Monthly Archives: March 2024
41654156156Swiss Franc Plunges Following SNB Surprise Rate Cut
Written on March 22, 2024 at 2:09 am, by jonywang
Fundamental Analysis * SNB Surprise: The Swiss Franc experienced a sharp decline against the dollar and its peers after the Swiss National Bank’s (SNB) decision to cut interest rates by 25 basis points (bps) to 1.50% in its March meeting held on Thursday. The SNB decided to lower interest rates in response to considerable decreasesContinue Reading
Dollar Dive on Fed’s Dovish Statement
Written on March 21, 2024 at 5:55 am, by jonywang
Market Summary The Federal Reserve announced its decision to maintain interest rates in the range of 5.25% to 5.50%, consistent with market expectations. However, Fed Chair Jerome Powell’s subsequent dovish statement indicated a commitment to rate cuts later this year, despite recent signs of inflationary pressure, as evidenced by last week’s Producer Price Index (PPI)Continue Reading
Aussie Dollar Soars After Strong Jobs Data, Post-FOMC
Written on March 21, 2024 at 1:54 am, by jonywang
Fundamental Analysis * Flying Aussie: The AUD/USD pair rise for the second consecutive day, receiving an extra boost after the optimistic Australian jobs report. Notably, the Australian Employment Change exceeded even the most optimistic predictions, further supported by the weakening US Dollar following the FOMC meeting. In February, Australia’s unemployment rate decreased to 3.7%, surpassingContinue Reading
