Monthly Archives: August 2024
41654156156Japanese Yen Remains Weak On Dovish BoJ
Written on August 9, 2024 at 2:10 am, by pumarketings
Fundamental Analysis * Yen Woes: The Japanese Yen continues to weaken against the dollar as the market processes dovish statements from the Bank of Japan (BoJ). According to Reuters, BoJ Deputy Governor Shinichi Uchida recently stated that the BoJ would not consider raising interest rates amidst market instability. He also mentioned that the BoJ’s interestContinue Reading
Oil Prices Surge on Libya Oil Production Close-down
Written on August 8, 2024 at 5:23 am, by pumarketings
Market Summary The U.S. dollar remains stable amidst significant market volatility this week. The low NFP reading from last Friday has cast a shadow over the economic outlook, and the Yen carry trade situation may worsen if the BoJ continues to tighten its monetary policy. Traders are closely watching today’s U.S. job data, including initialContinue Reading
GBP/USD Struggles On BoE Rate Cut Bets, Civil Unrest
Written on August 8, 2024 at 2:19 am, by pumarketings
Fundamental Analysis * Cable Struggle: The pound sterling continues to experience downward pressure as markets speculate about the possibility of two additional interest rate cuts from the Bank of England (BoE) this year. Recently, the BoE reduced interest rates for the first time since March 2020, lowering the bank rate by 0.25 percentage points toContinue Reading
