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Monthly Archives: May 2024

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Dollar Gain on Hawkish Fed Prospect

Written on May 24, 2024 at 5:19 am, by

Market Summary Yesterday’s US data release surprised markets, with upbeat PMI readings exceeding expectations. The S&P Composite PMI reached a two-year high, while Initial Jobless Claims fell short of forecasts. This robust economic performance dampened hopes for a Fed rate cut this year, leading to a sharp selloff across both equities and fixed income markets.Continue Reading

New Zealand Kiwi Dips Amid Fears Of Fewer Fed Cuts

Written on May 24, 2024 at 2:07 am, by

Fundamental Analysis * Kiwi Troubles: The New Zealand Kiwi declined against the dollar after the rise in the US Purchasing Manager Index (PMI) figures reignited concerns that persistent inflation in the services sector could keep price growth elevated for much longer than investors hoping for rate cuts had initially anticipated. Expectations for rate cuts diminishedContinue Reading

Dollar Surge on Hawkish FOMC Meeting Minutes

Written on May 23, 2024 at 4:46 am, by

Market Summary The U.S. dollar has strengthened, with the Dollar Index (DXY) climbing to its highest level this week, fueled by hawkish FOMC meeting minutes released in the last session. The minutes revealed that some members doubted whether the current interest rate level is sufficient to bring inflation down to the 2% target, leading toContinue Reading

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