EUR/USD Rebounds as US Avoids Default, but NFPs Loom
The US Senate approved the debt limit bill, while Fed rate hike bets ebb, in unfavorable combination for the USDollar ahead of today’s critical jobs report
The US Senate approved the debt limit bill, while Fed rate hike bets ebb, in unfavorable combination for the USDollar ahead of today’s critical jobs report
Watch today’s US Open for insights on the recent comments by Fed & ECB policymakers, the latest on the US debt ceiling and more
The index finds supprort after dovish comments from Fed officials and successful passage of the debt ceiling agreement by the House, with focus now shifting to the Senate vote and the critical Jobs Report
Markets had come to expect another rate hike in June after the hot PCE inflation figures, but two Fed voters advocated in favor of a skip on Wednesday, causing another repricing ahead of Friday’s key jobs report
USOil drops after its two-week rebound, as China’s factory activity contracted again, amidst signs of rifts between Russia and Saudi Arabia ahead of Monday’s OPEC+ meeting
Watch today’s US Open for insights on the latest around the US debt ceiling, the hot PCE inflation data that added to the hawkish repricing around the Fed’s rate path and more
XAU/USD started May with new record highs, but was forced into a correction due to the change in expectations around the Fed rate path, which boosted the US Dollar
The pair finds support at the start of the week, despite Friday’s hot US PCE inflation, hawkish Fed repricing and debt ceiling agreement that still need Congress approval
The chip designer’s stock surged on Thursday, after the quarterly results showed strong demand for its Artificial Intelligence-related products, lifting the tech sector, despite debt ceiling uncertainty and hawkish repricing around the Fed
Watch today’s US Open for insights on the latest around the US debt ceiling and Fed-speak, the dovish shock by the Reserve Bank of New Zealand, the UK inflation data that keeps pressure for more rate hikes, NVIDIA’s AI-driven strong quarterly report and more
The chip designer reported somewhat mixed quarterly results on Wednesday, but the data center business generated record revenues on AI demand, which also drove strong forward guidance and sent the stock higher in pre-market
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