Yearly Archives: 2024
Geopolitical Tension Spurs Commodity Price
Written on October 2, 2024 at 5:58 am, by pumarketings
Market Summary Middle East tensions took centre stage in the global financial markets during the last session as Iran fired missiles at Israel, with further retaliation expected, heightening geopolitical risks. This event fueled demand for safe-haven assets, leading gold to surge by over 1%, approaching its peak. Similarly, oil prices spiked by more than 3%,Continue Reading
Jerome Powell Hawkish Statement Spurs Dollar
Written on October 1, 2024 at 5:30 am, by pumarketings
Market Summary The U.S. dollar gained momentum following a hawkish statement from Fed Chair Jerome Powell, signalling that the Federal Reserve is not in a rush to accelerate rate cuts and is likely to maintain a quarter-point rate reduction in the near term. This boosted the Dollar Index (DXY), which rose over 0.5% in theContinue Reading
Yen Strengthens After Ishiba Wins Leadership Vote
Written on September 30, 2024 at 5:56 am, by pumarketings
Market Summary The financial markets were shaken by the unexpected victory in the Japan’s ruling party’s leadership race, which is set to replace the current Prime Minister of Japan. The win by Shigeru Ishiba, seen as favouring a more hawkish stance on monetary policy, led to a significant strengthening of the Japanese Yen, as hisContinue Reading
