About: lishitong
Recent Posts by lishitong
Dollar Calm On Neutral Powell’s Testimony
* Jerome Powell’s first day of Testimony had a limited impact on both the dollar and Wall Street. *Japanese Yen lost ground to the 161 mark against the dollar, raising concern by central Japanese banks. *Oil slip as the Hurricane Beryl damage on U.S. oil-producing hubs is limited. Market Summary The highly anticipated testimony ofContinue Reading
Oil Price Dips As Worries Over Supply Disruptions Subside
Fundamental Analysis * Barrel Blues: Crude oil prices dropped by more than 1% as traders realized that Hurricane Beryl’s expected impact on U.S. crude hubs was less severe than initially feared. The storm weakened into a tropical storm, causing minimal damage to major refineries along the Gulf Coast. Oil production in Texas resumed quickly afterContinue Reading
All Eye On Powell’s Testimony
* Eyeing Powell’s testimony, be cautious about the impact on the dollar. *RBNZ’s interest rate is due tomorrow, and a potential hawkish stance from the RBNZ may bolster the Kiwi. *Gold slid as the Middle East Ceasefire talk progressed. Market Summary Jerome Powell’s 2-day testimony at Capitol Hill begins today, and traders will be closelyContinue Reading
Canadian Dollar Falls On Potential BoC Rate Cut
Fundamental Analysis * Loonie Dip: The Canadian Dollar has weakened against the U.S. Dollar due to anticipated consecutive rate cuts by the Bank of Canada (BoC). This expectation is fueled by turmoil in the labor market. Recently, Canada’s unemployment rate rose more than expected, hitting 6.4% compared to the forecasted 6.3% and the previous 6.2%.Continue Reading
Dollar Weaken On High Unemployment Rate
* The Dollar index weights on soft U.S. job data and edge lower. *Japanese Yen boosted by improved earning growth. *BTC erased most of its gain from last Friday and continued to trade with strong downside pressure. Market Summary Last Friday’s U.S. employment report delivered a mixed bag of results: Nonfarm Payrolls (NFP) surpassed expectationsContinue Reading
