About: pumarketings
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USDCAD Fell On US Data, Fed Rate Cut Bets
Fundamental Analysis * Weak Data: The Canadian dollar has strengthened against the U.S. dollar following the release of disappointing economic data from the U.S. The Institute for Supply Management (ISM) reported that the Manufacturing Purchasing Managers Index (PMI) for September was 47.2, unchanged from the previous month and below the market expectation of 47.5. ThisContinue Reading
Jerome Powell Hawkish Statement Spurs Dollar
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
Trade of the Day: Dow Jones
Fundamental Analysis * Rate Cut Speculation: The Dow Jones has recently broken through the crucial Fibonacci expansion (38.2%) resistance level, signaling potential bullish momentum in the US equity market. Rising expectations that the Federal Reserve might consider cutting interest rates have contributed to this positive sentiment. According to the Bureau of Economic Analysis, the USContinue Reading
