Monthly Archives: October 2024
Gold Prices Plunge on Fed’s Hawkish Prospect
Written on October 14, 2024 at 6:22 am, by
Market Summary Chinese equities, including the China A50 and Hang Seng Index (HSI), extended their losses following the resumption of trading after the National Day holiday. Poor holiday economic data, combined with growing skepticism around stimulus measures, sparked a sell-off in the market, with the HSI plunging nearly 10% since its last session. Meanwhile, U.S.Continue Reading
Oil Prices Bolster by Heighten Geopolitical Tension
Written on October 14, 2024 at 6:20 am, by
Market Summary Oil prices surged by nearly 4% in the last session, reaching a near two-month high as the confrontation between Israel and Iran-backed militaries escalated, sparking concerns over potential supply disruptions in the region, which accounts for a significant portion of global crude production. In contrast, gold prices remained stable, hovering above the $2,640Continue Reading
U.S. Jobs Report Boosts Dollar: Is a Rebound Ahead?
Written on October 14, 2024 at 6:18 am, by
Market Summary The Dollar Index surged to a seven-week high, driven by strong U.S. economic data, with Nonfarm Payrolls hitting 254,000 and the Unemployment Rate dropping to 4.1%. This data diminished expectations for a 50-basis-point rate cut, bolstering the dollar but weighing on gold as the stronger dollar overshadowed the metal’s safe-haven appeal. Oil pricesContinue Reading
