About: jonywang
Recent Posts by jonywang
Wall Street Plummet on Poor PMI Reading
*Wall Street experienced a significant sell-off, followed by the release of the U.S. PMI, which came short of the market consensus. *Oil prices plunged as the Libyan oil field is expected to be back in operation, and the pessimistic demand outlook is hindering the oil prices. *The Aussie dollar lost strength as the GDP readingContinue Reading
Libya Oil Field Shutdown Leads Oil Prices to Rebound
*Oil prices rebound as Libya set to shutdown its key oil field. *Dollar rebound ahead of Friday’s NFP and led the gold to decline. *Wall Street Growing optimistic and Nasdaq is poised to rebound. Market Summary Oil prices rebounded above the critical support level near the $73.00 mark, driven by several key factors. Libya’s keyContinue Reading
Dollar Strengthen as Inflation Data Remain High
*Last Friday, the PCE reading fueled the upward momentum for the dollar. *Eye on Wednesday BoC’s interest rate decision with the expectation of a 25 bps rate cut. *Oil slid on Poor Chinese PMI readings. Market Summary The highly anticipated PCE reading released last Friday catalysed the U.S. dollar, pushing it above its previous resistanceContinue Reading
Upbeat U.S. GDP Spurs Dollar Strength
*Dow Jones rose to an all-time high, bolstered by the upbeat U.S. GDP reading. *Eye on today’s U.S. PCE reading that may spur the forex market. *Japanese Yen strengthened, followed by the Tokyo CPI reading release that topped market consensus. Market Summary The Dow Jones set a new milestone, rising to 41,577 points before experiencingContinue Reading
Eye on Today’s U.S. GDP
*Wall Street Retraced Despite Nvidia’s earnings report meeting market expectation. *The Atlanta Fed Chief’s hawkish tone supports the dollar from dropping. *Eye on today’s U.S. GDP data that could spur the forex market. Market Summary Nvidia’s highly anticipated earnings report was released yesterday, but despite the numbers beating market consensus, the performance lacked a “wow”Continue Reading
