Monthly Archives: June 2024
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
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