Dollar Strengthens Amid Rising Yields, Renewed “Trump Trade”The US Dollar Index (DXY) continued its upward trajectory on Tuesday, October 22, approaching three-month highs as investors responded to higher interest rates and a resurgence of the “Trump trade.” Key economic events and speeches from Federal Reserve officials will shape the market’s …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
October, 2024
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21 October 2024 10:44 pm
Dow Jones Sheds 330 Points as Bullish Momentum Pauses
Dow Jones Industrial Average (DJIA) experienced a setback on Monday, declining by 330 points (0.8%) as equity markets retreated from recent record highs.The decline was primarily attributed to a pause in bullish momentum, with the Dow Jones bearing the brunt of the sell-off. Investors grappled with conflicting factors: the anticipation …
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21 October 2024 9:01 pm
Dollar Holds Steady Amid Geopolitical Tensions, Fed Comments
The US Dollar maintained its strength on Monday, buoyed by escalating tensions in the Middle East and supportive remarks from Federal Reserve officials. However, profit-taking activity tempered the Greenback’s gains, as investors digested positive economic news from China and its government’s stimulus measures.Geopolitical Tensions: The ongoing tensions in the Middle …
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21 October 2024 8:25 pm
EUR/USD could resume declining as ECB considers further cut rates
The EUR/USD exchange rate is likely to continue falling as the European Central Bank is expected to lower interest rates again. The value of the EUR/USD pair is currently at 1.0800, but its future direction is uncertain due to expectations that the ECB will adopt a more lenient monetary policy. …
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21 October 2024 7:15 pm
Fed’s Logan Hints at Gradual Rate Cuts
Federal Reserve Bank of Dallas President Lorie Logan suggested on Monday that the Fed may gradually lower interest rates in the future, provided the economy continues to perform as expected. She also indicated that the Fed plans to continue reducing its balance sheet.Logan highlighted the following key points:Economic Stability: The …
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21 October 2024 3:33 pm
China’s Central Bank Launches $7 Billion Swap to Support Stock Market
China’s central bank, the People’s Bank of China (PBOC), initiated its first swap operations on Monday under a newly established facility aimed at stabilizing the stock market. The PBOC exchanged assets worth 50 billion yuan ($7 billion) with brokerages, fund companies, and insurers as part of the move. In the …
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21 October 2024 3:09 pm
Oil Prices Rebound as Concerns Over China and Middle East Ease
Oil prices rose on Monday, recovering some of last week’s steep losses driven by concerns over China’s economic slowdown and easing tensions in the Middle East. Brent crude futures increased by $1.16, or 1.6%, to $74.22 per barrel at 1036 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.32, …
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21 October 2024 2:03 pm
European Shares Struggle Ahead of Key Corporate Earnings, Energy Stocks Lead Gains
European shares wavered on Monday after two consecutive weeks of gains, as investors awaited key corporate earnings reports, with stabilizing oil prices supporting the energy sector. The pan-European STOXX 600 index remained flat at 0845 GMT, fluctuating between minor gains and losses. Last week, the STOXX 600 gained momentum following …
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21 October 2024 12:57 pm
U.S. Dollar Gains Momentum Amid Rising Trump Election Prospects
The U.S. dollar strengthened on Monday, building on its recent gains as the U.S. presidential election approaches, with growing expectations that former President Donald Trump may secure a victory in the 2024 race. At 04:30 ET (08:30 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose …
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21 October 2024 11:33 am
Oil Prices Edge Higher After Last Week’s Slump Amid China Demand Concerns and Middle East Tensions
Oil prices rose slightly in Asian trading on Monday, following a sharp decline last week driven by worries over slowing demand in China, the world’s largest oil importer, and easing concerns about supply disruptions in the Middle East. Brent crude futures gained 0.37%, or 27 cents, to trade at $73.33 …
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21 October 2024 10:38 am
Bitcoin Surges to Three-Month High Amid Speculation of Trump 2024 Victory
Bitcoin prices climbed on Monday, briefly reaching a three-month high as speculation grew over Donald Trump’s chances of winning the 2024 U.S. presidential election. The world’s largest cryptocurrency has seen a sharp rally over the past week, spurred by polls and prediction markets indicating a potential Trump victory, though analysts …
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21 October 2024 9:46 am
Gold Surges to Record High Amid U.S. Election Uncertainty and Middle East Tensions
Gold prices soared to a new record in Asian trading on Monday, driven by increased safe-haven demand as geopolitical tensions in the Middle East intensified and uncertainty loomed over the upcoming U.S. presidential election. Spot gold climbed 0.4% to $2,732.86 per ounce, while December gold futures rose 0.6%, reaching $2,747.70 …
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21 October 2024 12:54 am
Weekly Recap: Market Rollercoaster Starring Geopolitics, Tech Tumble, and Alpha Picks Shine
This week, global stock markets continued their upward trajectory, driven primarily by robust performance in tech stocks as well as positive sentiment surrounding China’s economic stimulus measures. Major US indices, including the S&P 500 and the Dow Jones Industrial Average, reached fresh all-time highs, extending their winning streaks to six …
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