Daily Market Update - 20 August 2024 (Tuesday) Brent Crude: 77.73/barrel -2.32%⬇️ Dow Jones Industrial Average: +0.58%⬆️ DXY USD Currency: -0.60%⬇️ USD/MYR Open: 4.3700/4.3850 The dollar fell to a seven month low and the Japanese yen hit a more than one week high as traders awaited comments from Federal Reserve Chair Jerome Powell this week that are expected to signal the U.S. central bank will start cutting interest rates in September. The pound touched a one month high against the dollar, as growing bets around U.S. interest rate cuts pushed the greenback lower against other major currencies.  Oil prices fell by more than $2 a barrel on the prospect of successful Middle Eastern peace talks reducing supply risks, while leading oil importer China’s economic weakness threatened to curb demand. Gold prices subdued after piercing the $2,500 ceiling in the previous session, as investors booked profits from the record run and positioned for more cues from the U.S. Federal Reserve and developments in the Middle East.