Market Optimism Rises as Asian Shares Rally and Dollar Slumps on Fed’s Potential End to Rate Hikes
Market Optimism Rises as Asian Shares Rally and Dollar Slumps on Fed’s Potential End to Rate Hikes On Thursday, Asian shares and bonds enjoyed a rally, while the dollar faced significant losses. This shift in the market sentiment was fueled by lower-than-expected U.S. inflation figures, leading to the belief that the Federal Reserve may be nearing the end of its tightening cycle post-pandemic. In contrast, European stocks had a cautious start, with EUROSTOXX 50 futures […]
Challenges Remain Despite Significant Progress in US Inflation
Challenges Remain Despite Significant Progress in US Inflation Headline inflation has reduced to a fraction of its peak, yet the contribution from shelter alone exceeds the Federal Open Market Committee’s (FOMC) annual target of 2.0%. In June, both headline and core Consumer Price Index (CPI) outcomes fell short of expectations at 0.2%, resulting in respective annual rates of 3.0% and 4.8%. These figures are significantly lower than their 2022 peaks of 9.1% and 6.6% respectively. […]
AUD/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High
AUD/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High The AUD/JPY cross is showing signs of momentum, pushing past the 100-hour Simple Moving Average (SMA) and reaching a two-day peak. This trend mirrors the progress of the EUR/USD pair, which is also advancing towards a fresh 2023 high close to 1.1150. The performance of both pairs has been influenced by a general weakening of the US dollar. The AUD/JPY cross has managed to […]