Market Upturn as Inflation Cools; Stocks Climb, Euro and Dollar Falter

Dollar weakens broadly weakening in the early US session following the release of a batch of economic data. Durable goods orders presented a mixed bag. Concurrently, continuing claims for unemployment benefits rose to their highest level in more than two-and-a-half years. Despite these indicators, there is no immediate cause for alarm. Instead, traders, observing the […]

Dollar’s broad-based decline continues in Asian session today as market attention shifts to the highly anticipated US Non-Farm Payroll data. Traders are eager to see a weak report on job and wage growth to reinforce the expectation that the Fed will initiate a rate cut in September. If these expectations are met, we could see […]

Sterling and Euro rebound broadly today, bolstered by encouraging PMI data that suggests continued recovery momentum in both UK and Eurozone. For the Pound, the latest PMI readings indicate that UK’s recovery from last year’s recession is gathering pace. Meanwhile, rising cost pressures, particularly in the services sector, are heightening concerns about the sustainability of […]