Monthly Archives: May 2024
41654156156Gold Surge Amid Weak U.S Jobs Data, Fed Rate Cut Speculation
Written on May 10, 2024 at 2:34 am, by jonywang
Fundamental Analysis * Cooling Labor: The price of gold resumed its upward movement and climbs more than 1% following weak US jobless claims data and falling US Treasury yields, dampening demand for the US dollar. The US Department of Labor revealed that Initial Jobless Claims for the week ending May 4 climbed to 231,000, surpassingContinue Reading
All Eye on BoE’s Monetary Decision Today
Written on May 9, 2024 at 5:33 am, by jonywang
Market Summary In the last session, the financial markets experienced relative calm, with the dollar index (DXY) maintaining stability around the 105.50 level, while U.S. equity markets remained near recent highs. Notable movements were observed in the bond markets, where the 10-year benchmark yields for Australia, New Zealand, and Japan saw increases, potentially bolstering theirContinue Reading
Crude Oil Gains Following US Crude Inventories Fell
Written on May 9, 2024 at 2:25 am, by jonywang
Fundamental Analysis * Surprise Draw: The price of the US crude benchmark WTI, has regain some ground and rebound from losses following an unexpected drop in U.S crude storage. According to the Energy Information Administration (EIA) report on Wednesday, crude inventories for the week ending May 3 fell by 1.4 million barrels to 459.5 millionContinue Reading
