Monthly Archives: October 2024
41654156156Heighten 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
Pound Sterling Declines as Likelihood of BoE Rate Cut Rises
Written on October 24, 2024 at 2:08 am, by pumarketings
Fundamental Analysis * Rising Odds: The British pound has continued to decline, hitting a ten-week low as dovish sentiment and growing expectations of a Bank of England (BoE) rate cut in November put pressure on the currency. Falling consumer and producer inflation figures, along with weak labor market data in the UK, are driving forecastsContinue Reading
U.S Dollar Jumps on Heightens Treasury Yield
Written on October 23, 2024 at 5:30 am, by pumarketings
Market Summary The U.S. dollar has continued to strengthen against major currencies, supported by a sharp rise in long-term Treasury yields, which have reached their highest level since July. The market appears to be pricing in a soft landing by the Federal Reserve, particularly as the U.S. presidential election nears. Investors are preparing for theContinue Reading
