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Market Analysis

October, 2024

  • 10 October 2024 2:10 am

    Market Drivers; US Session

    The US Dollar continued its upward trajectory, reaching new multi-week highs. This surge was primarily driven by rising interest rates and growing speculation that the Federal Reserve might implement a 25 basis point interest rate cut in November. These developments occurred ahead of the highly anticipated release of the US …

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  • 10 October 2024 1:41 am

    XAU/USD further declines following FOMC Minutes

    Gold declined as Fed Minutes revealed a “substantial majority” backed a 50 bps cut, while some preferred 25 bps. CME FedWatch Tool shows lower odds of a 25 bps cut, down to 75.9%, with rising expectations for a rate pause. US 10-year Treasury yield rises to 4.062%, supporting the US …

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  • 10 October 2024 12:02 am

    Markets Rally as FOMC Minutes Hint at More Rate Cuts

    Global stock markets and U.S. Treasury yields rose on Wednesday, following the release of minutes from the Federal Reserve’s September meeting. These minutes indicated that a “substantial majority” of Fed officials supported a larger-than-usual half-point rate cut to initiate a period of easier monetary policy. However, there was also a …

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  • 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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