According to official data, Japan’s industrial production grew by 2.7% in August compared to July, marking the third consecutive month of growth. This number clearly exceeded expectations for a 0.2% increase in a Reuters poll. Retail sales jumped 4.1% in August from a year ago, topping Reuters’ forecasts for a …
Read More »UK Q2 GDP improved to 0.2% QoQ
UK’s final reading of the second quarter (Q2) Gross Domestic Product (GDP) offered a positive surprise on early Friday. That said, the Q2 GDP improved to 0.2% QoQ versus -0.1% previous forecasts while the YoY figures increased to 4.4% versus 2.9% prior estimations. Further details suggest that the UK’s Q2 …
Read More »Stability in oil prices on USD decline
Oil prices were little changed in early trading on Friday, but they are heading for their first weekly gain in five weeks, supported by the decline in the US dollar and the possibility of the OPEC + group agreeing to cut crude production when it meets on the fifth of …
Read More »Asian stocks close lower, affected by the decline in Wall Street
Most stocks in the Asia-Pacific region fell Friday, September 30, the last day of the third quarter of the year after another sell-off on Wall Street overnight. In Japan, the Nikkei fell by 1.83% and the Topix fell by 1.76%. Hong Kong’s Hang Seng is up 0.29%, while Hang Seng …
Read More »Market Drivers – US Session 29/09/2022
The US dollar ended the day unevenly across the FX board, despite Wall Street resuming its decline and trimming all Wednesday’s gains. Treasury yields remained stable, with the 10-year note yielding 3.75% and the 2-year note 4.17%.Gold trades near its weekly high at the $1,664 level, while crude oil prices …
Read More »WTI retreats on hawkish central banks
WTI has pared the first weekly gains in five as traders await more clues. Supply related fears from Russia, chatters over OPEC+ output cut favor buyers.WTI crude oil prices is pressured towards $81.00 after retreating from the weekly highs around $82.50 the previous day. Crude oil is looking for decisive …
Read More »UK increases fears of contagion risk across markets
Intense market volatility in the UK escalated recession risks and global contagion fears. The gold market is one clear example, as it is cautiously observing the developments as prices rise from 2.5-year lows.UK market’s decline continues one day after the BoE intervened in the gilt market via an emergency bond-buying …
Read More »Could gold restore safe have status?
The gold price has started to find support and is back to trading near flat on the day at around $1,660.50, at the time of writing, efficiently escaping the earlier $1,641.57 low to the day’s high of $1,664.89. The US dollar continued to ease and spared its domination over rival …
Read More »Wall Street selloff accelerates after brief break
Shares sell off began on Thursday as the dollar slightly slid and eased its domination over currency markets amid recession fears that quake the stocks and bonds markets suffering more interest rate pain.After a partial rebound on Wednesday, US stocks sharply fell on Thursday. The Dow Jones Industrial Average fell …
Read More »Mexican central bank raises interest rate
Mexico’s central bank said the board was unanimous on the rate decision where it raised the benchmark interest rate to 9.25% from 8.50%. The USD/MXN pair is 0.25% bid on the day at 20.1947.Key QuotesSays the balance of risks for the trajectory of inflation within the forecast horizon remains biased …
Read More »