Key Takeaways:
- 💵 Dollar near two-week high ahead of U.S. payrolls data
- 🇯🇵 Yen breaks losing streak after Bank of Japan governor’s comments
- 📉 Euro and sterling edging lower against the dollar
- 📈 Dollar index up at 101.80, highest in two weeks
- 📊 Markets pricing in 69% chance of 25 bps Fed rate cut
- 🇦🇺 Australian dollar falls, New Zealand dollar lower after surge last month
- 📩 Job openings data on Wednesday and the jobless claims report on Thursday will be important before the US payrolls data on Friday.
- 📉 Markets anticipate 100 bps of cuts from remaining Fed meetings this year
- 💰 Harbour Energy expects higher cash flow due to increased production
- 🛢️ Harbour Energy plans to expand its operations in key growth areas
- 🔥 Harbour Energy reported strong financial performance in the first half of the year
- 📈 Harbour Energy raised its 2024 production forecast by 8%
Dollar and Yen Movement:
- 💵 The US dollar is near a two-week high ahead of economic data, including US payrolls, that could impact an expected interest rate cut from the Federal Reserve.
- 🇯🇵 The yen broke a losing streak against the dollar after the Bank of Japan governor reiterated they would raise interest rates if the economy and inflation perform as expected.
- 📉 The euro fell to US$1.1039, while sterling eased to US$1.3124.
- 📈 The dollar index is up 0.15% at 101.80, around its highest in two weeks, after falling 2.2% in August on expectations of US rate cuts.
- 📊 Markets are pricing in a 69% chance of a 25 bps cut when the Fed meets in September, with a 31% probability of a 50-bps cut.
Harbour Energy’s Growth:
- 💰 Harbour Energy expects higher cash flow due to increased production
- 🛢️ Harbour Energy plans to expand its operations in key growth areas
- 🔥 Harbour Energy reported strong financial performance in the first half of the year
- 📈 Harbour Energy raised its 2024 production forecast by 8%
The dollar and yen are making significant movements in the market, with the dollar nearing a two-week high and the yen breaking a losing streak. Meanwhile, markets are closely watching for the potential Fed rate cuts and how they will impact currency values.
On the other hand, Harbour Energy is showing promising growth prospects, with expectations of higher cash flow and plans to expand operations in key growth areas. The company’s strong financial performance in the first half of the year has also contributed to its positive outlook, leading to an 8% increase in its 2024 production forecast.