Monthly Archives: September 2024
All Eyes on Today’s U.S. NFP
Written on September 18, 2024 at 11:06 pm, by
Market Summary Ahead of today’s highly anticipated Nonfarm Payroll (NFP) report, the U.S. dollar remains under pressure, with major market players like Citigroup and JP Morgan betting on a larger rate cut from the Federal Reserve this month. The ADP Nonfarm Employment Change report, released yesterday, significantly missed market expectations, while unit labour cost growthContinue Reading
Dollar Eases Ahead of Key U.S. Job data
Written on September 18, 2024 at 11:05 pm, by
Market Summary The U.S. dollar lost strength after reaching a two-week high in the Dollar Index (DXY). The release of the Fed’s Beige Book indicated a decline in economic activity, a softening labour market, and moderating wage growth, which fueled speculation of a potential Fed rate cut. This dampened the dollar’s momentum, as traders nowContinue Reading
Wall Street Plummet on Poor PMI Reading
Written on September 18, 2024 at 11:04 pm, by
Market Summary Wall Street experienced a significant single-day sell-off yesterday, with the Nasdaq leading the decline, dropping more than 3%. Nvidia, a key player in the AI sector, saw a massive $279 billion loss in market value as its share price plunged by 9.5%. This sell-off was fueled by a softening market optimism after theContinue Reading
