01 Aug 2024

Financial markets are kicking off a new month in an ebullient mood after the Federal Reserve left interest rates unchanged and Chair Jerome Powell suggested the central bank is prepared to cut them in September if inflation keeps moving lower. Treasury yields are lower across the curve, equity futures are consolidating for another day of gains, and commodity prices are broadly higher. On foreign exchange bourses, price action is more mixed, with a generalised improvement in risk appetite intersecting with still-elevated geopolitical tensions to alleviate selling pressure on the greenback: the Canadian dollar is holding steady while most other majors...