There’s been no let-up in global growth worries this week and risk off price action has intensified as best reflected through more weakness in US equities. The latest concerns come from discouraging US earnings, ineffective China monetary policy easing efforts, and distressing data out of the Eurozone and UK.

 

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USD/JPY is licking its wounds at around 153.50 after reversing sharply from 154.00 in early Asian trading. The pair came under renewed selling pressure after Tokyo's core inflation continued to rise in July, backing the case for a BoJ rate hike next week. 

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AUD/USD steadies near 0.6650, as markets turn cautious ahead of US PCE

AUD/USD steadies near 0.6650, as markets turn cautious ahead of US PCE

AUD/USD sellers take a breather near 0.6650, refraining from placing fresh bets ahead of the US PCE inflation data. Continual weakness in China's economy paired with depreciating iron ore prices remains a major contributor to the recent decline in the Aussie. 

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Gold price finds support above $2,350, traders eye PCE data

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Gold price is holding its modest recovery above $2,350 in early Asia on Friday. Gold price tumbled to a two-week low on Thursday after the US economy fared better than expected in Q2 2024, raising doubts on the scope of the Fed rate cuts this year. US PCE inflation awaited. 

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Celebrity meme coins report by Jupiter Slorg on Thursday shows that these tokens have been in deep waters since early July after experiencing heavy growth in June.

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Will financial markets get some relief as the week closes out?

Will financial markets get some relief as the week closes out?

There’s been no let-up in global growth worries this week and risk off price action has intensified as best reflected through more weakness in US equities. The latest concerns come from discouraging US earnings, ineffective China monetary policy easing efforts, and distressing data out of the Eurozone and UK.

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