Market Overview - Page 65

Later on Friday, an important US employment report will be released. On average, analysts expect employment growth of just over 200K, which is in line with the trend rate of hiring during periods of trend GDP growth. Hourly payrolls are.

The Bank of England raised its key interest rate by 25 points to 5.25%, as widely expected by the market. Eight out of nine members voted for the hike, with two supporting a 50-basis point increase. The Bank of England’s.

The US dollar is continuing the rally that began in the middle of last month, benefiting from the caution in financial markets in recent days. Although the current rally has not yet brought the Dollar Index back to the levels.

Ahead of Friday’s official employment report, ADP provided another robust estimate for July. It is said that the private sector added 324K jobs last month, down from 455K the previous month. The pace of hiring rose rather than fell in.

Fitch Ratings unexpectedly cut the US long-term credit rating by one notch to AA+. In response, markets have begun a gradual but broader risk repricing. The suddenness of Fitch’s move is disconcerting, given that the rating was not under review.

Gold has been sticking to support at the 50-day moving average since July 13th but has not found enough strength to break away from it. The markets tested the uptrend again last Thursday amid a wave of dollar strength. On.

According to Eurostat’s preliminary estimate, eurozone inflation slowed to 5.3% year-on-year in July. This is the lowest rate since January 2022 and aligns with analysts’ expectations. The core index stood at 5.5%, above the headline rate for the first time.

Oil has accelerated its gains over the past week, adding more than 20% to the lows of 28 June, when the latest rally began. Technical factors coming into play and excitement in the markets from robust macro data are adding.

The Fed raised its key rate by 25 bps to 5.25-5.50%. The upper boundary of this range is the highest in 22 years. The lower boundary corresponds to the plateau level at which the Fed held rates from July 2006.

After pausing at the last meeting, the Fed will announce its rate decision today with a widely expected 25-point hike to a range of 5.25%-5.50%. This event is 97% priced into interest rate futures, according to the FedWatch tool, and.

The US dollar has risen for the 6th consecutive session, weighing on gold. However, this corrective pullback now highlights gold’s internal strength. Over the last week, gold fell 1.2% to $1953, erasing the rally of the 18th. However, longer declines.

Crude oil rebounded on Monday after four weeks of gains. Today’s rise of 1.2% to $77.7 per barrel of WTI is not remarkable in terms of momentum, but it is noteworthy for its potential impact on the technical picture. At.