Market Update

US Nonfarm Payrolls data for December weakened the US Dollar, even though the labour market remains tight. Average Hourly Earnings easing sparked speculations for a dovish move of the Federal Reserve in the February meeting.The USD/JPY pair has remained downward biased below 133.00. The pair also struggles at the 200-day …

Nonfarm Payrolls in the US rose by 223,000 in December, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000 and followed November’s increase of 256,000 (revised from 263,000). Further details of the publication revealed …

Inflation in the euro area, as measured by the Harmonised Index of Consumer Prices (HICP), declined to 9.2% on a yearly basis in December from 10.1% in November, Eurostat announced on Friday. This reading came in below the market expectation of 9.7%. The annual Core HICP rose to 5.2% from …

European stocks rose on Friday, on track for their best weekly performance since November, with natural gas futures falling and positive economic data as investors await inflation data in the eurozone. The Stoxx Europe 600 index rose 0.1% by 0815 GMT, bringing its weekly gain to 3.4% so far. All …

Japan’s Nikkei index recovered early losses to close higher on Friday as investors bought back falling stocks and the yen fell against the dollar. The Nikkei index closed up 0.59 percent at 25,973.85 points, after it started trading on a lower note, affected by the decline on Wall Street at …

Oil prices rose about 1 percent on Friday, extending gains from the previous session, after data showed a decline in fuel stocks in the wake of the winter storm that swept the United States at the end of last year. And by 0203 GMT, Brent crude futures rose 79 cents, …

The dollar soared early on Thursday, boosted by the atmosphere typically denoting a hawkish Fed. The American currency gained additional momentum ahead of Wall Street’s opening following the release of upbeat US employment-related data. The EUR/USD pair fell to a fresh weekly low of 1.0514, recovering a few pips ahead …

The price of gold is facing difficulties in stretching its recovery move further ahead of US NFP data. The Fed might continue its interest rates on an elevated level for a longer period in light of the latest positive US ADP Employment Change data in addition to further dollar’s surge …

Binance’s attempt to acquire bankrupt crypto lender Voyager Digital is facing opposition from the US SEC and financial regulators. The SEC and US Trustee and state regulators from New Jersey and Vermont are concerned assets could be moved offshore. The commission has cast doubt on Binance’s financial ability to go …

Ethereum rebounded above $1,260 for the first time in three weeks, as whale transactions in the altcoin accelerated.Large wallet investors are interested in scooping up Ethereum as altcoins begin their recovery in 2023. Users are likely to prefer liquid staking as soon as they have completed their withdrawal from Ethereum’s …