Today's Analysis

15

May 2024
Aussie climbs as China considers buying unsold homes

Key points: China’s proposal to buy unsold homes lifts AUD/USD as the country attempts to support its struggling property market. This move is also positively affecting other major currencies like EUR, NZD, GBP, and CAD against the USD. China is …

15

May 2024
US economic indicators continue to influence Yen performance 

Key Points:  The Japanese yen (JPY) shows weakness against major currencies in response to risk-on sentiment fueled by potential US rate cuts.  Revised March PPI data and strong April figures influence expectations, leading to a 51% likelihood of a Fed …

15

May 2024
Nasdaq hits record high as Powell calms rate hike fears, eyes on upcoming CPI

Key points Nasdaq closed at a record high driven by optimistic remarks from Fed Chair Jerome Powell and declining Treasury yields. Home Depot shares dip after earnings reveal a focus on smaller home projects, reflecting a shift in consumer spending …

14

May 2024
Anticipating the impact of US inflation data on gold prices 

Key points:  Gold prices saw an increase on Tuesday, rising 0.4% to $2,344.39 per ounce, despite a drop the previous day.  Upcoming U.S. inflation data crucial for gauging future Federal Reserve policy decisions and its subsequent influence on gold prices.  …

14

May 2024
US inflation report: Impact on the dollar 

Key Points:  The momentum of the USD has been influenced by hawkish monetary policy, with fewer than two rate cuts to be expected in 2024.  Recent softening economic data, including employment and manufacturing indicators, hint at a potential reversal in …

14

May 2024
MARKETS TODAY: Gold rally slowing down, Cable sees upswing

Key points Gold faced resistance at $2,375 and subsequently retreated, highlighting a potential retest of support at $2,280. EUR/USD broke past significant moving averages, suggesting a possible continuation of its upward trend. On Monday, gold prices failed to sustain an …

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