Monthly Archives: September 2024
Dollar Strengthen as Inflation Data Remain High
Written on September 4, 2024 at 2:09 am, by
Market Summary The highly anticipated PCE reading released last Friday catalysed the U.S. dollar, pushing it above its previous resistance level of $101.00 to reach a weekly high. While the Fed’s preferred inflation gauge came in lower than market expectations, it remained well above the 2% target, suggesting that the Fed may opt for aContinue Reading
Upbeat U.S. GDP Spurs Dollar Strength
Written on September 4, 2024 at 2:08 am, by
Market Summary The Dow Jones set a new milestone, rising to 41,577 points before experiencing a retracement. In contrast, the Nasdaq continues to struggle, weighed down by Nvidia’s earnings report, which appears to lack a significant “wow” factor. The Asian equity markets are expected to mirror the sentiment of the U.S. market and may endContinue Reading
