Market Update

In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …

Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East. Current Gold Prices and Market Activity At 0404 GMT, gold …

Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …

Crude oil futures rose sharply after Israel rejected a ceasefire offer in Gaza, reinforcing concerns of a wider Middle East conflict. The recent bombing of Rafah by Israeli forces in Gaza has also boosted crude prices. Geopolitical tensions, particularly between the US and Iran, have been a key source of …

Gold futures have declined since the opening of Thursday’s North American trading session due to the rise in the US dollar and renewed geopolitical concerns about the possibility of the war in Gaza expanding to other areas within the Middle East. The US dollar achieved limited gains due to Israeli …

The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a …

The US dollar rose on Thursday, initially to 103.45 and then stabilizing at 104.15, following positive Initial Jobless Claims data. However, bulls are running out of steam due to a lack of fresh drivers and Fed speakers refusing to give additional guidance on the bank’s next steps concerning future rate …

The Federal Reserve looks in no hurry to cut interest rate very soon. Last year’s revisions to the consumer price index (CPI) raised doubts on inflation progress, prompting Fed officials to seek more evidence before committing to interest-rate cuts. The Bureau of Labor Statistics regularly adjusts monthly CPI data to …

The EUR/GBP pair had a 0.10% increase on Thursday and is currently trading at 0.8540. The GBP will eventually gain from the ECB and BoE’s different monetary policies.The markets are pointing to an April rate cut from the ECB and a June rate cut from the BoE. The EUR/GBP pair …

Bank of England policymaker Catherine Mann, who voted in favor of a rate hike in the last policy meeting, said on Thursday that she is not convinced that the near-term declaration in headline inflation will continue.Mann noted that she is worried that a Red Sea price shock could be incorporated …