In focus today Today Norges Bank (NB) will publish the regional survey for Q2, where we expect that the respondents (corporates) will be somewhat more optimistic than in February. The aggregated production index for both Read more…
Australia’s labor market demonstrated resilience in May, with employment increasing by 39.7k, slightly surpassing expectations of 39.0k. Full-time jobs saw a significant rise of 41.7k, while part-time jobs experienced a slight decline of -2.1k. Unemployment Read more…
Key Highlights Crude oil prices started a strong recovery wave above the $75.00 resistance zone. There was a break above a key bearish trend line with resistance at $74.90 on the 4-hour chart. Bitcoin surged Read more…
S&P 500 and NASDAQ extended their record runs overnight, but that was mainly fueled by softer-than-expected May US CPI data. Market reaction to FOMC’s rate decision was indeed subdued, reflecting the balanced nature of the Read more…
The June Committee forecasts are based on the momentum of Q1 not Q2’s softening. Westpac continues to expect incoming data to justify two cuts in 2024, beginning in September. The FOMC showed considerable caution regarding Read more…
FTSE 100 Index reversed from support level 8140.00 Likely to rise to resistance 8300.00 FTSE 100 Index recently reversed up from the pivotal support level 8140.00 (which also stopped the previous correction A at the Read more…
NASDAQ 100 reversed from support level 19000.000 Likely to rise to resistance 20000.00 NASDAQ 100 Index recently reversed up from the support level 19000.000 (former resistance from the middle of May, acting as the support Read more…
The Fed maintained its monetary policy unchanged as widely anticipated. The ‘dots’ signalled delayed cuts, with median pencilling in only 1 reduction for 2024 (prev. 3) but 4 for both 2025 and 2026 (prev. 3). Read more…
Summary As expected, the Federal Open Market Committee left the federal funds rate target range unchanged at 5.25-5.50% at the conclusion of its meeting today. Yet the latest Summary of Economic Projections showed most participants Read more…
The conventional wisdom as markets closed on Wednesday was something like this: The Federal Reserve may cut interest rates only once this year. And a number of investors were not thrilled. At the end of Read more…