Monthly Archives: September 2024
41654156156Yen Gains On Positive Data, BoJ Rate Hike Speculation
Written on September 6, 2024 at 1:59 am, by pumarketings
Fundamental Analysis * Data-driven: The Japanese Yen continues to strengthen against the U.S. dollar, supported by recent positive data from Japan. In July, Japan’s Labor Cash Earnings increased by 3.6% year-on-year, a slowdown from June’s 4.5% rise where it was the highest since January 1997, but still exceeding market expectations of 3.1%. This robust performanceContinue Reading
Dollar Eases Ahead of Key U.S. Job data
Written on September 5, 2024 at 5:34 am, by pumarketings
Market Summary The U.S. dollar lost strength after reaching a two-week high in the Dollar Index (DXY). The release of the Fed’s Beige Book indicated a decline in economic activity, a softening labour market, and moderating wage growth, which fueled speculation of a potential Fed rate cut. This dampened the dollar’s momentum, as traders nowContinue Reading
Gold Recovers Following Weak US Jobs Opening Data
Written on September 5, 2024 at 2:00 am, by pumarketings
Fundamental Analysis * Labor Market Slip: Gold prices have regained their footing following the release of U.S. Job Openings data, which revealed fewer openings than anticipated for July. According to the U.S. Bureau of Labor Statistics, the JOLTS Job Openings dropped to 7.673 million in July, down from a downwardly revised 7.91 million in June.Continue Reading
