Monthly Archives: November 2024
Dollar Eases as GDP Come Soft
Written on November 1, 2024 at 6:55 am, by
Market Summary The dollar faced pressure from the GDP reading released yesterday, which came in lower than market expectations. However, amidst prevailing risk-off sentiment, the dollar managed to find support above the $104.00 mark. Today’s highly anticipated U.S. PCE reading, the Fed’s preferred inflation gauge, is expected to provide crucial insights into upcoming monetary policyContinue Reading
Gold Sky-rocket with the U.S. Election Jitters
Written on November 1, 2024 at 6:55 am, by
Market Summary Gold surged to an all-time high in the last trading session, climbing above the $2,780 mark. Multiple bullish factors have fueled this rally, including intensifying geopolitical tensions in the Middle East and Eastern Europe, which have heightened demand for safe-haven assets. Additionally, as markets brace for the U.S. election, investors are showing aContinue Reading
Gold Rally Ahead of the U.S. Election
Written on November 1, 2024 at 6:54 am, by
Market Summary As the U.S. election draws near, safe-haven assets are gaining traction, with gold rallying back to its all-time highs and the U.S. dollar hovering close to recent peaks. Historical trends indicate that the Japanese yen tends to attract strong safe-haven demand during election years, having outperformed the dollar, Swiss franc, gold, and U.S.Continue Reading
