EBC Daily Snapshot Sep 4, 2024

Safe-haven currencies surged Wednesday as Wall Street and Asian stocks fell sharply, leading to losses in commodity currencies.

EBC Financial Group
Tipo: STP, ECN
Regulamento: FCA (UK), ASIC (Australia), CIMA (Cayman Islands), FSCA (South Africa)
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USD/JPY – Back at 160, Where Japan Drew the Line

USD/JPY – Back at 160, Where Japan Drew the Line

The intervention line is being tested again. USD/JPY is back at 160, the exact level where Japanese authorities defended the yen in April. This week, officials resumed their warnings. Tomorrow's US jobs report could be the catalyst that forces their hand — or gives them relief. The technical pressure is clear, but so is Tokyo's red line. Will they step in again?
Born2trade | 10 minutos atrás
Tensions Flare Anew in the Middle East; Risk Appetite Dampened as U.S. Stocks Halt Winning Streak

Tensions Flare Anew in the Middle East; Risk Appetite Dampened as U.S. Stocks Halt Winning Streak

U.S. equities fell from record highs on Wednesday as rising oil prices and escalating tensions in the Middle East fueled inflation fears, prompting investors to take profits. The S&P 500 dropped 0.7%, the Nasdaq Composite slid 0.9%, and the Dow Jones fell 1.2%. Strong employment data increased rate-hike expectations, boosting the U.S. Dollar Index to its highest level since April 7.
ATFX | 3 h 34 min atrás
Gold Overtakes US Treasuries on Central Bank Balance Sheets

Gold Overtakes US Treasuries on Central Bank Balance Sheets

Finally, gold has surpassed the US Treasuries as the largest reserve asset held by the world's central banks. Years of record bullion purchases, combined with a powerful rise in gold prices, have reshaped the landscape. Whilst the USD remains dominant overall, the shift highlights a growing preference for hard assets amid geopolitical uncertainty and mounting concerns over sovereign debt.
Headway | 15 h 1 min atrás