Dollar Weakens after Mixed Data, Traders Turn Cautious

British Pound held steady following release of UK data showing decrease in both headline and core consumer inflation for May. This development is unlikely to influence BoE decision tomorrow, where a rate hold is widely anticipated. Although BoE is expected to begin cutting interest rates soon, this plan has been delayed due to the unexpected […]

The stronger-than-anticipated core inflation data initially sent shockwaves through US equities overnight, sparking a deep sell-off. However, tech stocks led a remarkable recovery, with all major indexes finishing in green. Notably, S&P 500 posted a remarkable reversal, ending the day up more than 1% after having fallen over -1% intraday—a feat not seen since 2022. […]

Trading in the forex markets continued to be relatively subdued, as the initial buzz surrounding a Fed rate cut in September is quickly dissipating. Although there is still some speculation about the possibility of a more aggressive 50bps cut to kick off the easing cycle, the repeated reassurances from Fed officials about a preference for […]