Interest futures recovered slightly after falling on Thursday as US data showed a resilient economy, further reducing the risk of a recession. At the same time, the likelihood of a 50 basis points Fed rate cut in September fell. A stable economy means the US central bank can gradually lower borrowing costs. US GDP (Source: Read More…
Oil prices recovered slightly on Tuesday after falling 1% in the previous session due to a disappointing inventories report. However, the potential loss of Libyan oil output and Middle East tensions kept a floor on price declines. Data on Wednesday revealed a smaller-than-expected drop in US crude stocks last week. Inventories fell by 846,000 barrels, Read More…
Gold prices ended flat on Tuesday and fell on Wednesday as the dollar rose ahead of more US inflation data. The US will release its core PCE report on Friday, giving guidance on the size of upcoming Fed rate cuts. Gold prices rallied on Friday and Monday due to rate cut optimism. Notably, Powell opened Read More…
Equities ended lower on Monday as Nvidia fell ahead of its earnings report. However, rate-cut optimism lingered after Powell’s dovish speech on Friday. Meanwhile, investors were gearing up for the core PCE report for more clues on the outlook for Fed rate cuts. As investors worried about the upcoming earnings report, Nvidia lost 2.25% of Read More…
Currency futures soared on Friday as the dollar plunged after Powell said the Fed was ready to adjust policy. Powell’s speech conveyed that the Fed was ready to start lowering borrowing costs to ensure a steady labor market. However, by Monday, most currencies eased slightly as investors took profits. After a whole week of anticipation, Read More…
Interest futures fell on Thursday as Treasury yields soared with a drop in expectations for a 50 bps Fed rate cut. However, the move reversed before Fed Chair Jerome Powell’s speech on Friday. At the same time, there is still optimism about a 25 bps September Fed rate cut. Treasury yields had a bullish day Read More…
