China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …
Read More »Financial Markets’ Weekly Recap, July 10-14
After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …
Read More »Noor Capital | Mohammed Hashad Interview on Dubai TV – 14 July 2023
Mohamed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on global financial market developments, particularly expectations related to a US interest rate hike and whether the Federal Reserve has reached or about to reach the end of its monetary …
Read More »Dollar is near its lowest level in 15 months, with expectations that the US interest rate hike will stop soon
The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …
Read More »Gold maintains choppy performance despite dollar’s losses
Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …
Read More »Dollar is falling ahead of US inflation data, and sterling is at its highest level in 15 months
The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …
Read More »Bank of Canada expected to hike by 25 basis points
The Bank of Canada is set to announce its Interest Rate Decision on Wednesday, July 12 at 14:00 GMT. The BoC is expected to hike rates by 25 basis points (bps) to 5.00%, contrary to its pause hints1. The decision will be published alongside a Monetary Policy Report, containing updated …
Read More »Investors confused over Bitcoin’s recent range
A short-term decline to $27,330 is anticipated to follow the price consolidation of bitcoin. A sell signal for ethereum causes an initial slump, but bears aim for $1,767. The $0.433 and $0.413 steady support levels will likely be retested by the ripple price. The price of bitcoin is still fluctuating …
Read More »Dollar falls to its lowest level in two months and pound rises
The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …
Read More »Türkiye gives the green light to Sweden’s bid to join NATO
Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …
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