Market Update

United States Treasury Secretary Janet Yellen said on Tuesday that she sees no reason why inflation should not come down to the Federal Reserve’s target. The US Dollar Index is falling modestly on Tuesday but is off lows. It recovered ground following US inflation data and is hovering around 104.00. …

The United States experienced a decrease in inflation, measured by the Consumer Price Index (CPI), to 3.1% on a year-over-year basis in November, according to the Tuesday report from the US Bureau of Labor Statistics (BLS). This figure is a slight dip from October’s 3.2% and aligns with market expectations. …

Oil prices rose on Tuesday after a Houthi attack on a chemical tanker heightened geopolitical tensions in the Middle East, but fears of slowing demand growth and excess supplies undermined gains. A cruise missile launched from Yemen hit a commercial tanker, causing fire and damage, but no casualties. By 0915 …

European stocks rose on Tuesday as investors took comfort from weaker-than-expected UK wage growth data and amid anticipation for a key US inflation report to be published later on Tuesday. The European STOXX 600 index increased 0.1 percent by 0814 GMT and is on track to record gains for the …

Japan’s Nikkei index posted modest gains on Tuesday as expectations faded for an imminent move by the Bank of Japan at its policy meeting scheduled for next week. The Nikkei ended trading on Tuesday, up 0.16 percent at 32,843.70 points, recording gains for the second day in a row. The …

The dollar fell while the yen stabilized in trading on Tuesday in Asia at a time when traders awaited inflation data in the United States and an expected series of central bank meetings. Dollar index contracts fell 0.5 percent to 145.46 yen. The two currencies have been witnessing fluctuations for …

Oil prices rose on Tuesday as investors remained cautious ahead of important decisions on interest rates and the release of inflation data, but concerns about oversupply and slowing demand growth undermined the gains. By 0342 GMT, Brent crude futures for February delivery rose 26 cents, or 0.3 percent, to $76.29 …

USD/JPY climbed above 146.00 for the second day in a row, extending the recovery from below 142.00. The Japanese yen was among the worst performers, as investors reduced the likelihood of a Bank of Japan policy change in the near term. Japan will publish the November Producer Price Index as …

Bitcoin’s price fell sharply, nosediving by 5.67% to $41296. However, technical indicators and on-chain data indicate that Bitcoin remains strong as bulls attempt to push it back above $44,000. According to on-chain data, Bitcoin has reached its Crosby Ratio golden ratio multiplier near-term target. Above $40,000, the price has reached …

On Thursday, the Bank of England is expected to keep interest rates unchanged and to maintain its higher-for-longer stance. UK economists believe the Bank of England will use this week’s interest rate decision to warn that borrowing costs will need to remain high well into 2024, dampening growing bets on …