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Market Update – Risk-on Mood due to stimulus measures; Commodities climb
Asia & European Sessions:
- More new highs were set on Wall Street today as the Fed’s jumbo rate cut continues to reverberate. Fedspeakers indicated more cuts are in the future.
- European stocks are poised for a positive open, following a rally in Asian markets driven by China’s latest economic
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Dovish Fed Boosts the NASDAQ, Easing Pressure from Weak PMI Data!
- PMI reports indicate more interest rate cuts are imminent and consumer demand is likely to slow.
- Investors expect the ECB and the Federal Reserve to continue cutting interest rates.
- The NASDAQ increased after the index traded sideways on Monday. US investors await the release of the US CB Consumer Confidence
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Bigger Interest Rate Cuts Spark Surge In Demand For The NASDAQ!
- Stocks rally after the Federal Reserve chooses to “go-large” with a 0.50% interest rate cut.
- The NASDAQ rises more than 2.50% and the Dow Jones 1.26%. The Dow Jones trades at an all-time high.
- UK Retail Sales rose significantly above expectations. The Great British Pound Index rises 0.35% and is
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Market Update – Gold at record highs; Stocks climb amid Chinese stimulus bets
Asia & European Sessions:
- Asian markets were mostly positive on Monday, buoyed by last week’s interest rate decisions from central banks in the US, Japan, China, and the UK.
- PBOC reduced its 14-day reverse repurchase rate to 1.85% from 1.95%, following a decision to keep key lending rates unchanged the
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What Does Tonight’s Fed Rate Cut Mean For Gold and the Yen?
- The UK’s inflation remains at 2.2% as per previous expectations. The Pound remains slightly weaker on Wednesday.
- Gold retraces as traders increase the possibility of a 0.25% rate cut after yesterday’s Retail Sales.
- Gold positions break the previous annual record of 242.314K indicating the high demand. JP Morgan advises the