Gold and silver have come off their recent highs as the US dollar nudges higher ahead of the US open. Nvidia results after the US market closes will be key for risk sentiment.
What to look out for regarding Nvidia’s Q2 earnings result on 28 August 2024.
Gold continues to test, and reject, its previous all-time high at $2,485/oz. and a break higher is being pared by a strong US retail sales report
UK growth has been trending in the right direction even before the Bank of England voted to lower rates earlier this month. GBP/USD partially recovers from the July selloff
The ZEW economic outlook turned sharply lower in August with economic expectations declining at their fastest rate in two years.
In June the UK Unemployment rate dropped, defying expectations while average earnings remained steady. However, July’s sharp rise in unemployment claims raises concern
The RBA maintained a slight hawkish bias on Tuesday, holding interest rates despite rising unemployment and signs pointing to subdued growth in Q2. Focus on stubborn CPI
The Bank of Japan is expected to leave interest rates untouched at the next two policy meetings despite and future policy needs to be ‘conducted carefully’ according to the BoJ
The recent USD/JPY sell-off found short-term support after BoJ Deputy Governor Uchida downplayed another rate hike during volatile market conditions
US Core PCE, the Fed’s preferred measure of inflation, was unchanged in June at 2.60% y/y, while monthly personal income fell by more than forecast.