Monthly Archives: October 2024
41654156156Gold Surge to New High Amid Intensify Geopolitical Risk
Written on October 18, 2024 at 5:49 am, by pumarketings
Market Summary Gold surged to the $2700 mark in the last session as heightened geopolitical risks in the Middle East spurred demand for safe-haven assets. Reports of the Israeli military killing Hamas leader Yahya Sinwar, a key figure behind the attacks that escalated into the Gaza war, have intensified market concerns, driving gold’s upward momentum.Continue Reading
All Eyes on Canada Central Bank Next Week!
Written on October 18, 2024 at 2:30 am, by pumarketings
Wednesday, 23 October 2024, 15.45 – BoC Interest Rate Decision The latest Bank of Canada interest rate decision saw a 25-basis point cut on its previous meeting, bringing the key policy rate to 4.25%. This marks the third consecutive rate cut in 2024, a response to weakening economic conditions, such as reduced consumer spending, contractingContinue Reading
Pound Sterling Struggles Following Upbeat U.S Data
Written on October 18, 2024 at 2:19 am, by pumarketings
Fundamental Analysis * Weak Pound: The pound remains weak as the U.S. dollar strengthens, bolstered by stronger-than-expected U.S. economic data. U.S. Retail Sales rose by 0.4%, exceeding the 0.3% forecast and surpassing August’s 0.1% increase, with robust demand at retail and food stores and for clothing. Additionally, jobless claims dropped to 241K, below the expectedContinue Reading
