USDCHF: Bearish Trend Persists at 0.8500 Psychology Level
USDCHF weakened to around the 0.8500 level amid concerns about US economic growth, following a disappointing jobs report. This has led to speculation, that the Fed may need to cut rates three times this year instead of two. Moreover, concerns about an economic slowdown have prompted investors to adopt asset …
Czytaj więcejThe Dow Jones Rebounds After Reassuring Guidance From Key US Companies!
- Stocks rebound after leading economists come out in force to confirm no recession is approaching.
- The NASDAQ rises 2.87% and the Dow Jones 1.77%. The SNP500 witnesses its best day since November 2022.
- A sense of relief after the Weekly Unemployment Claims was 8,000 lower than expectations.
- The British Pound
Earnings and Inflation Boost the Dow Jones, Eyes Turn to Walmart’s Report!
- US inflation falls from 3.00% to 2.90% making a September rate cut certain.
- According to the CME Group, there is a 64% chance of the September rate cut being 25-basis points.
- Japanese GDP data confirms the economy grew 0.8% in the past quarter. The UK economy sees no growth in
Why Are Stocks Falling and Is the Market Overreacting?
- The global stock markets turn red as all major indices significantly decline.
- The NASDAQ falls more than 6% on Monday and the NIKKEI225 wipes off all 2024’s gains.
- The US Unemployment Rate unexpectedly rises to 4.3% and the NFP figures fall to the lowest since February 2021!
- Warren Buffet opts
US Employment Data in the Spotlight as Fed Decision Looms
- The US Dollar Index rises to its highest level in 20 days and breaks above its recent price range.
- The market turns its attention to tomorrow tonight’s Federal Reserve Press Conference. Investors will be monitoring any indications of rate cuts for September.
- Analysts again expect the consumer confidence to drop