Monthly Archives: October 2024
41654156156BoJ Signal No Rate Hike Next Week
Written on October 25, 2024 at 5:24 am, by pumarketings
Market Summary The Japanese Yen is likely to weaken further as BoJ Governor Kazuo Ueda signalled no intention to raise rates in the upcoming central bank meeting, even with the yen trading near a 3-month low. Ueda expressed concern about potential economic impacts tied to the upcoming U.S. presidential election, which could also weigh onContinue Reading
Gold 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
