About: jonywang
Recent Posts by jonywang
Dollar Surges On Robust Economic Data, Fueling Investor Confidence
The US Dollar was buoyed by robust US economic data and positive market sentiment. US GDP exceeded expectations, posting a strong growth rate of 1.30% compared to the projected 1.10%. Encouraging job market data also contributed to the dollar’s strength, with Initial Jobless Claims coming in lower than anticipated at 229K. The increased likelihood ofContinue Reading
Credit Rating Agencies Threatens to Cut U.S. Rating
Fitch has threatened to lower the US’ AAA rating as the debt ceiling issue remains at an impasse Wall Street slid as well as the Asian stock markets as the worries over the debt ceiling escalated when the time was getting closer to the X-date. Meanwhile, the dollar strengthened to its highest level since MarchContinue Reading
Dollar Rises On Debt Ceiling Optimism And Hawkish Fed Tone
The dollar has its highest since March as Fed meeting participants lean hawkish even as punters expect a hike pause in June. Important this week: the Fed meeting minutes released on Wednesday and more updates on the U.S. debt ceiling talks. The minutes for the Fed’s May 2-3 meeting was released yesterday, with divergent opinionsContinue Reading
U.S. Debt Ceiling Remains At An Impasse
The Biden-McCarthy meeting on the debt-limit bill has yet to yield any deal to avert a catastrophic U.S. default, with U.S. Treasury secretary warning that the country will run out of cash in June. Market sentiment worsened as the White House has no more meetings planned; and gold prices have rebounded due to heightened risk-offContinue Reading
Biden-McCarthy Talks Productive
Both President Biden and the House Speaker claimed that yesterday’s meeting on the debt-limit bill has a productive outcome but both parties are yet to come to an agreement. Meanwhile, U.S. treasury secretary Janet Yellen, reiterated that the department will run out of cash in early June. The dollar index has strengthened and is poisedContinue Reading
