Monthly Archives: October 2024
All Eyes on Canada Central Bank Next Week!
Written on October 18, 2024 at 2:30 am, by pumarketings
Wednesday, 23 October 2024, 15.45 – BoC Interest Rate Decision The latest Bank of Canada interest rate decision saw a 25-basis point cut on its previous meeting, bringing the key policy rate to 4.25%. This marks the third consecutive rate cut in 2024, a response to weakening economic conditions, such as reduced consumer spending, contractingContinue Reading
Dow Jones Set New High on Earnings Optimism
Written on October 17, 2024 at 5:23 am, by pumarketings
Market Summary The Dow Jones continues its upward momentum, reaching a new all-time high as the market enters the 3rd quarter earnings season. Strong performances from mega-cap banks such as Goldman Sachs, Morgan Stanley, and Bank of America, which exceeded earnings expectations, have further fueled risk appetite in the U.S. equity market. This optimism hasContinue Reading
Gold Price Soar on Geopolitical Tension
Written on October 16, 2024 at 5:39 am, by pumarketings
Market Summary Wall Street saw a retracement in the last session, with a similar sentiment spreading to the Asian markets during the Tokyo session, where the Chinese equity market led the decline. This sell-off is believed to have been triggered by ASML, the world’s most advanced chip making machines manufacturer, missing its earnings target, indicatingContinue Reading
