The decline in DXY: The DXY index has seen a recent decline, trading at around 105.125, primarily due to the strengthening of the euro and a weaker yen. The euro’s rise was driven by the results of France’s parliamentary elections, which alleviated concerns over aggressive fiscal policies and boosted European stocks and bonds (FX Empire). Read More…
Equities closed at record highs on Monday as investors looked forward to several key events, including Powell’s testimony. The Nasdaq and the S&P 500 extended Friday’s rally when the US jobs report raised the chances of a Fed rate cut in September. The market has more rate-cut optimism as economic reports consistently show a slowdown Read More…
Currency futures edged higher on Friday as the dollar fell after the US monthly employment report. However, some outliers, like the Canadian dollar, plunged after poor Canadian employment figures. US job market (Source: Bureau of Labor Statistics) The greenback eased on Friday when the nonfarm payrolls report revealed fewer jobs added in June. Employment increased Read More…
The U.S. stock market continued to surge last week. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all hit new highs again. On Thursday, the Dow increased by approximately 0.57%, while the S&P 500 rallied 1.8% and the Nasdaq saw gains of 3.57% (Nasdaq) (Investopedia). What is driving this rally besides free money? Read More…
Interest futures surged Wednesday as Treasury yields fell with the dollar after a series of poor US economic reports. Meanwhile, markets remained closed on Thursday as the US observed Independence Day. Data on Wednesday revealed that private employment dropped in June when economists had expected an increase. The ADP employment figures showed that 150,000 more Read More…
Oil prices rose nearly 1% on Wednesday after a bigger-than-expected decline in crude inventories, indicating robust demand. At the same time, weak data from the US raised the likelihood of a Fed cut in September, which would increase fuel consumption. Oil and crude inventories (Source: Nymex, EIA) The Energy and Information Administration reported that crude Read More…
