The price of gold is currently struggling to gain traction as the US Dollar strengthens, driven by reduced expectations of a 50 basis points Fed rate cut. This has limited the downside for gold prices while traders monitor US inflation numbers for further direction. Despite the technical setup supporting the potential for a breakout from
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EUR/CHF has been closely correlated with the France CAC and Germany DAX, showing a strong positive relationship. This correlation has been maintained even in the face of economic challenges posed by sluggish consumer demand in China. The 60-period rolling correlation coefficients between EUR/CHF and the two European indices have remained high, indicating a synchronized movement
The looming decision by the U.S. Federal Reserve to conduct a significant rate cut has sparked a great deal of speculation and debate among analysts. There are divided opinions regarding whether a jumbo 50 basis point rate reduction is warranted at the upcoming meeting. Michael Yoshikami, CEO of Destination Wealth Management, has suggested that a
The futures tied to Wall Street’s main indexes have shown signs of recovery after experiencing heavy losses last week. Investors are feeling optimistic about the possibility of a soft landing for the U.S. economy, especially with a crucial inflation report scheduled for later in the week. This optimism is reflected in the premarket trading activity,
Recent data from a survey of recruiters in the UK revealed a noticeable cooling in the labour market. Permanent job placements saw a sharp decline, marking the fastest pace drop in five months. Additionally, starting pay growth for permanent staff also slowed to a five-month low, indicating one of the weakest readings since early 2021.
Upon closer examination of recent market trends, it is evident that the buying squeeze that was anticipated turned out to be short-lived. Despite initial indications that NFPs weren’t weak, the rate cut odds remained relatively low at only 30%. Even with the possibility of a 50bp cut in September, the actual odds did not increase
The latest Reuters poll reveals that economists are predicting a slight decrease in headline Year-over-Year (YoY) inflation, with estimates pointing to a +2.6% rate, down from +2.9% in July. On the other hand, core inflation, which excludes energy and food components, is expected to remain steady at +3.2%. This marks a continuation of the trend
France has found itself in a precarious financial situation, with the need to reduce its public deficit looming large. The country’s budget deficit could potentially increase unexpectedly this year and the next if additional savings are not identified. This puts France in a challenging position as it struggles to navigate a deepening political crisis. In
Egypt’s inflation forecast has been a topic of interest, with expectations of a decrease for the sixth consecutive month in August. This decline has been attributed to a favourable base effect. However, analysts warn that there is a possibility of an increase month on month due to a series of government-led price hikes. These hikes
The recent US Jobs Report showed an increase of 142k jobs, which may have an impact on the USD/JPY pairing. However, the focus will likely shift to other economic indicators to determine the direction of the currency pair. The upcoming Michigan Consumer Sentiment Index is expected to show a slight increase from August to September.
Janet Yellen, the current U.S. Treasury Secretary, hinted at her retirement plans during the Texas Tribune Festival in Austin, Texas. When asked whether she would continue serving in her role after President Joe Biden’s term ends in January, Yellen responded by saying she is “probably done.” This statement suggests that Yellen may not be seeking