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Gold eases as dollar, yields firm; Fed rate cut hopes lend support 7 Aug

Posted on
August 7, 2024
by
moneysmart-girl
financial news

 

Investors in Asia will be hoping that the recovery in global sentiment and risk assets on Tuesday extends into Wednesday, although the rebound in U.S. bond yields and the dollar may cool some of that optimism.

Nothing epitomized ‘Turnaround Tuesday’ more than the whoosh in Japanese stocks – a day after tumbling 12% in their second biggest fall on record, stocks rallied 10% for their third biggest rise on record.

In some ways, however, day-to-day swings of that magnitude based on not a lot of fresh or major market-moving news are red flags. They’re typical of more protracted and volatile downturns, and many investors are retaining a cautious stance.

Today’s Market News

 

Key developments that could provide more direction to markets on Wednesday:

China trade (July)

China, Japan, Hong Kong FX reserves (July)

Softbank earnings (Q1)

 

For more news visit Reuters.com

 

 

 

 

 

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