Monthly Archives: November 2024
Gold Rally Ahead of the U.S. Election
Written on November 1, 2024 at 6:54 am, by
Market Summary As the U.S. election draws near, safe-haven assets are gaining traction, with gold rallying back to its all-time highs and the U.S. dollar hovering close to recent peaks. Historical trends indicate that the Japanese yen tends to attract strong safe-haven demand during election years, having outperformed the dollar, Swiss franc, gold, and U.S.Continue Reading
Yen Capitulate Amid Political Uncertainty
Written on November 1, 2024 at 6:53 am, by
Market Summary Japan’s political landscape took centre stage this week after the Prime Minister called a snap election, following the ruling party’s loss of its parliamentary majority. This political uncertainty has led markets to believe the Bank of Japan may delay its next rate hike, causing the Yen to soften to a three-month low. Meanwhile,Continue Reading
BoJ Signal No Rate Hike Next Week
Written on November 1, 2024 at 6:52 am, by
Market Summary The Japanese Yen is likely to weaken further as BoJ Governor Kazuo Ueda signalled no intention to raise rates in the upcoming central bank meeting, even with the yen trading near a 3-month low. Ueda expressed concern about potential economic impacts tied to the upcoming U.S. presidential election, which could also weigh onContinue Reading
