Author: FX
EUR/USD rallies nearly 1% as Powell signaled policy flexibility and acknowledged downside risks in the US labor market.Traders boosted odds of a 25 bps Fed cut in September to 90%, up sharply from 72% on Thursday.Outcome hinges on Core PCE, CPI, and Nonfarm Payrolls before September, with risks skewed toward inflationary pressures.EUR/USD skyrockets during the North American session after Federal Reserve (Fed) Chairman Jerome Powell leaned dovish at his Jackson Hole speech, opening the door for a resumption of the easing cycle. The pair trades at 1.1718, up by 0.97%.Market participants began to price in a Fed rate cut in…
The Dow Jones shattered price records on Friday, hitting above 45,700 for the first time ever.Equities and general risk appetite soared after Fed Chair Powell made a dovish appearance.A September rate cut looks like a sure thing, bolstering general market sentiment.The Dow Jones Industrial Average (DJIA) soared to new all-time highs on Friday, testing above 45,700 for the first time since the index’s inception. The Dow Jones soared over 900 points in a single day as investors piled ferociously back into bullish bets, as a September interest rate cut looks to be in the bag.The Dow Jones is once again…
Fed Chair Jerome Powell delivered his highly anticipated address at the Jackson Hole symposium, offering markets fresh insight into the central bank’s policy stance heading into the September FOMC meeting. His remarks acknowledged a “curious balance” in the labor market, persistent though tariff-driven inflation pressures, and the Fed’s ongoing challenge of balancing its dual mandate. Powell struck a tone that leaned cautiously dovish, leaving the door open to rate cuts while stressing that decisions remain firmly anchored to incoming data and the evolving economic outlookKey HighlightsDoor to September rate cut opened Powell suggested the Fed may consider cutting rates next…
Major US stock indices moved sharply higher with the flow of funds heading into the small-cap Russell 2000 leading the way with a gain of 3.86%. The gain was the largest for the index since April 9.The 3 major indices also closed higher with the:Dow industrial average up 846.24 points or 1.89%. That’s the largest gain since May 12. The Dow industrial average closed at a record level.S&P index rose 96.74 points or 1.52% at 6466.91. That was its largest gain since May 27NASDAQ index rose by 1.88% per its largest one-day gain since August 4Looking at the components for…
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Russia’s Putin:There is a light in the end of the tunnel in Russia-US relations.Contacts continue after Alaska SummitHopes that the first steps are the start to the full scale restoration of relations; this still depends on the WestIs sure Trump’s leadership qualities will help restore ties. Sounds like he just wants tickets to the World Cup ; ) . He also has his own “Art of the Deal” strategy. Why do I smell a rat(s). This article was written by Greg Michalowski at investinglive.com. Source link
In our previous update from July 31 we anticipated for the SP500 (SPX), based on the Elliott Wave (EW) Principle, that “… now that the $6380-6460 zone has been reached, and since price is the ultimate judge—though timing can sometimes help—the index is in a range where a pullback is more likely to start.” The index reached a high of 6427 on the same day and dropped to as low as 6212 the next day. So far, so good. Afterwards, another rally began, reaching a high of 6481 on August 15. This week’s low at 6343 is significant because it…
The price of crude oil is settling at $63.66, up $0.14 or 0.22%. The high for the day reached $63.93, while the low came in at $63.31, leaving a relatively narrow trading range. Looking across the week, the market established a low at $61.45 on Monday, before testing the falling 100-hour moving average and quickly rotating back down to a Tuesday low of $61.67.From that point, momentum shifted as the price climbed above both the 100- and 200-hour moving averages, only to retrace back to the 100-hour average on Thursday, where buyers reemerged to defend support. The rebound carried through…
USD/CHF drops nearly 1% to 0.8000 after briefly hitting a two-week high earlier in the day.Fed Chair Powell struck a cautious balance at Jackson Hole, reinforcing expectations for a September cut.CME FedWatch pricing shows a 90% probability of a 25 bps September cut, up from around 70% earlier in the day.The Swiss Franc (CHF) surges against the US Dollar (USD) on Friday after Federal Reserve (Fed) Chair Jerome Powell’s remarks at the Jackson Hole Symposium triggered a broad-based Greenback selloff. At the time of writing, USD/CHF is trading near 0.8003, down almost 1% on the day after briefly touching 0.8104,…
Trump: DC Mayor Bowser must get act together or won't be mayor anymore Source link