Last week, Fed Chairman Powell’s testimony and the latest FOMC Meeting Minutes helped market for the highly expected interest rate cut at the end of July. Moreover, it is reasonable to cut interest rate when the US inflation rate continued to be low. The smooth CPI and PPI data was mostly in line with the anticipation last week raised concerns about inflationary pressures.
The newly released Chinese GDP reduced to 6.2% compare with last quarter, with very little market influence. Other data including yearly industrial production and retail sales were both higher than expectation, at 6.3% and 9.8% respectively.
The upcoming New Zealand quarterly CPI, Australian Monetary policy meeting minutes, and the US monthly retail sales data may affect the market movement.
Daily movement
|
Asset |
Open |
Close |
High |
Low |
change% |
|
USDX |
96.7200 |
96.4200 |
96.7200 |
96.3900 |
-0.31% |
|
EURUSD |
1.1253 |
1.1270 |
1.1275 |
1.1238 |
0.15% |
|
GBPUSD |
1.2517 |
1.2574 |
1.2579 |
1.2516 |
0.45% |
|
USDJPY |
108.4760 |
107.8910 |
108.6060 |
107.8010 |
-0.54% |
|
AUDUSD |
0.6975 |
0.7020 |
0.7024 |
0.6970 |
0.65% |
|
USDCAD |
1.3069 |
1.3026 |
1.3070 |
1.3017 |
-0.33% |
|
NZDUSD |
0.6654 |
0.6694 |
0.6698 |
0.6652 |
0.60% |
|
USDCNH |
6.8762 |
6.8776 |
6.8854 |
6.8718 |
0.02% |
|
GOLD |
1404.1200 |
1415.3000 |
1416.8900 |
1403.0800 |
0.80% |
|
WTI |
60.3500 |
60.2400 |
60.6400 |
59.8300 |
-0.18% |
|
BRENT |
67.2600 |
67.3500 |
67.7800 |
67.0100 |
0.13% |
|
DOW 30 |
27074.7400 |
27315.7500 |
27332.9400 |
27072.8500 |
0.89% |
|
S&P 500 |
2998.7400 |
3010.8000 |
3013.6500 |
2998.2500 |
0.40% |
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