Monthly Archives: August 2024
41654156156Gold Price Slips Following U.S CPI Data
Written on August 15, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Gold Slide: Gold prices which trading against the greenback have edged lower as markets absorbed the U.S. inflation data released on Wednesday. The Labor Department reported that U.S. inflation in July met expectations, with the headline Consumer Price Index (CPI) rising 0.2% month-over-month, resulting in a 2.9% annual inflation rate. The coreContinue Reading
Dollar Eases On Soft PPI Reading
Written on August 14, 2024 at 4:58 am, by pumarketings
Market Summary Market risk appetite improved following the release of U.S. Producer Price Index (PPI) data, which came in lower than expected at 0.1%, below both the market consensus and the previous reading. This softer inflation figure suggests that inflationary pressures in the U.S. may be easing, prompting markets to increase their expectations for aContinue Reading
Aussie Dollar Rose Following Hawkish RBA
Written on August 14, 2024 at 2:04 am, by pumarketings
Fundamental Analysis * Hawkish RBA: The Australian dollar has continued to strengthen against the US dollar, driven by a hawkish stance from the Reserve Bank of Australia (RBA). On the data front, Australia’s Westpac Consumer Confidence increased by 2.8% in August, recovering from a 1.1% decline in July. Additionally, the Wage Price Index rose byContinue Reading
