Monthly Archives: December 2024
Oil Jumps Ahead of OPEC Meeting

Written on December 29, 2024 at 11:37 pm, by
Market Summary The U.S. dollar held steady in the last session, with the dollar index (DXY) hovering near the 106.45 resistance level. The JOLTs job openings data exceeded market expectations at 7.744 million, yet investors adopted a cautious stance ahead of Friday’s critical Nonfarm Payrolls (NFP) report. Meanwhile, the euro recorded modest gains as politicalContinue Reading
Upbeat U.S. PMI Boost Dollar

Written on December 29, 2024 at 11:36 pm, by
Market Summary The dollar posted modest gains yesterday, bolstered by President-elect Trump’s remarks threatening BRICS and stronger-than-expected U.S. PMI data, which supported the greenback. However, the dollar faces key challenges ahead, including Wednesday’s job data, the Fed’s Beige Book, and Friday’s Nonfarm Payroll report. In contrast, weaker-than-expected PMI readings in the UK and Eurozone weighedContinue Reading
Japanese Yen Strong on Heighten Likelihood of BoJ Rate Hike

Written on December 29, 2024 at 11:35 pm, by
Market Summary The Japanese yen strengthened further following an upbeat Tokyo CPI reading above 2%, reinforcing expectations of a potential BoJ rate hike. USD/JPY fell below the 150 level as market sentiment shifted. Meanwhile, the dollar remained subdued after Wednesday’s PCE report, with the Dollar Index retreating from the 106 mark, reflecting expectations of steadyContinue Reading