Monthly Archives: August 2024
41654156156Recession Concerns Ease: Can the U.S. Sustain Its Momentum?
Written on August 23, 2024 at 2:20 am, by pumarketings
Tuesday, 27 August 2024, 16:00 – US CB Consumer Confidence (Aug) The U.S. Conference Board Consumer Confidence Index rose to 100.3 in July 2024, up from a revised 97.8 in June. This growth was mainly driven by improved consumer expectations regarding future economic conditions, even as views on the present situation slightly weakened. The PresentContinue Reading
USD/CAD Fell After U.S PMI data
Written on August 23, 2024 at 2:07 am, by pumarketings
Fundamental Analysis * PMI Drag: The USD/CAD pair was traded in a softer tone after the release of PMI data from S&P Global. According to data, the US Composite Purchasing Managers Index (PMI) fell slightly to 54.1 in August’s flash estimate. While the figure came in higher than expected of 53.5, it was the lowestContinue Reading
Dovish FOMC Meeting Minutes Hammers Dollar
Written on August 22, 2024 at 6:33 am, by pumarketings
Market Summary The dollar continued to face downside pressure following the release of the FOMC meeting minutes. Concerns were raised by FOMC members over potential labour market deterioration, with the majority of the members signalling that a September rate cut might be appropriate. This dovish narrative provided buoyancy to the equity market, as all majorContinue Reading
