About: jonywang
Recent Posts by jonywang
Dollar Under Pressure: Possibilities of 50 bps Rate Cut ?
*US Dollar Dips as Federal Reserve Rate Cut Looms – Investors are bracing for a possible 50-basis-point rate cut at the Federal Reserve’s upcoming meeting. *Oil Prices Climb on Hurricane Disruptions in the Gulf of Mexico – Crude oil production in the US remains hampered by Hurricane Francine, which has taken 12% of production offline.Continue Reading
Gold Records New All-time High
*Initial Jobless Claims came in at 230k, higher than the market consensus, pushing the dollar lower. *The ECB cut rates by 25 bps, in line with market expectations. *Gold surged to a new all-time high ahead of next week’s Fed policy meeting. Market Summary Contrary to the U.S. inflation data (CPI) released on Wednesday, whichContinue Reading
Dollar Remain Strong on Upbeat CPI
*Upbeat U.S. CPI data eases recession worries, strengthening the dollar and boosting Wall Street after the release. *Gold prices were once again rejected at the $2,530 mark, indicating strong selling pressure at this level. *All eyes are on today’s ECB policy decision, with expectations of a 25 basis points rate cut. Market Summary The U.S.Continue Reading
U.S. Dollar Steady Ahead of CPI
*The U.S. dollar remains stable ahead of Wednesday’s U.S. CPI reading. *Wall Street recorded a technical rebound in the last session, following Friday’s sharp decline. *All eyes are on the UK’s unemployment rate, due today, to gauge the strength of the Sterling. Market Summary The U.S. dollar remained stable in the last session as tradersContinue Reading
Wall Street Capitulate on Soft NFP Reading
*Softer-than-expected NFP reading deteriorates risk appetite in the market and hammers Wall Street. *Gold prices declined on the strengthening U.S. dollar as the market perceived a 50 bps rate cut less likely. *BTC dropped to a one-month low as risk appetite in the wider market affected the sentiment in the crypto market. Market Summary TheContinue Reading
