Market Update

During a Turkish-Saudi investment and business forum in Istanbul, Turkish Finance Minister Mehmet Simsek expressed optimism about the trajectory of net portfolio flows to Turkey, noting an increase in the second half of last year. He further anticipated an acceleration in these flows following local elections scheduled for the end …

Nikkei’s Historic Surge:Japan’s Nikkei index surged to its highest level in 34 years on Friday, edging closer to surpassing the all-time high reached during the country’s economic bubble era in the 1980s. The index breached the post-bubble economic era’s previous peak, setting the stage for potentially eclipsing the record set …

Subdued Performance Overview:Gold faces downward pressure for the second consecutive week on Friday, as unexpected upticks in US consumer prices prompt traders to reassess their outlook on interest rate cuts. However, the precious metal sees a partial recovery following a decline in consumer spending. Gold Price Movement:Spot gold settled at …

Subdued Movement Overview:Oil prices displayed a mixed performance on Friday as market participants weighed expectations of slowing demand against hopes for potential interest rate cuts in the United States. Brent crude futures experienced a marginal decline, while US West Texas Intermediate crude futures saw marginal gains. Price Dynamics:Brent crude futures …

The Atlanta Fed GDPNow estimates for first-quarter growth dipped to 2.9% from 3.4%. Atlanta Fed GDPNow’s report reads as follows: “The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.9 percent on February 15, down from 3.4 percent on February …

All three main indices finished Thursday’s trading day in the green territory, recovering from sharp losses earlier in the week. The S&P 500 closed at a new record high. As of now this year, the 500-stock benchmark has closed on 11 consecutive record highs.The Nasdaq Composite gained 0.30% to conclude …

Gold prices have been trading at $2,003.70 per ounce, up 0.73% since yesterday’s price and down 3.03% from the beginning of the year. At the time of writing, gold is trading at $2004.44 per ounce, up +0.63%. Mixed US economic data has impacted the US Dollar, with US Treasury yields …

Fed Chair Jerome Powell is set to give the Senate banking committee its biannual monetary policy update on March 7. The House Financial Services Committee is expected to host Powell at a hearing at least a day earlier, based on past practice. Investors will be keenly interested in Powell’s congressional …

Bank of England policymaker Megan Greene has stated that she will not vote to cut the cost of borrowing until more evidence of inflation returning to the central bank’s target is found. Greene believes that UK monetary policy will need to remain restrictive for some time for inflation to sustainably …

The Canadian Dollar has recovered on Thursday after missing expectations and shrinking in January. The US dollar’s midweek surge on CPI-fueled risk aversion is getting pared back, and the CAD is finding additional support from recovering crude oil bids heading into the back end of the trading week. Canadian Housing …