Market Update

The price of gold is facing difficulties in stretching its recovery move further ahead of US NFP data. The Fed might continue its interest rates on an elevated level for a longer period in light of the latest positive US ADP Employment Change data in addition to further dollar’s surge …

Binance’s attempt to acquire bankrupt crypto lender Voyager Digital is facing opposition from the US SEC and financial regulators. The SEC and US Trustee and state regulators from New Jersey and Vermont are concerned assets could be moved offshore. The commission has cast doubt on Binance’s financial ability to go …

Ethereum rebounded above $1,260 for the first time in three weeks, as whale transactions in the altcoin accelerated.Large wallet investors are interested in scooping up Ethereum as altcoins begin their recovery in 2023. Users are likely to prefer liquid staking as soon as they have completed their withdrawal from Ethereum’s …

WTI managed to trim some of its 9% losses attained during the week and reclaimed the $73.00 mark. Recessionary fears sparked by weak PMI readings in China and the US dampened oil investors’ appetite.The US crude oil benchmark, rebounds around month lows of $72.50 per barrel and climbs above the …

Natural gas futures touched fresh levels in the green territory marking the first gain in 2023, amid estimates for a massive storage withdrawal report. After dropping 48.7 cents on Tuesday, and closing below $4.00, the February Nymex natural gas futures contract on Wednesday gained 18.4 cents day/day and settled at …

The US Dollar sharply surges on the back of fresh US economic data, so far the Dollar Index has hit highest in almost one month. The USD/CAD pair rebounds from 1.3475 toward 1.3600 ahead of the awaited US and Canadian employment reports on Friday. The USD/CAD is up on Thursday …

After US ADP Employment Change crushed estimates, while unemployment claims missed estimates, foreseeing a solid US Nonfarm Payrolls report, the Australian dollar loses ground against the US counterpart. After economic data revealed in the United States confirming a robust labour market, traders’ speculations augmented that the Fed would continue tightening …

The EUR/USD pair’s upside momentum faltered once again around 1.0530. The breakout of that resistance could lead up to a test of 1.0713. The EUR/USD pair gives away initial gains and sinks in the red territory below the 1.0500 support on Thursday. The constructive outlook for EUR/USD should remain unchanged …

The buoyancy of nonfarm payroll growth has seemed at probabilities with other signs that the jobs market is beginning to sour. As a result, we look for nonfarm payroll growth to decrease noticeably in the months ahead, starting with December’s employment report showing hiring slowing to 205,000. Demand for employees …

There were 204,000 initial jobless claims in the week ending December 31, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 223,000 and came in better than the market expectation of 225,000. Further details of the publication …