Data released on Friday revealed that residential property prices in Germany plummeted by 8.4% in 2023 compared to the previous year, marking a significant downturn for the real estate sector in Europe’s largest economy. This decline represents the largest drop since Germany’s statistics office began keeping records in 2000, highlighting …
Read More »British Retail Sales Remain Steady in February
British retail sales defied expectations by holding steady in February, following a revised 3.6% increase in January, according to figures released by the Office for National Statistics on Friday. Economists surveyed by Reuters had anticipated a 0.3% decline in sales volumes for the month. Heather Bovill, senior statistician at the …
Read More »Oil Prices Slip Amid Gaza Ceasefire Prospects and Dollar Strength
Oil prices dipped on Friday amidst speculation of an imminent ceasefire in Gaza, potentially easing geopolitical tensions in the Middle East. Additionally, a stronger dollar and subdued U.S. gasoline demand weighed on market sentiment. Brent crude futures edged lower by 53 cents, or 0.6%, to $85.25 a barrel, while U.S. …
Read More »Market Drivers; US Session, March 21
As investors continued to process the most recent FOMC meeting and the prospect of three rate reduction by the Fed this year, risk aversion made a comeback on Thursday across markets and traded assets, giving the dollar additional impetus. Apart from that, the BoE maintained rates and hinted at potential …
Read More »USD/JPY benefits from surging US bond yields
USD/JPY took advantage of the positive correlation with US Treasury yields hitting a new high after yields on benchmark bonds showed a significant amount of consolidation throughout the trading day, on Thursday.US Treasury bond yields were able to consolidate in an upward trend on Thursday with the emergence of several …
Read More »New Zealand’s exports, imports surge
The seasonally-adjusted Trade Balance in New Zealand increased to $-11.99 billion YoY at the end of February, from the previous period’s $-12.62 billion. This was due to a little dip in January that was followed by a rise in both imports and exports in February. New Zealand’s trade gap, also …
Read More »US stocks rose for the second day in a row following Powell’s remarks
US stocks have continued to rise since the beginning of the North American trading on Thursday, with a boost of optimism left by expectations of an official interest rate cut by the Federal Reserve following the Fed’s announcement to keep the interest rate at the same levels without change one …
Read More »Sterling retreats on Dovish BoE, Stronger US Dollar
The major central banks’ monetary policy announcements cause the pound sterling to plunge sharply against the US dollar, hitting a new low that hasn’t been seen in two weeks. The market took a wrong turn on Thursday after the Bank of England became more dovish. As of this writing, the …
Read More »Gold Retreats on Stronger US Dollar, Surging T-Yields
On Thursday, the price of gold fell again, giving up some of its previous gains. The US dollar strengthened and US Treasury yields increased throughout this decline. The market’s change was influenced by the Federal Reserve’s decision on monetary policy on Wednesday. Even if the Fed recognized a robust economy …
Read More »Ahead of Halving, History Hints at a Likely Rally in Bitcoin
Following a recent decline from its all-time high, bitcoin is last seen at $65507. Economists and analysts are discussing historical trends that point to the looming halving event that is anticipated in April in response to this price volatility.It is worth noting that Bitcoin reversed early losses and moved higher …
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