Market Minutes

Read snapshots of the latest market news

US economic growth for second quarter is revised up

US economic growth for Q2 2024 has been revised up to an annualized 3% from 2.8%, highlighting the economy’s resilience despite high interest rates.

Aussie rises on inflation printing

The yen gained strength as BoJ Deputy Governor Ryozo Himino indicated potential rate hikes if economic confidence continues to grow.

ECB’s Knot calls for tighter fiscal policy

ECB’s Klaas Knot urges tighter fiscal policies to aid inflation control, while German consumer sentiment hits a four-month low

Market rotation to Cyclical stocks amid volatility

Investors pulled out of growth stocks overnight, continuing with a rotation into cyclical stocks such as financials ahead of PCE data this Friday.

GBP/USD struggles to hold above 1.32

The pair retreats from multi-month highs after leading as a top performer in August

Japan's CPI rises to 2.7% in July

Japan's consumer prices rose to 2.7% in July, but core inflation slowed to 1.9%, the lowest since 2022.

All roads lead to Jackson Hole

Jerome Powell’s highly anticipated Jackson Hole address will shape expectations on rate cuts and recession concerns.

Gold hits all-time high

Spot gold prices hit a record $2,499 per ounce on Friday, driven by disappointing U.S. housing data that sparked renewed concerns over economic stability

US jobless claims decline, retail sales surge

U.S. labor market data released Thursday showed initial jobless claims declining more than expected last week, while retail sales surged in July

Gold prices slip ahead of US CPI

Gold prices fell for the second day as markets reacted to soft UK CPI and anticipated US inflation data, with a high-risk appetite pressuring the metal