Monthly Archives: August 2024
Oil Price Soar on Geopolitical Tension
Written on August 29, 2024 at 10:15 am, by
Market Summary Geopolitical tensions in both the Middle East and Eastern Europe have escalated, creating significant unease in the broader financial markets. Adding to the uncertainty, market participants are positioning for a potential September Fed rate cut, which seems increasingly likely. In response to the geopolitical uncertainty, oil prices surged nearly 3% in yesterday’s session.Continue Reading
Gold Surge on Heightens Middle East Tension
Written on August 29, 2024 at 10:14 am, by
Market Summary Jerome Powell’s highly anticipated speech last Friday at the Jackson Hole Economic Symposium drove the dollar to its lowest level since last July. The Fed Chair expressed concerns about the U.S. job market and indicated confidence that the inflation rate will reach the 2% target, suggesting a dovish stance from the U.S. centralContinue Reading
BoJ Holds Firm on Tightening Path Fuels Yen
Written on August 29, 2024 at 10:13 am, by
Market Summary The Bank of Japan (BoJ) remains on course with its monetary tightening policy, according to the BoJ Chief, following his hearing at the Japan Lower House. However, he emphasised that there is no rush for the next rate hike, as the central bank continues to monitor global economic conditions. This hawkish stance hasContinue Reading
