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Tuesday, August 16, 2022
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  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

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FWNews - pulse of the forex market
  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

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Home » Risk demand wanes across the markets, dollar edges higher

Risk demand wanes across the markets, dollar edges higher

by Stephen Soo
June 29, 2022 04:49
in Fundamental analysis
0
Stocks retain bullish bias, capping dollar’s recovery

Lagarde and Powell will be in focus later in the day

Wall Street stocks erased early gains to suffer solid losses overnight as investors digested disappointing economic data out of the United States. The consumer confidence index fell this month to 98.7, down from 103.2 while 12-month inflation expectations climbed to the highest level in data going back to 1987, fueling recession concerns. As such, the Dow Jones Industrial Average fell 1.56%, the S&P 500 dropped 2.01%, and the Nasdaq Composite was down 3%.

Asian equities were down on Wednesday as worries about the economy persisted. China’s Shanghai Composite shed 1.40%, Hong Kong’s Hang Seng gave up 2.04% and he Nikkei 225 in Tokyo fell 0.91% despite the release of the higher-than-expected Japan’s retail sales data. The figure climbed to 8.5%, exceeding the forecasts of 1.3% and the prior print of 4%. Meanwhile, Bank of Japan Governor Kuroda once again urged the need for an accommodative policy in Japan.

In Europe, equities opened lower to start the day as investors continued to monitor economic developments. The pan-European Stoxx 600 dropped 0.6% in early trade, with oil and gas stocks bucking the downward trend despite a retreat in oil prices after four days of strong gains. Later in the day, Federal Reserve Chairman Jerome Powell and ECB President Christine Lagarde are due to speak at the European Central Bank’s forum in Sintra.

The dollar retains a bullish bias after yesterday’s rally that pushed the USD index back above the 104.00 mark. The greenback extended the ascent towards the 104.60, a break above which would pave the way towards the 105.00 figure. The US currency refrained from a deeper retreat in recent correction from local highs, and there seems little reason to expect much of a dollar sell-off in the near term.

Tags: Bank of JapanDollarDOW JONESECBFederal ReserveNasdaqNikkeiS&P 500Stoxx 600USUSD
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Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

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