About: jonywang
Recent Posts by jonywang
U.S. Dollar Steady Ahead of CPI
*The U.S. dollar remains stable ahead of Wednesday’s U.S. CPI reading. *Wall Street recorded a technical rebound in the last session, following Friday’s sharp decline. *All eyes are on the UK’s unemployment rate, due today, to gauge the strength of the Sterling. Market Summary The U.S. dollar remained stable in the last session as tradersContinue Reading
Wall Street Capitulate on Soft NFP Reading
*Softer-than-expected NFP reading deteriorates risk appetite in the market and hammers Wall Street. *Gold prices declined on the strengthening U.S. dollar as the market perceived a 50 bps rate cut less likely. *BTC dropped to a one-month low as risk appetite in the wider market affected the sentiment in the crypto market. Market Summary TheContinue Reading
All Eyes on Today’s U.S. NFP
*Weaker-than-expected ADP Nonfarm employment change hammers the dollar lower. *Gold rose to near all-time high levels ahead of the NFP reading with high Fed rate cut expectations. *OPEC+ is set to extend oil supply cuts and may support oil prices. Market Summary Ahead of today’s highly anticipated Nonfarm Payroll (NFP) report, the U.S. dollar remainsContinue Reading
Dollar Eases Ahead of Key U.S. Job data
*The dollar lost ground as the Fed’s Beige Book suggests the U.S. economy is contracting. *BoC cuts interest rates by 25 bps, but the Canadian dollar remains stable. *Gold climbs to near the $2500 mark as the dollar loses strength. Market Summary The U.S. dollar lost strength after reaching a two-week high. The release ofContinue Reading
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
