Monthly Archives: October 2024
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
Jerome Powell Hawkish Statement Spurs Dollar
Written on October 14, 2024 at 6:14 am, by
Market Summary The U.S. dollar gained momentum following a hawkish statement from Fed Chair Jerome Powell, signalling that the Federal Reserve is not in a rush to accelerate rate cuts and is likely to maintain a quarter-point rate reduction in the near term. This boosted the Dollar Index (DXY), which rose over 0.5% in theContinue Reading
