Market Minutes

Read snapshots of the latest market news

US economy surpasses growth expectations

The US economy grew 2.8% in Q2 2024, surpassing the 2.0% forecast, with strong consumer spending and investment.

Gold prices drop in Asia, Copper hits four-month lows

Other safe havens, including the yen, gained strength over the past week. The yen rose as traders closed short positions in response to suspected market intervention by Tokyo.

Dollar boosted by risk-off sentiment

Gold trading near a multi-day low around the $2,420 mark, driven by a stronger US Dollar and profit-taking following a recent rally.

Prevailing risk-on sentiment

Markets anticipate the Fed will begin rate cuts in September, keeping US Treasury bond yields at multi-month lows.

BoE’s Dhingra calls for rate normalization

BoE’s Swati Dhingra urges immediate interest rate normalization, citing weak UK demand and stable inflation

U.S. inflation rate hits lowest point in a year

U.S. inflation hit a year-low at 3% in June, spurring rate cut expectations

Leftist coalition secures victory in France

Markets react to an unexpected victory by a left-wing coalition in France’s legislative election.

WTI rises to $83.74 after large inventory drawdown

Markets change direction after Powell’s dovish comments on inflation

Eurozone PMI signals slowdown

Output contraction hitting a year-to-date high and declines seen across new orders, purchasing activity, and employment

Yen plunges to lowest level in 38 years

The U.S. dollar climbed to a peak of 160.82 yen, the highest since December 1986 while gold prices fell below $2,300.