Monthly Archives: October 2024
Gold Poise at Peak Level
Written on October 1, 2024 at 5:49 am, by
Market Summary The U.S. dollar continues to trade at its lowest levels, but the Dollar Index (DXY) has found support above 100.60, with bearish momentum easing. Market sentiment is largely driven by anticipation of another 50 bps rate cut by the Fed before year-end. This week’s GDP and PCE readings will be key in shapingContinue Reading
Wall Street Calm after Fed’s Rate Cut Rally
Written on October 1, 2024 at 5:44 am, by
Market Summary The U.S. dollar continues to trade at its lowest levels, but the Dollar Index (DXY) has found support above 100.60, with bearish momentum easing. Market sentiment is largely driven by anticipation of another 50 bps rate cut by the Fed before year-end. This week’s GDP and PCE readings will be key in shapingContinue Reading
Wall Street Rallies on Dovish Fed’s Policy
Written on October 1, 2024 at 5:43 am, by
Market Summary Wall Street surged with strong bullish momentum after digesting the FOMC interest rate decision on Wednesday. All three major U.S. equity indexes saw significant gains, with the Nasdaq leading the charge, closing up by more than 2.5%. This tech-heavy index, sensitive to interest rate changes, is expected to catch up to the DowContinue Reading
