Monthly Archives: August 2024
Dollar Pressures by Dovish Fed Remark
Written on August 20, 2024 at 5:07 am, by pumarketings
Market Summary The Dollar Index (DXY) remains under pressure as dovish comments from multiple Federal Reserve officials suggest the possibility of a rate cut in the near future. Traders are now eagerly awaiting Wednesday’s FOMC meeting minutes for further insight into the Fed’s upcoming monetary policy moves. Meanwhile, Wall Street rallied last night, fueled byContinue Reading
Gold Price Tops $2500 For the First Time
Written on August 19, 2024 at 5:43 am, by pumarketings
Market Summary Gold prices soared above the $2,500 mark for the first time, driven by expectations of potential interest rate cuts, which have weakened the dollar to its recent low levels. Market participants are now focused on Wednesday’s FOMC meeting minutes for insights into the Fed’s next monetary policy moves. Additionally, Federal Reserve Chair JeromeContinue Reading
Dollar Rebound On Upbeat U.S. Economic Indicators
Written on August 16, 2024 at 5:41 am, by pumarketings
Market Summary The U.S. dollar rebounded after being weighed down earlier in the week by softer-than-expected PPI and CPI readings. The turnaround was driven by stronger-than-anticipated U.S. Retail Sales growth and Initial Jobless Claims, which eased recession fears and bolstered the dollar’s strength in the last session. Wall Street reacted positively to the upbeat economicContinue Reading
