Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
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Australia’s Labour Market Weakens as November Employment Drops Sharply 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
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.
