Market Update

Turkey’s annual inflation fell to 64.27 percent in December, official data showed on Tuesday, below expectations, after hitting a 24-year high in October. The Turkish Statistical Institute said consumer prices rose 1.18 percent month-on-month, compared to the 2.7 percent expected in a Reuters poll. On an annual basis, expectations were …

Crude oil prices moved in a narrow range on Tuesday, as expectations about the future of demand were affected by a weekly survey that showed shrinking factory activity in China and the International Monetary Fund’s warning that the global economy will face a difficult year. Brent crude futures recovered from …

European stocks rose on Monday in the first trading sessions of 2023, as eurozone manufacturing data indicated that the worst had passed after a year marred by fears of a recession as central banks around the world raised interest rates. The STOXX 600 rose 1 percent, supported by the stocks …

The US Dollar was starting the year higher, advancing against most of its major rival currencies but ended it unevenly across the FX board. The EUR was the weakest, as EUR/USD retreated from the 1.0700 area towards the current 1.0650 price zone, while the AUD was the strongest, with AUD/USD …

Though commodities have been the best-performing asset class for two years, according to Bank of America, experts have warned of market volatility as trading volumes of gold, oil, silver and copper have surged Retail investors are attracted to commodity trading after two consecutive years of plentiful returns, despite concerns that …

The EUR/JPY pair fell below the 140.00 mark as the cross dives below the 200-DMA and the 20-day crosses below the 100-DMA.The EUR/JPY drops 2.40% below the 200-day Exponential Moving Average (EMA) at 140.18, extending its losses to three consecutive trading days, falling since peaking around the last week’s high …

The USD/CHF pair’s decline has stopped around 0.9200 as a triple bottom emerged. A falling wedge and oscillator flashing selling pressure waning could pave the way for further upside in the pair.The Swiss Franc bounced at around 0.9200 and climbs toward 0.9250s during the US session, which witnessed low liquidity …

NZD/USD retraces after hitting 0.6370, as investors’ sentiment is positive on the first day of trading in the new year.Weaker than expected, China’s PMIs would likely hurt the NZD/USD climbing prospects to the 0.6400 area. The New Zealand Dollar also retraces from two-week highs around 0.6370s vs. the US dollar …

The Euro sheds some ground against the US dollar on the first trading day of 2023 amidst thin liquidity conditions in the financial markets. The release of S&P Global PMIs in the Eurozone failed to bolster the shared currency on Monday. At the time of writing, the EUR/USD is trading …

The US Dollar has regained some momentum and managed to climb against the Canadian counterpart. The USD/CAD pair bounces off nearby the 50-day Exponential Moving Average (EMA) at 1.3532 and rises toward the 20-day EMA, during the first trading day of 2023 in the US session, so, the pair is …