Monthly Archives: June 2024
Soft PMI Reading Hammers Dollar Lower
Written on June 10, 2024 at 5:56 am, by
* U.S. Dollar continued to slide as the PMI readings came short. * Seeking today’s JOLTs job opening data to gauge the dollar’s strength. * Gold traded within its sideways range despite the dollar having been weakening. Market Summary The U.S. dollar remained on a downward trajectory following the release of yesterday’s PMI readings, whichContinue Reading
Soft PCE Boost Equity Market
Written on June 10, 2024 at 5:53 am, by
* Soft PCE reading hammered the dollar’s strength and improved stock market performance. * Eye on today’s U.K. and U.S. PMI readings. * Oil prices are expected to be hindered by the outcome of the OPEC meeting. Market Summary The highly anticipated U.S. PCE, the Fed’s preferred inflation gauge, met market expectations when released lastContinue Reading
All Eye On Today’s PCE Reading
Written on June 10, 2024 at 5:51 am, by
Market Summary The U.S. dollar failed to sustain its gains following the release of U.S. GDP data that fell short of expectations, coupled with Initial Jobless Claims that exceeded market forecasts. This has prompted a slight shift in market sentiment away from the expectation of a more hawkish Federal Reserve stance. All attention now turnsContinue Reading
