Monthly Archives: September 2024
41654156156Libya Oil Field Shutdown Leads Oil Prices to Rebound
Written on September 3, 2024 at 5:34 am, by pumarketings
Market Summary Oil prices rebounded above the critical support level near the $73.00 mark, driven by several key factors. Libya’s key oil field shutdowns have led to a reduction of a million barrels in global daily oil supplies, significantly pushing oil prices higher in the last session. Additionally, the U.S. government is set to imposeContinue Reading
EUR/USD Slides As Dollar Continue Catches Friday Bid
Written on September 3, 2024 at 2:40 am, by pumarketings
Fundamental Analysis * Dollar Grab: EUR/USD tilted further into the red as the market continue to digest the U.S inflation on earlier Friday and rate cut expectation from Fed. The Federal Reserve (Fed) is almost certain to start reducing interest rates from the September meeting. However, signs of stickiness in the inflation data has weighedContinue Reading
Dollar Strengthen as Inflation Data Remain High
Written on September 2, 2024 at 5:50 am, by pumarketings
Market Summary The highly anticipated PCE reading released last Friday catalysed the U.S. dollar, pushing it above its previous resistance level of $101.00 to reach a weekly high. While the Fed’s preferred inflation gauge came in lower than market expectations, it remained well above the 2% target, suggesting that the Fed may opt for aContinue Reading
