Monthly Archives: August 2024
41654156156Quiet Before the Storm?Markets Poised for a Relaxed Week
Written on August 16, 2024 at 2:55 am, by pumarketings
Tuesday, 20 August 2024, 14:30 – Canada CPI (YoY) (Jul) For June 2024, Canada’s CPI rose by 2.7% year-over-year, down from 2.9% previously. This decrease in core inflation is driven by a combination of slower economic growth and moderated wage growth, even with a strong labor market. With the current monetary policy and expectations ofContinue Reading
Pound Sterling Gains Following Positive UK Data
Written on August 16, 2024 at 2:05 am, by pumarketings
Fundamental Analysis * Upbeat Data: The pound sterling gained against the dollar following positive U.K. data. Reports indicate that the U.K. economy grew as expected in the second quarter, with GDP increasing by 0.6% quarter-on-quarter and 0.9% year-on-year. The annual GDP growth figures showed a strong recovery from the previous 0.3% reading. Additionally, U.K. ManufacturingContinue Reading
Wall Street Rally on Soft CPI
Written on August 15, 2024 at 5:18 am, by pumarketings
Market Summary The most anticipated economic indicator of the week, the U.S. Consumer Price Index (CPI), was released yesterday, coming in at 2.9%, below the 3% threshold and in line with the Producer Price Index (PPI) data from the previous day. This further sign of easing inflationary pressure in the U.S. has heightened expectations thatContinue Reading
