In the US, the Federal Reserve had its July meeting last week. As was expected, there was no change to the interest rate, which remains at 5.50%. However, markets are now hopeful that a rate cut will take place at the September meeting. In equity markets, for the week the S&P 500 closed -2.40% lower, while the NASDAQ closed -4.18% lower. In Europe, GDP figures for Q2 2024 were released for some of the major economies across the Euro zone. In the UK, the Bank of England made its first interest rate cut in four years, ending one of the country’s most austere rate hike cycles. For the week, European and UK equities closed lower, between -1.82% and -4.94%. In Ireland, the final report for the All-Island Strategic Rail Review was released, while Bank of Ireland and AIB announced earnings for Q2 2024. In Asia-Pacific, The Bank of Japan last week raised its benchmark interest rate to 0.25%, at a time when major Central Banks are in the process of cutting rates. Meanwhile in China manufacturing activity fell for the third straight month in July.
MARKET WEEKLY REVIEW
Stay Informed with Our Seaspray Private Weekly Financial Market Review
Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:
Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers
Stay ahead of market trends with our expert insights. Read the latest update now!
Weekly Market Review – 05th of August 2024
The Week in Numbers
Key Events
Stay Informed with Our Seaspray Private Weekly Financial Market Review
Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:
Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers
Stay ahead of market trends with our expert insights. Read the latest update now!