Monthly Archives: October 2024
Pound Lose Ground on BoE Dovish Tone
Written on October 14, 2024 at 6:17 am, by
Market Summary The Pound Sterling fell sharply yesterday, with the Pound Sterling Index (BXY) dropping more than 2% following a dovish statement from BoE Governor Andrew Bailey. Bailey indicated that the Bank of England is prepared to implement rate cuts if UK inflation shows signs of easing. Similarly, the Japanese Yen remained under pressure, asContinue Reading
Yen Capitulates on Ishiba Dovish Tone
Written on October 14, 2024 at 6:16 am, by
Market Summary Hong Kong’s stock rally paused in today’s session after the Chinese index surged by over 30% from its September lows. The equity market is now facing profit-taking pressure, with the Hang Seng Index down nearly 3% as of writing. In contrast, Japan’s Nikkei 225 jumped at the market’s open, driven by a surpriseContinue Reading
Geopolitical Tension Spurs Commodity Price
Written on October 14, 2024 at 6:15 am, by
Market Summary Middle East tensions took centre stage in the global financial markets during the last session as Iran fired missiles at Israel, with further retaliation expected, heightening geopolitical risks. This event fueled demand for safe-haven assets, leading gold to surge by over 1%, approaching its peak. Similarly, oil prices spiked by more than 3%,Continue Reading
