Monthly Archives: December 2024
41654156156Pound Tumbles As Strong US Data Boost Greenback
Written on December 20, 2024 at 2:06 am, by pumarketings
Fundamental Analysis * Sterling Slide: The pound sterling has plummeted against the dollar, weighed down by strong U.S. jobs data and a solid GDP report. Data released before the New York session indicated a resilient labor market and continued economic growth. Initial Jobless Claims for the week ending December 14 dropped from 242K to 220K,Continue Reading
Dollar Jumps on Fed’s Hawkish Remark
Written on December 19, 2024 at 5:19 am, by pumarketings
Market Summary The FOMC interest rate decision yesterday triggered significant market volatility, with all eyes on the Federal Reserve’s hawkish stance. Jerome Powell’s remarks signaling fewer rate cuts in 2025 and the expectation that the Fed funds rate will remain near the 4% level to curb inflation drove the U.S. dollar higher. The dollar indexContinue Reading
Gold Price Slides As Fed Turned Less Dovish.
Written on December 19, 2024 at 2:37 am, by pumarketings
Fundamental Analysis * • Hawkish Note: The euro edged slightly higher against the dollar, showing modest gains but lacking strong momentum following the release of the latest EU Manufacturing PMI data. According to the Hamburg Commercial Bank (HCOB), the Eurozone Manufacturing PMI improved to 45.2 in December, surpassing the forecast of 45.0. Additionally, the bloc’sContinue Reading
