Monthly Archives: June 2024
Dollar Strengthen on Upbeat Economic Data
Written on June 26, 2024 at 6:26 am, by
Market Summary On the back of the upbeat CB Consumer Confidence reading of 100.4, several Fed governors issued hawkish comments on upcoming monetary policy, which ultimately bolstered the dollar’s strength. Despite the Fed’s hawkish outlook, the U.S. equity market rallied, driven by Nvidia, the AI bellwether company, which rose approximately 7%, fueling gains in theContinue Reading
Gold Edge Higher On Soft Dollar
Written on June 26, 2024 at 6:24 am, by
Market Summary The dollar has eased from its bullish trend, which was fueled by upbeat PMI readings last Friday. Apart from Friday’s PCE reading, traders are also keeping an eye on Wednesday’s U.S. 5-year note auction to gauge market sentiment toward the Fed’s upcoming monetary policy and its implications for the dollar’s strength. On WallContinue Reading
Japan Warns For Market Intervention To Protect Yen
Written on June 26, 2024 at 6:23 am, by
Market Summary All eyes are on the Japanese Yen as it continues its downward slide against its peers, notably experiencing a 3% decline against the dollar in June. As the USD/JPY pair approaches the critical 160 mark, Japan’s top currency official has heightened concerns by stating that Japanese authorities are prepared to intervene in theContinue Reading
