Key points to watch out for: Jackson Hole Will Test the Fed’s Most Pessimistic Bets After the unwarranted panic caused by the weaker-than-expected July NFP report, investors have taken a calmer stance, re-analyzing their aggressive Fed rate cut bets as incoming data indicate that the U.S. economy is not performing as poorly as initially thought. […]
Bitcoin Accumulation Initiatives in US Politics
At the recent Bitcoin2024 event, two U.S. political figures proposed significant initiatives regarding the accumulation of Bitcoin (BTC) as a reserve asset by the U.S. government. Robert F. Kennedy Jr., an independent presidential hopeful, stated that if elected, his administration plans to stockpile four million Bitcoin as a strategic reserve asset. Simultaneously, Senator Cynthia Lummis […]
Market Highlights for the Week: Powell, Dems, PM
The future path of U.S. interest rates may become clearer this week when Federal Reserve Chairman Jerome Powell delivers his speech at the central bank’s annual retreat in Jackson Hole. Before then, the Democratic National Convention will begin, global PMI data will shed light on economic strength and energy markets are likely to remain volatile […]
U.S. Stock Markets Flat, Jackson Hole and Fed Minutes in Focus
U.S. stocks traded flat on Monday, consolidating after last week’s gains as investors awaited further signals regarding the Federal Reserve’s monetary policy outlook. Wall Street’s major indices recorded their best week so far in 2024, as recent positive data eased fears of a possible recession. The S&P 500 index gained nearly 3.9%, posting its best […]
Dollar Gains Bearish Momentum, Pound Reaches One-Month Highs
The U.S. dollar fell ahead of the release of the Federal Reserve’s July monetary policy meeting minutes and Chairman Jerome Powell’s upcoming speech at Jackson Hole near the end of the week. Dollar Downtrend Begins To Gain Momentum The minutes, which will be released on Wednesday, and Jerome Powell’s speech on Friday are likely to […]
Daily Technical Analysis EUR/USD: The Pair is Moving Towards the 1.1050 Level
The EUR/USD extended its gains for the second session in a row, reaching the 1.1030 level during Asian trading on Monday. The pair’s rise could be due to the increased likelihood of an interest rate cut by the Federal Reserve in September. Last week, U.S. economic data revealed that retail sales beat estimates, while the […]
Copy Trading: What You Need to Know Before Diving In
Copy trading is a well-known method of trading in the financial markets because it involves replicating the movements of an experienced trader. However, before you consider using it, there are several things you should know. While watching and learning from an expert may offer many benefits, market risks will not disappear simply by copying trades. […]
U.S. Inflation Slows in July to 2.9%, Bitcoin Dips Below $61,000
U.S. inflation showed signs of slowing in July, aligning with economists’ estimates and paving the way for a possible interest rate cut. The U.S. Consumer Price Index (CPI), a widely analyzed measure tracking the cost of a broad basket of goods and services, increased slightly by 0.2% month-over-month in July, leaving the 12-month inflation rate […]
U.S. Stock Markets Rise on Positive CPI Data
U.S. stocks rose on Wednesday as investors digested the latest consumer inflation data amid expectations that the Federal Reserve will ease its monetary policy stance next month. CPI Data Expected to Support Rate Cut Expectations U.S. consumer prices rose less than estimated on an annual basis in July, with the consumer price index increasing by […]
U.S. Inflation Rose Less Than Expected in July, CPI Increased by 2.9% Annually
U.S. consumer prices increased in July at a slower-than-expected annual rate, raising the likelihood that the Federal Reserve will begin to cut interest rates at its next scheduled meeting in September. The Labor Department’s consumer price index (CPI) rose by about 2.9% last month, slowing slightly from 3.0% in June. Economists had estimated that the […]