned about the Federal Reserve's interest rate cut expectations and policy changes, and on the other hand, concerns about the prospects of artificial intelligence technology and investment returns are also affecting the performance of the stock market. These factors work together to form a complex and changeable market environment, and investors need to make decisions more cautious
The U.S. equity market experienced one of its worst trading days this year, with the Nasdaq leading the decline, plunging more than 700 points in the last session. Investor concerns over the AI sector surged following Tesla's earnings miss and Google's higher-than-expected spending, both of which saw sharp declines.
The global market reacts to various developments, including Tesla's profit miss, China's interest rate cut, Bernard Arnault's net worth decline, and typhoon Gaemi's impact. The Mt. Gox compensation, Lineage Inc.'s IPO, and Netanyahu's speech in the US Congress also influence market dynamics. European banks' mixed performance, Canada's rate cut, and Russia's sanction issues add to the market fluctuations, along with South Korea's GDP contraction and stable oil prices.
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