Monthly Archives: July 2024
41654156156Oil Price Fell Following China Demand Fears
Written on July 30, 2024 at 2:03 am, by jonywang
Fundamental Analysis * Demand Drag: Crude oil prices continued to decline from the previous session due to worries about weakening demand from China, the world’s largest oil consumer. Recent data revealed an 11% drop in China’s total fuel oil imports during the first half of 2024 amid sluggish growth. Additionally, a series of disheartening economicContinue Reading
Soft PCE Hinders Dollar’s strength
Written on July 29, 2024 at 6:08 am, by jonywang
Market Summary The financial market has reacted to the highly anticipated U.S. inflation gauge preferred by the Federal Reserve, the PCE reading. The PCE came in line with market expectations at 2.5%, suggesting that inflationary pressure in the country is moving toward the targeted 2% rate and heightening the likelihood of a September Fed rateContinue Reading
Euro See Modest Gains On Fed Rate Cut Expectation
Written on July 29, 2024 at 2:24 am, by jonywang
Fundamental Analysis * Fed-Fueled: The EURUSD pair recorded mild gains against the dollar as traders continued to expect the September interest rate cut by the US Federal Reserve (Fed) in September, which dragged the Greenback lower. Recent US inflation, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, eased slightly fromContinue Reading
