Market Minutes

Read snapshots of the latest market news

S&P 500 at ATH, UK growth remains flat

Asian markets face selling pressure; Chinese indices weaken post CPI inflation data release

Gold drops as China’s PBOC halts buying

China's PBOC reported unchanged gold holdings in May, ending an 18-month buying streak.

Stronger-than-expected job growth pressures gold

Market expects less dovish stance from the Federal Reserve

ECB cuts rates to 3.75%, future moves unclear

The ECB cuts its deposit rate to 3.75% but leaves future policy moves uncertain amid an improved inflation outlook.

Bank of Canada cuts rates for first time in four years

The Bank of Canada reduced its key interest rate by 25 basis points to 4.75% in June 2024, marking an end to 11 months of peak rates. The decision follows lower-than-expected GDP growth and signs of easing inflation.

PCE matches expectations as gold holds steady around $2,360

PCE at 2.7% YoY, matching both expectations and the previous month

US Q1 GDP growth revised to 1.3%

Futures trimmed losses after US first-quarter GDP was revised down to 1.3%, as expected. Initial jobless claims rose to 219,000.

Gold faces pressure in Asian session

Market participants are eagerly awaiting new US economic data and upcoming speeches from Federal Reserve policymakers for further insights on future policy directions

Germany inflation rate rises to 2.4% in May

Germany's inflation rate rose to 2.4% in May, potentially not influencing the ECB's upcoming interest rate decision but the tone.

Goldman revises Fed cut timeline as economic strength persists

Goldman Sachs postpones its Fed rate cut forecast to September, citing persistent economic resilience.