Monthly Archives: June 2024
41654156156Loonie Gains Following Dollar Retreat, Oil Support
Written on June 25, 2024 at 2:23 am, by jonywang
Fundamental Analysis * Buck Backslide: The Canadian Loonie continues to gain strength against the US Dollar, which is experiencing a slight decline due to profit-taking in the absence of significant fundamental drivers. With limited new information for investors to consider, market sentiment is currently aimless as attention turns to forthcoming data for direction. Additionally, theContinue Reading
Japan Warns For Market Intervention To Protect Yen
Written on June 24, 2024 at 6:02 am, by jonywang
Market Summary All eyes are on the Japanese Yen as it continues its downward slide against its peers, notably experiencing a 3% decline against the dollar in June. As the USD/JPY pair approaches the critical 160 mark, Japan’s top currency official has heightened concerns by stating that Japanese authorities are prepared to intervene in theContinue Reading
Oil Price Ease On Strong Dollar, Mixed Global Economic News
Written on June 24, 2024 at 2:04 am, by jonywang
Fundamental Analysis * Solid Green: Crude prices dropped by about 1% on Friday due to concerns that global oil demand growth might be affected by a strong U.S. dollar and negative economic news from various regions. The U.S. dollar reached a seven-week high against a basket of other currencies, with the Federal Reserve’s cautious approachContinue Reading
