Daily Economic Reports

The spillover from the Middle East crisis has disrupted crude oil markets, causing cargo ships to be diverted from the Red Sea for the foreseeable future. On Friday, there was a small increase in West Texas Intermediate (WTI) US Crude Oil, which hit 74.27, but a decline in American crude, …

The Dollar Index is currently trading just above 102.00, showing a downtick of 0.30% due to the markets adjusting dovish bets post the release of December’s Nonfarm Payrolls (NFP) and the ISM PMIs. Earlier on Friday, the dollar experienced a strong reaction to the recent NFP report in the United …

The dollar exhibited a robust performance on Friday, poised to conclude the week with its most significant gain since July. This surge is attributed to diminishing expectations of an imminent and substantial cut in interest rates for the year, a sentiment prevailing in the market ahead of the eagerly anticipated …

It is anticipated that the December NFP report will reveal a higher-than-anticipated number, with headline employment growth possibly falling between 170K and 225K. Economists and traders anticipate that the US added 168K net new jobs in the report, while average hourly wages increased by 0.3% m/m (3.9% y/y) and the …

The USD/JPY pair advanced 1% to the 147.70 level. US Jobless Claims for the week ending December 30 were reported at 202K, which was less than expected. With 164K new employment added in December, the US ADP Employment Change exceeded expectations.The pair rises while the US economy remains stable. The …

The dollar strengthened on Thursday, aligning with a reconsideration of expectations for the extent of the Federal Reserve’s interest rate reduction this year. This shift occurred amid market caution following a surge in risk appetite last month. In Asia, the dollar reached its highest levels against the yen in two …

Gold retreats to a two-week low as the FOMC minutes reveal no dovish slant even though they acknowledge progress in inflation. The US Dollar Index rises 1.11% while the precious metal struggles with a loss of nearly 1%, indicating strong USD performance. The market is focusing on December’s Nonfarm Payrolls …

The EUR/USD pair is attempting to regain support after retreating into the 1.0900 handle. According to the most recent meeting minutes, the Fed is trying to lower market expectations for rate cuts. Markets are concentrating on US PMI data on Wednesday due to the lack of EU data. The Fed …

According to meeting minutes made public on Wednesday, Federal Reserve policymakers agreed in December that interest rate reductions are probably going to happen in 2024, although they didn’t seem to specify when.A number of FOMC members stated that when bank reserves “are somewhat above the level judged consistent with ample,” …

The DXY Index is advancing with strong gains, recovering above the 20-day SMA, while US JOLTs Jobs Openings and ISM’s December Manufacturing PMI exceeded expectations. Dovish bets on the Fed have eased slightly, but remain high. The US Dollar Index has gained at 102.60, reclaiming the 20-day Simple Moving Average. …