Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
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.
