Monthly Archives: July 2024
Wall Street Faces Headwind And Plummet
Written on July 25, 2024 at 6:28 am, by
Market Summary The U.S. job data released yesterday bolstered speculation of a September Fed rate cut. Initial Jobless Claims saw the biggest increase since May, suggesting the labor market in the U.S. is easing, and inflation is cooling as a result. Despite this, the dollar took a breather from its downtrend and found footing nearContinue Reading
Dollar Dip on Dovish Fed’s Beige Book
Written on July 25, 2024 at 6:24 am, by
Market Summary The dollar continues to tumble, trading at its lowest level since April, below the $104 mark. The U.S. Beige Book suggests economic growth has moderated and inflation shows signs of easing, strengthening the likelihood of a September rate cut. Improved risk appetite in the market propelled the Dow Jones up nearly 300 pointsContinue Reading
