Monthly Archives: October 2024
41654156156Oil Price Slips As US Crude Stock Build
Written on October 10, 2024 at 2:12 am, by pumarketings
Fundamental Analysis * Crude Build: Crude oil prices have declined after a larger-than-expected increase in U.S. crude inventories. The Energy Information Administration reported a rise of 5.8 million barrels in U.S. oil supplies last week, far exceeding the forecasted 2-million-barrel build. Additionally, oil prices were pressured by the possibility of de-escalation in the Middle EastContinue Reading
Gold Prices Plunge on Fed’s Hawkish Prospect
Written on October 9, 2024 at 5:49 am, by pumarketings
Market Summary Chinese equities, including the China A50 and Hang Seng Index (HSI), extended their losses following the resumption of trading after the National Day holiday. Poor holiday economic data, combined with growing skepticism around stimulus measures, sparked a sell-off in the market, with the HSI plunging nearly 10% since its last session. Meanwhile, U.S.Continue Reading
USDJPY Gains On Firm Dollar, Weak Japan Data
Written on October 9, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Spending Slump: The Japanese yen continued to weaken against the U.S. dollar, as the greenback maintained its strength amid reduced expectations of a larger-than-expected rate cut. According to the CME FedWatch tool, traders have adjusted their projections for the Federal Funds rate in November, now expecting a 25-basis point cut, which wouldContinue Reading
