US July Trade Balance and Fed Rate Cut – Orbex Forex Trading Blog

Standard Chartered Bank (Hong Kong) Limited (SCBHK), Animoca Brands, and HKT said Monday that they have formed a joint venture (JV) to issue a Hong Kong dollar-backed stablecoin, subject to regulatory approval from the Hong Kong Monetary Authority (HKMA). SCBHK, which has actively participated in HKMA’s tokenised money projects, will contribute its bank-grade infrastructure and…

As shown by the XAU/USD chart:→ Gold has reached a new all-time high;→ This morning, gold is trading around $2,567 per ounce. Bullish sentiment is being driven by expectations of a Federal Reserve rate cut next week. According to MoneyControl, the International Monetary Fund stated on Thursday that it would be “appropriate” for the Fed…

The Fed is expected to maintain current interest rates (4.25%-4.50%) and a cautious approach, emphasizing data-driven decisions. Market participants will focus on the Fed’s “dot plot” and Chair Powell’s press conference for clues about the timing and trajectory of future rate cuts. Technically, the US Dollar Index (DXY) is showing signs of potential recovery after…

USDJPY: The Japanese Yen (JPY) is declining against the US Dollar (USD) today. Traders are keeping a close eye on the outlook for Japan’s monetary policy as central bank officials said they are ready to raise rates further, although they have become more cautious due to increased market volatility. Japan’s Finance Minister Shunichi Suzuki emphasized…