Monthly Archives: November 2024
Dollar Pauses as Jobs Data Looms
Written on November 1, 2024 at 6:56 am, by
Market Summary Despite strong U.S. economic data, the U.S. dollar saw a slight retreat as investors await the upcoming U.S. election and Nonfarm Payrolls report. Resilient figures, including a stable Core PCE Price Index at 2.70% and reduced Initial Jobless Claims (216K), highlight steady U.S. economic strength, which may influence future dollar trends. The EuroContinue Reading
Dollar Eases as GDP Come Soft
Written on November 1, 2024 at 6:55 am, by
Market Summary The dollar faced pressure from the GDP reading released yesterday, which came in lower than market expectations. However, amidst prevailing risk-off sentiment, the dollar managed to find support above the $104.00 mark. Today’s highly anticipated U.S. PCE reading, the Fed’s preferred inflation gauge, is expected to provide crucial insights into upcoming monetary policyContinue Reading
Gold Sky-rocket with the U.S. Election Jitters
Written on November 1, 2024 at 6:55 am, by
Market Summary Gold surged to an all-time high in the last trading session, climbing above the $2,780 mark. Multiple bullish factors have fueled this rally, including intensifying geopolitical tensions in the Middle East and Eastern Europe, which have heightened demand for safe-haven assets. Additionally, as markets brace for the U.S. election, investors are showing aContinue Reading
