Monthly Archives: October 2024
41654156156Pound 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
Dow Jones Set New High on Earnings Optimism
Written on October 17, 2024 at 5:23 am, by pumarketings
Market Summary The Dow Jones continues its upward momentum, reaching a new all-time high as the market enters the 3rd quarter earnings season. Strong performances from mega-cap banks such as Goldman Sachs, Morgan Stanley, and Bank of America, which exceeded earnings expectations, have further fueled risk appetite in the U.S. equity market. This optimism hasContinue Reading
Gold Rises Following U.S Data Miss
Written on October 17, 2024 at 2:13 am, by pumarketings
Fundamental Analysis * Gold Glimmers: Gold continues to attract buying interest as market uncertainty, triggered by a dip in U.S. manufacturing data on Tuesday which could prompted a downward revision in the expected U.S. interest rate trajectory. The NY Empire State Manufacturing Index slipped into negative territory in October, registering -11.4, a sharp decline fromContinue Reading
