Monthly Archives: July 2024
Dollar Soften After Jerome Dovish Testimony
Written on July 25, 2024 at 6:15 am, by
Market Summary Jerome Powell’s two-day testimony before the Senate concluded yesterday, with a dovish tone that bolstered the market’s risk-on sentiment and tempered the dollar’s strength amidst expectations of accommodative monetary policy. Wall Street continued its rally as the U.S. equity market entered earnings season, buoyed by optimistic outlooks for corporate earnings. Attention now turnsContinue Reading
Dollar Calm On Neutral Powell’s Testimony
Written on July 25, 2024 at 6:14 am, by
Market Summary The highly anticipated testimony of Jerome Powell commenced yesterday, but the market remained calm as the Fed’s chief delivered a neutral statement. Powell acknowledged that inflationary pressure in the U.S. is showing signs of easing and raised concerns about potential risks to the labour market from persistent high borrowing costs. However, he refrainedContinue Reading
