About: lishitong
Recent Posts by lishitong
EUR/USD Soars As Expectations For Fed Rate Cuts Increase
Fundamental Analysis * Dovish Delight: The Euro has continued its upward trend against the US Dollar for the third consecutive day. This momentum is driven by growing speculation that the US Federal Reserve may cut interest rates in 2024, which would weaken the US Dollar and support the EUR/USD pair. On Friday, the US BureauContinue Reading
Rate Cut Hopes on the Line: NFP Set to Steal the Spotlight!
Monday, 1 July 2024, 17:00 – US ISM Manufacturing PMI (Jun) The US ISM Manufacturing PMI came in at 48.7 for May, below the forecast of 49.8 and the previous reading of 49.2. The main reasons for this stagnant reading are ongoing weak demand, which affects supplier orders, inventories, capital investments, and employment. Specific areasContinue Reading
All Eye On Today’s U.S. PCE
*Strong U.S. GDP and Job data buoyed the dollar at a 2-month high level. *Heightened geopolitical tension spurs higher gold and oil prices. *ETH prices found support from its bearish trend, awaiting spot ETH ETF launching confirmation. Market Summary The Dollar Index (DXY) showed resilience following early-session easing on Wednesday, bolstered by strong U.S. economicContinue Reading
Gold Consolidates Ahead of PCE
Fundamental Analysis * Golden Pause: Gold prices (XAU/USD) are near their lowest levels in two weeks, trading around $2300, as the Federal Reserve’s hawkish stance and increased US bond yields have posed challenges for the precious metal. Following its June meeting, the Fed took a more hawkish stance, with policymakers suggesting just one interest rateContinue Reading
Japanese Yen Trades to New Low in Decades
*The Japanese Yen has been traded at its weakest level since 1986 against the dollar. *Eyeing on today’s Initial Jobless Claims to gauge the dollar’s strength. *Gold prices traded to their recent low levels as the dollar strengthened. Market Summary The Japanese Yen plummeted to its weakest level since 1986 at 160.87 against the greenback.Continue Reading
