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US Non-farm payroll released the pressure of gold
Gold prices surged as Trump signals US-China trade war escalation. In the early morning on Friday, Gold price fell from 1449.11 to 1430. After the US Non-farm payroll figure of 164K released last Friday, the Gold price rebounded more than 15 dollars, and finally oscillated at around 1,440.13.
As the
The Fed Cut Interest Rates by 25 Basis Points.
The highly concerned Fed rate cuts decision has been announced. The Fed cut interest rates by 25 basis points as the market expected. This is the first time the Fed has cut interest rates in 10 years. Chairman Powell released the neutral tone to state that this decision is just to deal with the glob
Sterling continued to fall,FED rate decision comes
On Tuesday, the US President Trump once again called the Fed, hoping to see a sharp cut in interest rates and an immediate stop of Quantitative Tightening Monetary Policy. A series of US economic data was announced and pointed to muted inflation. The Dollar Index decreased 0.02% to 97.81, while Gold
GBP Plunged, Gold and Oil price closed higher
On Monday, GBPUSD continued its plunge and dropped 1.28% to 1.2218 as the new British Prime Minister Johnson said that the UK was still likely to reach a Brexit agreement and issued a hard-line Brexit remark.
The US Dollar Index dropped 0.08% to 97.64 and now approaching multi-year inflection slope
ECB Monetary Policy Triggered Market Volatility
The ECB decided that the interest rate will remain unchanged. EURUSD raised first as the ECB hinted this monetary policy. Mario Draghi delivered his remarks on monetary policy outlook but didn’t discuss about rate cuts during the press conference, which confused the market and affected the market co
Slowdown PMI indicated the most volatile Eurozone
Early on Wednesday, oil price climbed after EIA reported a nearly 11 million-barrel fall in weekly crude supplies. Then NYMEX's most active WTI futures achieved a total of 2.543 billion US dollars trading volume. WTI price dropped 2.37% to 55.73. Brent price fell 1.62% to 63.31.
Cabinet restr
GBPUSD reaction to new Prime Minister announcement
Boris Johnson won 66% of the votes yesterday and became the next UK prime minister as widely expected. He insisted he would “get Brexit done by 31 October”. The market didn’t have much reaction to this result, GBPUSD fall 0.23%.
There was a rebound in oil price because the US API crude oil inventory
New British Prime Minister will be Confirmed
There was no significant movement on Monday. The USDCAD movement was relatively large due to the dropping monthly Wholesale Trend released by Canada. The forecasted Canadian sales rate was 0.8% and the actual rate was -1.8%.
As the market increased the bet on “no-deal Brexit”, GBPUSD continued to de
Daily Summary for Friday – the 19th of July
Last Friday, the DOW 30 and S&P 500 dropped 0.76% and 1.06% respectively. The mainstream of the market is still focusing on the rate cuts. The intension of Fed’s rate cuts bets was reducing after FOMC member Williams’s speech last week. The US president Trump sent tweets on Friday to express his
Daily Summary for Thursday – the 18th of July
The US dollar index fall 0.52% to 96.34. Major G10 currencies to USD increased: AUDUSD raised the most at 0.95%, EURUSD raised 0.47%, GBPUSD raised 0.94%, and NZDUSD raised 0.84%.
Gold price reached 1448.05 and closed at 1446.29 yesterday. This was the highest level since June 2013.
The crude oil pr
Daily Summary for Monday – the 15th of July
On Monday, the Empire State Manufacturing index raised up to 4.3, much better than the previous value of -8.6. And this unexpected rise indicates that the US economic condition is healthy, many businesses are active and positively stimulate the market. The oil price benefited from this and WTI once
Daily Summary for Friday – the 12th of July
Last week, Fed Chairman Powell’s testimony and the latest FOMC Meeting Minutes helped market for the highly expected interest rate cut at the end of July. Moreover, it is reasonable to cut interest rate when the US inflation rate continued to be low. The smooth CPI and PPI data was mostly in line wi
Daily Summary for Thursday – the 11th of July
The overall monthly CPI edged up 0.1% in June, and the core CPI rose to 0.3%. These increase were mainly due to rising food and rent prices.
Mr Powell’s speech hinted an aggressive rate cuts at the end of July by the Fed’s decision, which boosted the US market. In terms of commodities market, the pr
Daily Summary for Wednesday – the 10th of July
After the G20 summit where we saw a resumed trade relationship between the US and China, and the strong non-farm payrolls report, there was an easing bet on the Fed’s rate cuts. But Chairman Powell’s testimony in front of the congress strongly hinted that a rate cut is likely to come at the end of J
Daily Summary for Tuesday – the 9th of July
On Tuesday, there was limited influential economic data during US market session. Fed Chairman Powell did not mention monetary policy in his public speak during stress testing review. The US dollar index was relatively stable. The investors will keep their eye on his second speech tonight about Semi
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