Monthly Archives: October 2024
41654156156Oil Prices Surge on Heightened Geopolitical Tension
Written on October 11, 2024 at 5:40 am, by pumarketings
Market Summary Oil experienced heightened volatility in yesterday’s session, with prices surging more than 3% as geopolitical risks escalated. The market reacted to reports that Israel plans to attack Iranian oil facilities, while the Houthis, a military rebel group, allegedly attacked an oil tanker in the Red Sea, raising concerns over potential disruptions to globalContinue Reading
USD Stays Strong: Can Next Week’s Data Fuel More Gains
Written on October 11, 2024 at 2:52 am, by pumarketings
Tuesday, 15 October 2024, 14:30 – Canada CPI (YoY)(Sep) The latest release of Canada’s Consumer Price Index (CPI) for August 2024 showed a year-over-year increase of 2.0%, down from the previous 2.5% in July. The figures landing on the Bank of Canada’s target for the first time since 2021, leaving the door open for moreContinue Reading
Gold Defies Strong CPI on Geopolitical Fears
Written on October 11, 2024 at 2:26 am, by pumarketings
Fundamental Analysis * Gold Surges Despite Better-than-Expected CPI? Gold initially declined after the inflation report but quickly rebounded as investors turned to safe-haven assets amid rising Middle East tensions. The recent Israeli airstrikes in Beirut fueled uncertainty, overshadowing the hotter-than-expected inflation data and reinforcing gold’s role as a hedge against geopolitical risks. This quick recoveryContinue Reading
