Monthly Archives: October 2024
41654156156USDJPY Gains On Firm Dollar, Weak Japan Data
Written on October 9, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Spending Slump: The Japanese yen continued to weaken against the U.S. dollar, as the greenback maintained its strength amid reduced expectations of a larger-than-expected rate cut. According to the CME FedWatch tool, traders have adjusted their projections for the Federal Funds rate in November, now expecting a 25-basis point cut, which wouldContinue Reading
Oil Prices Bolster by Heighten Geopolitical Tension
Written on October 8, 2024 at 5:31 am, by pumarketings
Market Summary Oil prices surged by nearly 4% in the last session, reaching a near two-month high as the confrontation between Israel and Iran-backed militaries escalated, sparking concerns over potential supply disruptions in the region, which accounts for a significant portion of global crude production. In contrast, gold prices remained stable, hovering above the $2,640Continue Reading
Aussie Slips Following RBA Meeting Minutes, Strong Dollar
Written on October 8, 2024 at 1:51 am, by pumarketings
Fundamental Analysis * Cautious Approach: The Australian dollar continues to weaken against the U.S. dollar as markets digest the RBA’s September meeting minutes, which reveal a cautious stance. The Reserve Bank of Australia’s board discussed potential future interest rate cuts and hikes but concluded that the current cash rate remains the best option to balanceContinue Reading
