Market Update

The Japanese Nikkei index ended the session on Wednesday with a decline amid tepid trading, as investors continued to sell shares to take profits after a rise witnessed last week. The Nikkei index fell 0.26 percent to 33,321.22 points after opening with a decline of 0.49 percent and then rising …

Oil prices rose on Wednesday after a storm in the Black Sea region disrupted Kazakhstan and Russia’s crude exports, raising fears of supply shortages as investors awaited a decisive decision from the OPEC+ alliance that could increase or extend production cuts. By 0127 GMT, Brent crude futures rose 33 cents, …

The US Dollar retreated across the board. The comments by Fed’s Christopher Waller stating that if inflation consistently declines, there is no reason to insist on keeping interest rates really high reinforced the negative momentum of the Greenback. Fed’s Mester will speak on Wednesday.The US Dollar Index (DXY) broke below …

The central bank in New Zealand is expected to maintain interest rates at 5.50%, with the NZD/USD pair reaching 0.6127. Despite few expecting the RBNZ to lift interest rates at the meeting, some analysts see a risk of hawkish posturing. Forecasts and commentary from Reserve Bank Governor Adrian Orr are …

The GBP/USD has surged for the fourth consecutive day following dovish remarks by US Fed officials, suggesting a deceleration in inflation would warrant lower rates. The pair has posted more than 0.60% gains, with buyers eyeing a test of the August 30 swing high at 1.2746, which could pave the …

With futures pointing to a weaker opening today after a decline in equities on Monday, US stocks show signs of a pause in its November rallyInvestors are now turning their attention to a fresh batch of earnings reports expected from several tech and enterprise firms, including Nasdaq’s Intuit, Workday, Splunk, …

China’s President Xi Jinping is attempting to shift China from its property-based, debt-fueled economic model, which has been cooling growth in the world’s second-largest economy. However, investors are concerned about the structural changes underpinning the country’s continuing appetite for raw materials, such as the $300 billion copper market. China imports …

The gold market is holding near a six-month high, seeing some reaction to better-than-expected US consumer optimism. At the time of writing, gold is trading at $204.51 per ounce. It is up by +1.34%, with $27.13 gains. The Conference Board said on Tuesday its consumer confidence index fell to 102 …

ECB President Lagarde participated through a pre-recorded video at the European Financial Reporting Advisory Group Conference, in Brussels, and mentioned quantitative tightening (QT). Among other things, Lagarde said QT will come up for “discussion and consideration within the governing council in the not-too-distant future.”Financial markets ignored Lagarde’s words and focused …

Federal Reserve Governor Michelle Bowman said on Tuesday that she remains willing to support raising interest rates “should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation down to 2 percent in a timely way.” The US Dollar Index (DXY) moved modestly off …