Bi Weekly Market Review - Edition #4

For the period 16th - 31st July

Dear FOMOdrive community members,

Happy August!

Welcome to Edition #4 of our Bi-weekly Market Review covering market news from 16th - 31st July. As the sun shines bright and temperatures are high, let us unpack the latest market updates and trends, don’t miss our “Learning Corner” at the end of this newsletter.

Summary

- The markets have been relatively stable, with low volatility recently.

- Confidence in a soft economic landing is growing among investors.

- Worldcoin, a crypto project by Sam Altman, launched recently.

- Aversion towards China investments has increased due to a weak post-COVID economic rebound and renewed geopolitical tensions.

- The Federal Reserve raised the funds rate to 5.5%, a 22-year high.

- Gold prices rose due to a weaker dollar and expectation that central banks are nearing peak interest rate hikes.

- The Yen strengthened and JGB yield spiked after the Bank of Japan announced more flexibility in their yield target range.

- Oil prices reached a three-month high, recording the steepest monthly gains since January 2022.

Major Market News

Crypto

- OpenAI’s Sam Altman launches Worldcoin crypto project: source CNN

Equities

- Citigroup raises S\&P 500 target for 2023 on increased chances of ‘soft landing, source: marketwatch

- Investors dumping China load up on other emerging markets, source: Reuters

Bonds and Interest Rates

- Federal Reserve Raises Interest Rates to 22-Year High, source: The Wall Street Journal

Commodities and FX

- Gold set for best month in four as rate-hike cycle nears end, source: CNBC

- Global shares slip, dollar soars versus yen on Bank of Japan policy expectations, source: Reuters

- Yen and bond yields rise after BOJ pledges more flexibility to yield curve control, source: CNBC

Learning Corner

Quote of the Day:

“I think when it comes to decisions, I try not to be emotional. To drown out the noise and look at the important facts.”- Alan Tepper

Educational Spotlight:

Your guide to stock investing: 12 Equity investing terms to know by Fidelity. If you would like to know more check it out here.

We hope you found this edition of the Bi-weekly Market Review informative and useful. As always, we welcome your feedback.

Until next time. Stay informed.

The FOMOdrive Team