Monthly Archives: July 2024
41654156156Dollar Soften After Jerome Dovish Testimony
Written on July 11, 2024 at 3:28 am, by jonywang
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
Euro Gains On Renewed Rate Cut Expectations
Written on July 11, 2024 at 1:53 am, by jonywang
Fundamental Analysis * Dovish Outlook: The EUR/USD has risen against the greenback, buoyed by broad market selling of the US Dollar. Market sentiment has recovered significantly, with renewed expectations for rate cuts following Federal Reserve Chairman Jerome Powell’s dovish remarks during his two-day testimony before US Congressional committees. Powell expressed concerns that maintaining high interestContinue Reading
Dollar Calm On Neutral Powell’s Testimony
Written on July 10, 2024 at 3:44 am, by jonywang
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
