Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
On October 24, 2024, the forex markets saw some significant movements influenced by economic data and market feelings. Here are the main points:
EUR/USD Movement: The EUR/USD pair bounced back, trading above 1.0800 after Germany and Eurozone released PMI data showing a slower contraction in economic activity, which helped the Euro against the US Dollar.
GBP/USD Performance: The GBP/USD pair held steady around 1.2950 even though the UK's preliminary Composite PMI dropped slightly from 52.6 to 51.7, making it harder for the Pound to strengthen further.
Market Sentiment: The US Dollar was strong overall due to investors seeking safety ahead of the upcoming US presidential election, putting pressure on other currencies like the Euro, which struggled with slow growth data from the Eurozone.
The USD/JPY pair fell to about 152.04, down 0.48% from the previous day, showing that the yen is losing value amid political uncertainty in Japan ahead of the weekend's general election. This decline is influenced by a stronger US dollar due to rising Treasury yields and good economic data from the U.S. Additionally, Japan's private sector activity shrank for the first time in four months, raising concerns about future monetary policy from the Bank of Japan. Traders are cautious as they wait for election results, and the government is monitoring currency movements closely due to recent volatility.
Gold Prices: Gold prices climbed back to about $2,736-$2,737, supported by a weaker US Dollar, making it a more attractive investment.
Overall, forex traders reacted to mixed economic signals and global factors, causing fluctuations in major currency pairs on that day.
