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Japanese Yen Strong on Heighten Likelihood of BoJ Rate Hike
Market Summary The Japanese yen strengthened further following an upbeat Tokyo CPI reading above 2%, reinforcing expectations of a potential BoJ rate hike. USD/JPY fell below the 150 level as market sentiment shifted. Meanwhile, the dollar remained subdued after Wednesday’s PCE report, with the Dollar Index retreating from the 106 mark, reflecting expectations of steadyContinue Reading
Gold Dips As Expectation Of Cautious Fed Weigh
Fundamental Analysis * Fed Watch Uncertainty: Gold prices which traded in U.S. dollars have declined by 3%, marking their steepest monthly drop of 2024. This decline came as expectations of a cautious Federal Reserve strengthened the U.S. dollar, putting pressure on the precious metal. After Donald Trump’s victory in the November presidential election, speculation grewContinue Reading
Dollar On The Brink, Job Data To Steer The Next Move
Monday, 2 December 2024, 17:00 – ISM Manufacturing PMI (Nov) Last month, the US economic activity in the manufacturing sector contracted once again, marking the seventh consecutive month of decline and the 23rd contraction in the past 24 months. The Manufacturing PMI dropped to 46.5 percent, down from 47.2 percent in September, reaching its lowestContinue Reading
