Monthly Archives: June 2024
Market Awaits For Crucial NFP
Written on June 10, 2024 at 6:05 am, by
Market Summary All eyes are on today’s Nonfarm Payroll (NFP) and U.S. unemployment rate data, which could be the final piece of the puzzle for the Federal Reserve’s rate cut decision this year. Recent lackluster U.S. economic indicators, alongside monetary policy pivots from the Bank of Canada (BoC) and the European Central Bank (ECB), mayContinue Reading
Dollar Hammers By Soft U.S. Job Data
Written on June 10, 2024 at 5:59 am, by
Market Summary The ADP Nonfarm Employment Change data released yesterday provided a preview of the highly anticipated Nonfarm Payroll report due on Friday. The dollar tumbled to its lowest level in two months following the disappointing job data, which reinforced bets on a Federal Reserve rate cut. This speculation of a dovish shift in FedContinue Reading
Oil Plummet On U.S. Crude Inventory Surge
Written on June 10, 2024 at 5:56 am, by
Market Summary Oil prices experienced their steepest decline of 2024, dropping over 5%, following the release of the American Petroleum Institute (API) weekly crude data, which revealed an unexpected inventory build-up exceeding 4 million barrels. This surprise data, coupled with OPEC+’s decision to increase oil supply in the fourth quarter, exerted significant downward pressure onContinue Reading
