Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Trump, Xi Focus on Trade and AI at White House Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
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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.
