NEWS !!!! (10/15/24)

*GOLD*

Gold prices fell on Monday trading after the release of a series of data from China in the last 2 days. CPI growth is still weak while PPI is actually negative, in addition China's exports and imports are also low; an indication of an economic slowdown. China is the world's largest Gold consumer, an economic slowdown has the potential to reduce physical Gold demand.

*OIL*

Oil was most affected by China's poor economic data, falling sharply on Monday trading. China is the second largest Oil consumer after the United States, so the economic slowdown has triggered concerns about a decline in global demand.

*EURUSD*

EURUSD fell on Monday trading, touching its lowest level since August 8. China's poor economic data triggered demand for the US dollar as a safe haven which ultimately put pressure on EURUSD.

*GBPUSD*

GBPUSD was stagnant on Monday even though it had moved volatile at the start of trading. Without the release of important economic data from the UK and the United States, GBPUSD's movement was not large, and negative sentiment from the possibility of the BoE cutting interest rates aggressively still loomed.

*USDJPY*

USDJPY rose to its highest level since August 1 on Monday. China's economic slowdown has given the US dollar an advantage as a safe haven compared to the yen. This is because the interest rate gap between the Fed and the BoJ will remain wide for quite some time.

*Nasdaq*

Nasdaq rose sharply in early trading last week, ahead of the release of several issuers' financial reports. In addition, market players see the potential for the Chinese government to provide greater stimulus.