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US equities: Tech-led setback weighs on indexes – Deutsche Bank
Deutsche Bank strategists note that United States (US) equities experienced a classic risk-off session, with major indexes pressured by a sharp sell-off in chipmakers. The NASDAQ dropped more than the S&P 500 as semiconductor weakness dragged broader benchmarks lower.
Fxstreet
Wed, Jun 24
BoJ’s Ueda: Expect to continue raising interest rate as underlying inflation approaches 2%
In a speech prepared by Bank of Japan (BoJ) Governor Kazuo Ueda and read out by Deputy Governor Ryozo Himino during the European trading session on Wednesday, Ueda stated that the monetary policy path will remain on the upside, citing risks to inflation overshooting the 2% target.Fxstreet
Wed, Jun 24
Australian Dollar steadies vs Japanese Yen as CPI cools, BoJ hawks
AUD/JPY remains steady after six days of losses, trading around 0.6920 during the Asian hours on Wednesday. The currency cross moves little as the Australian Dollar (AUD) experiences minor volatility following the release of Australia’s Consumer Price Index (CPI) data.
Fxstreet
Wed, Jun 24
British Pound declines as market caution lifts US Dollar
GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar (USD) gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.
Fxstreet
Wed, Jun 24
Reserve Bank of Australia: Slowing demand supports steady rates – TD Securities
TD Securities strategist Prashant Newnaha notes that softer S&P Australia Flash Composite PMI data, including weaker new orders and moderating price pressures, supports the Reserve Bank of Australia keeping its cash rate unchanged at 4.35% in August.Fxstreet
Tue, Jun 23
BoE’s Taylor: “We enter this shock with a very weak economy”
Bank of England (BoE) policymaker Alan Taylor said on Tuesday that keeping interest rates on hold for an extended period remains the most appropriate policy response, according to the text of a speech due to be delivered at an event hosted by Barclays and the Center for Economic Policy Research.Fxstreet
Tue, Jun 23
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Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
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