Monthly Archives: August 2024
41654156156Oil Price Slips On Easing Middle East Tension
Written on August 21, 2024 at 1:58 am, by pumarketings
Fundamental Analysis * Crude Calm: Crude oil prices have declined amid expectations of easing tensions in the Middle East, following diplomatic efforts in the region and rising U.S. crude inventories. U.S. Secretary of State Antony Blinken concluded a Middle East visit aimed at facilitating a ceasefire in Gaza. Blinken, along with mediators from Egypt andContinue Reading
Dollar Pressures by Dovish Fed Remark
Written on August 20, 2024 at 5:07 am, by pumarketings
Market Summary The Dollar Index (DXY) remains under pressure as dovish comments from multiple Federal Reserve officials suggest the possibility of a rate cut in the near future. Traders are now eagerly awaiting Wednesday’s FOMC meeting minutes for further insight into the Fed’s upcoming monetary policy moves. Meanwhile, Wall Street rallied last night, fueled byContinue Reading
Nasdaq Nears Key Psychological Level
Written on August 20, 2024 at 1:45 am, by pumarketings
Fundamental Analysis * Dropping Yields Support Equity: The US equity market remains resilient, with several analysts offering positive forecasts for its outlook. Bank of America analysts suggest that US equities are well-positioned to continue their upward trajectory, provided that economic growth remains stable. The potential for rate cuts from the Fed, coupled with stabilized andContinue Reading
