Monthly Archives: October 2024
41654156156Gold Testing Resistance: Potential Breakout Amid Risk-off Sentiment?
Written on October 25, 2024 at 1:13 am, by pumarketings
Fundamental Analysis * Risk-Off Sentiment: In the short term, better-than-expected US economic data has shifted market sentiment, sparking a selloff in gold as investors gravitate towards riskier assets. Nonetheless, the long-term outlook for gold remains bullish, driven by heightened geopolitical tensions in the Middle East and the uncertainty surrounding the upcoming US Presidential Election. Additionally,Continue Reading
Will PCE and NFP Boost Chances of Slower Rate Cuts?
Written on October 24, 2024 at 9:15 am, by pumarketings
Wednesday, 30 October 2024, 14.15 – ADP Nonfarm Employment Change (Oct) The U.S. private payrolls increased more than expected in September, boosted by hiring in the construction, leisure and hospitality industries, adding to the evidence of a stable labor market. Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000Continue Reading
Heighten Geopolitical Tension Hit on Wall Street
Written on October 24, 2024 at 6:03 am, by pumarketings
Market Summary Wall Street was hit hard by the escalating geopolitical tensions in the Middle East, with Israel and Hezbollah exchanging heavy fire. The Dow Jones led the decline, closing around 400 points lower, marking a nearly 2% drop from its all-time peak. As earnings season progresses, market participants are bracing for volatile price actionContinue Reading
