Monthly Archives: October 2024
U.S. Jobs Report Boosts Dollar: Is a Rebound Ahead?
Written on October 14, 2024 at 6:19 am, by
Market Summary The Dollar Index surged to a seven-week high, driven by strong U.S. economic data, with Nonfarm Payrolls hitting 254,000 and the Unemployment Rate dropping to 4.1%. This data diminished expectations for a 50-basis-point rate cut, bolstering the dollar but weighing on gold as the stronger dollar overshadowed the metal’s safe-haven appeal. Oil pricesContinue Reading
Pound Lose Ground on BoE Dovish Tone
Written on October 14, 2024 at 6:17 am, by
Market Summary The Pound Sterling fell sharply yesterday, with the Pound Sterling Index (BXY) dropping more than 2% following a dovish statement from BoE Governor Andrew Bailey. Bailey indicated that the Bank of England is prepared to implement rate cuts if UK inflation shows signs of easing. Similarly, the Japanese Yen remained under pressure, asContinue Reading
Yen Capitulates on Ishiba Dovish Tone
Written on October 14, 2024 at 6:17 am, by
Market Summary Hong Kong’s stock rally paused in today’s session after the Chinese index surged by over 30% from its September lows. The equity market is now facing profit-taking pressure, with the Hang Seng Index down nearly 3% as of writing. In contrast, Japan’s Nikkei 225 jumped at the market’s open, driven by a surpriseContinue Reading
