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Market Analysis

October, 2024

  • 9 October 2024 10:10 pm

    FOMC Minutes: Majority Backs Jumbo Cut, But Some Favor More Cautious Approach

    The Federal Reserve released minutes from its latest policy meeting on Wednesday, revealing a nuanced approach to monetary policy as the central bank navigates a complex economic landscape. While a majority of policymakers supported a 50 basis points (bps) reduction in the federal funds rate, the minutes also highlighted a …

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  • 9 October 2024 9:32 pm

    EUR/GBP Trades With No Clear Direction

    The EUR/GBP pair trades around 0.8380, consolidating sideways and displaying no clear trend. In addition, the cross lost the 20-day Simple Moving Average (SMA) which might a downwards leg. The technical indicators present that the bulls are backing off. The Relative Strength Index (RSI) is at 46 in negative territory …

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  • 9 October 2024 8:27 pm

    Why is ECB urged to adopt faster rate cuts?

    Yannis Stournaras, the governor of the Bank of Greece, has called for the European Central Bank (ECB) to accelerate its pace of interest rate cuts to prevent the Eurozone economy from suffering. He believes that the current “highly restrictive” rates pose a significant risk to economic growth.Stournaras, who is also …

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  • 9 October 2024 7:54 pm

    How can FOMC Minutes Affect the US Dollar?

    The Federal Reserve (Fed) is set to release the minutes from its September 17-18 policy meeting on Wednesday at 18:00 GMT. The meeting marked a significant shift in monetary policy as the central bank cut interest rates by 50 basis points, the first reduction in over four years.While the market …

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  • 9 October 2024 3:34 pm

    U.S. Stock Futures Dip Ahead of Fed Signals

    U.S. stock index futures edged lower early Wednesday, with Dow Jones Futures down 42 points (0.1%), S&P 500 Futures falling 7 points (0.1%), and Nasdaq 100 Futures slipping 40 points (0.2%). This follows Tuesday’s gains, driven by a surge in technology stocks, notably Nvidia, which rose 4%. Key Developments: Fed …

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  • 9 October 2024 1:06 pm

    RBNZ Cuts Rates by 50 Basis Points Amid Inflation Target Achievement

    New Zealand’s central bank, the Reserve Bank of New Zealand (RBNZ), reduced its cash rate by 50 basis points to 4.75% on Wednesday, aligning with market expectations. This marks the second consecutive rate cut, following a 25-basis-point reduction in August. Market Reactions The kiwi dollar dropped 0.9% to $0.6084, reaching …

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  • 9 October 2024 11:43 am

    European Stocks Trade Flat Amid Middle East Tensions, China Volatility

    European stock markets traded in a subdued manner on Wednesday as investor confidence was hit by ongoing conflict in the Middle East and market volatility in China. DAX (Germany): flatCAC 40 (France): down 0.1%FTSE 100 (U.K.): up 0.4% Concerns over China and Middle East Conflict European stocks were impacted by …

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  • 9 October 2024 9:49 am

    Gold Prices Fall as Traders Bet on Slower Fed Rate Cuts

    Gold prices extended their decline in Asian trading on Wednesday, as growing expectations of slower rate cuts by the Federal Reserve weighed on the market. A stronger U.S. dollar, supported by rising Treasury yields, added pressure on metals. Spot gold slipped 0.2% to $2,615.90 per ounce, while December gold futures …

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  • 9 October 2024 3:05 am

    US stocks climb on easing geopolitical tensions

    Stocks rebounded on Tuesday following a losing session on Wall Street, as oil prices eased and investors assessed ongoing tensions in the Middle East. The S&P 500 gained 0.97% to settle at 5,751.13, and the Nasdaq Composite rose 1.45% to finish at 18,182.92. The Dow Jones Industrial Average added 126.13 …

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  • 9 October 2024 1:44 am

    Dollar steadies while investors await drivers in CPI data

    The Dollar Index remains neutral on Tuesday near the key 103.00 level. Fed officials remain cautious about easing policy too much, too soon. CPI figures on Thursday will be key for DXY movement.The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, …

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  • 9 October 2024 12:13 am

    Fed’s Collins Expects Other Rate Cuts As Long As Inflation Eases

    Boston Fed president Susan Collins said Tuesday that the central bank will likely need to cut interest rates further and that the next phase of monetary policy should focus on preserving the economy. Pointing to the consensus among her colleagues for two more 25 basis point rate cuts this year, …

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  • 8 October 2024 11:00 pm

    Euro Attempts to Recover Following German Data

    The Euro is attempting to regain some of the ground it lost against the US Dollar in early morning trading on Tuesday, buoyed by positive economic data from Germany. This has managed to pull the Euro out of a six-day downward spiral. Germany’s industrial production index, a key indicator for …

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  • 8 October 2024 9:43 pm

    Dollar recovers from Yen’s pressure

    The US dollar staged a modest recovery on Tuesday after facing pressure from the Japanese yen in the previous session. The greenback drew support from recent developments, including hawkish comments from Federal Reserve officials and improved economic data.St. Louis Federal Reserve President, Matthew Mosallam, stated that “the cost of premature …

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