Yearly Archives: 2024
41654156156Gold 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
Oil Prices Bolster by Heighten Geopolitical Tension
Written on October 8, 2024 at 5:31 am, by pumarketings
Market Summary Oil prices surged by nearly 4% in the last session, reaching a near two-month high as the confrontation between Israel and Iran-backed militaries escalated, sparking concerns over potential supply disruptions in the region, which accounts for a significant portion of global crude production. In contrast, gold prices remained stable, hovering above the $2,640Continue Reading
