Monthly Archives: November 2024
Japanese Yen Strong on Heighten Likelihood of BoJ Rate Hike
Written on November 29, 2024 at 5:40 am, by pumarketings
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 Decline on Easing Geopolitical Tension
Written on November 28, 2024 at 5:11 am, by pumarketings
Market Summary The U.S. Personal Consumption Expenditures (PCE) report, released yesterday, met market expectations but failed to deliver any surprises, resulting in continued weakness in the U.S. dollar. Simultaneously, long-term Treasury yields fell to their lowest levels in November. In contrast, the Japanese yen and euro emerged as the strongest currencies amid the dollar’s decline.Continue Reading
All Eye on Today’s PCE
Written on November 27, 2024 at 5:41 am, by pumarketings
Market Summary Ahead of today’s U.S. PCE reading, most asset classes remained steady as markets await direction. A higher-than-expected reading could bolster the dollar, pressuring other assets. Meanwhile, Wall Street extended gains, with the Dow Jones hitting a fresh all-time high. In forex, the New Zealand dollar unexpectedly rallied to its weekly high despite theContinue Reading
