The second week of October trading began with optimism in North American equity markets despite increased Middle East tensions, ongoing war in Ukraine, a stronger than expected American economy, and weaker than expected numbers from China. China: The National Development & Reform Commission (NDRC), China’s state planner, stated that the …
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The USD/JPY pair is currently trading within a narrow range of 148.00 to 149.50, indicating a period of consolidation. While there is a slight upward bias, the pair has not yet broken out of this range. From a technical perspective, the momentum is currently bullish, but the Relative Strength Index …
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The S&P 500 and the Dow Jones Industrial Average reached new all-time highs on Friday, driven by a confluence of factors, including strong financial sector earnings, expectations of a Federal Reserve interest rate cut, and a generally positive economic outlook. Strong Bank Earnings: JPMorgan Chase and Wells Fargo: These two …
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The Dow Jones Industrial Average (DJIA) continued its impressive ascent, reaching a fresh all-time high on Friday as investors cheered a combination of favorable economic indicators and robust corporate performance. The benchmark index closed the day with a gain of over 400 points, reflecting a growing optimism about the overall …
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Dollar Remains Resilient Amidst Mixed Economic SignalsThe US Dollar continued to exhibit remarkable strength on Friday, even as mixed economic data emerged. While the Producer Price Index (PPI) for September came in slightly hotter than anticipated, suggesting persistent inflationary pressures, the preliminary reading of the University of Michigan Consumer Sentiment …
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Notwithstanding concerns surrounding a wider Middle East war, which could disrupt oil flows from the region, China stimulus disappointment and OPEC+ producer plans to bring barrels back in the coming months have put the crude oil market at risk of a sharp correction. The pending surplus in early-2025, stemming from …
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Gold (XAU/USD) extends its rally, trading in the $2,650s on Friday, after the release the the preliminary Michigan Consumer Sentiment Index showed a slide in sentiment in October. The Michigan Consumer Sentiment Index fell to 68.9 in October from 70.1 in the previous month and was below estimates of 70.8, …
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The US Dollar continued its upward trajectory, driven by sticky inflation data and hawkish comments from Federal Reserve officials. Investors are closely watching upcoming inflation metrics, including Producer Prices and Consumer Sentiment, for clues about the Fed’s future monetary policy.Key Points:US Dollar Strength: The US Dollar Index (DXY) reached new …
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Gold prices experienced a significant uptick on Thursday, October 10th, following the release of mixed economic data from the United States and comments from Federal Reserve officials. While a slight increase in inflation provided a temporary boost, the overall trend was influenced by the anticipation of potential interest rate cuts …
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Oil prices have been on a wild ride in recent weeks, driven by a perfect storm of geopolitical tensions and natural disasters. The escalating conflict between Israel and Iran, coupled with the devastating impact of Hurricane Milton on U.S. fuel supplies, has sent crude oil prices soaring. The Middle East, …
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