Market Update

Tuesday saw a decline in US stocks as investors continued to monitor the direction of interest rates following a mediocre start to the earnings season that was marked by significant bank results.The S&P 500 fell 0.2% and the Dow Jones Industrial Average fell 0.4%. Despite briefly entering positive territory during …

The price of gold is trading around $2,035.03 per ounce at the time of writing. That’s down 0.94% since yesterday’s gold price per ounce and down 1.39% from the beginning of the year. The lowest trading price within the last 24 hours: $2,031.51 per ounce. The highest gold spot price …

Fed Governor Christopher Waller has warned that despite data developments in the inflation outlook allowing the Fed to begin outlining plans for rate cuts looking forward, markets shouldn’t be expecting the Fed to rush anytime soon.Money markets adjusted rate cut bets after Waller’s notes, Fed swaps now see 15 basis …

The UK’s Consumer Price Index (CPI) report is set to be released on Wednesday, January 17, with major banks forecasting the upcoming inflation print. The looming data follows a weak November report, with core inflation falling slightly to just below 5% year-on-year for the first time since January 2022. Headline …

Japan’s largest shipping company, Nippon Yusen (NYK Line), has announced the suspension of all its ships’ passage through the Red Sea. The decision comes in the wake of advice from the joint naval force “Guardian of Prosperity” to avoid the region following the recent US and British strikes against Houthi …

Oil prices experienced a slight uptick on Tuesday, driven by escalating conflict in the Middle East. Ship tracking data indicated an increased number of tankers diverting away from the Red Sea following attacks by Yemen’s Houthi movement in the region. Brent crude futures saw a rise of 12 cents, approximately …

Gold faced a marginal decline on Tuesday, influenced by a strengthening dollar and rising US Treasury bond yields. The precious metal saw a 0.2 percent decrease in spot transactions, settling at $2,050.35 per ounce, while US gold futures experienced a modest 0.1 percent increase, reaching $2,054.10. The rise in the …

The dollar gained ground on Tuesday as investors tempered their expectations of imminent interest rate cuts by the Federal Reserve, influenced by hawkish comments from European Central Bank officials. Meanwhile, concerns over potential attacks on ships in the Red Sea contributed to a reduced appetite for risk. Here’s a breakdown …

Market Drivers – US Session, January 15The firm demand for the dollar encouraged the USD Index to add to last Friday’s gains on the back of the resurgence of risk aversion bolstered by geopolitical concerns, particularly in the Middle East. The DXY has extended its consolidative theme in place since …

Gold price surged due to geopolitical risks in the Middle East. Market expectations of Fed rate cuts in 2024 have boosted Gold’s appeal against a weakening Dollar. The ongoing geopolitical tensions increased risk aversion, with the US and UK retaliating against Iran-backed groups. The US Fed’s increasing odds of cutting …