With the release of US Purchasing Manager Index (PMI) data, the XAU/USD Index is at a key juncture, threatening to fall below a significant trendline. According to the most recent figures, the US manufacturing and services sectors both experienced greater growth in May than anticipated. At the time of writing, …
Read More »Loonie Declines Despite US Market Pause
The Canadian Dollar continued its downward spiral on Thursday, losing another 0.1% against the US Do…
BoE’s Breeden: Some evidence of activity weakening, but we expect it to pick up again
Bank of England (BoE) Monetary Policy Committee (MPC) member and Deputy Governor for Financial Stabi…
Fed’s Harker Signals Continued Rate Cuts, But Urges Caution
Philadelphia Federal Reserve President Patrick Harker reiterated his belief that the U.S. central ba…
Gold Prices Extend Rally Amid Rising Inflation Concerns
Gold prices extended their rally for a third consecutive day, surpassing $2,675, as investor concern…
Oil Prices Edge Higher Amid Firm Winter Demand Expectations and Supply Concerns
Oil prices rose slightly on Thursday, with Brent crude and West Texas Intermediate (WTI) gaining 0.5…
UK Retailers Face Sector-wide Selloff Amid Consumer Confidence Worries
Shares in leading UK retailers fell sharply on Thursday, erasing £2 billion ($2.45 billion) in marke…
Global Forex Update: Dollar Steadies Amid Fed Optimism, Euro and Yuan Under Pressure
The U.S. dollar held firm on Thursday, bolstered by hawkish Federal Reserve minutes and strong econo…
Germany’s Exports and Industrial Production Beat Expectations, but Economic Challenges Persist
Germany, the eurozone’s largest economy, delivered better-than-expected export and industrial produc…
European Stocks Edge Lower Amid Mixed Economic Data and Retail Earnings
European stock markets traded slightly lower on Thursday, as investors evaluated economic data and r…
Oil Prices Steady Amid Seasonal Demand and Rising U.S. Inventories
Oil prices held steady on Thursday as markets balanced strong winter fuel demand expectations with c…
Market Analysis
May, 2024
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23 May 2024 7:47 pm
US dollar continues to benefit from FOMC minutes
The US dollar has been on the rise since the start of US trading on Thursday, fueled by signals from the Federal Reserve’s previous meeting. Additionally, weekly jobless claims continue to decline.The dollar index, which measures the performance of the US currency against major currencies, reached 104.97 points compared to …
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23 May 2024 6:25 pm
Will US House’s FIT21 Bill boost cryptocurrencies?
The FIT21 Bill is frequently cited by analysts as a critical step towards cryptocurrency regulation. A big bill that is presently passing the US House of Representatives is called the Financial Innovation and Technology for the 21st Century Act (FIT21). Why it matters is as follows:Regulatory Framework for Digital Assets:In …
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23 May 2024 2:55 pm
U.S. Dollar Eases Slightly but Remains Near One-Week High Post-Fed Minutes
The U.S. dollar handed back some of the previous session’s gains on Thursday but remained near a one-week high following the release of hawkish minutes from the last Federal Reserve meeting. The minutes suggested that U.S. interest rates could remain elevated for an extended period. As of 04:20 ET (08:20 …
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23 May 2024 12:45 pm
Gold Prices Retreat Amid Rising Rate Concerns and Dollar Strength
Gold prices experienced extended losses in Asian trade on Thursday, further retreating from recent record highs as renewed worries about high interest rates and diminished safe haven demand weighed on the yellow metal. Industrial Metals Follow Suit Industrial metals, including copper, also faced losses, with copper prices sharply declining from …
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23 May 2024 12:06 pm
European Stocks Rise on Nvidia Forecast, Await Business Surveys
European stocks edged higher on Thursday following upbeat forecasts from AI giant Nvidia, boosting global chipmakers. Investors awaited the latest business surveys to assess the euro zone economy’s outlook and interest rate trajectory. The pan-European STOXX 600 index rose 0.2%, with the tech index leading sectoral gains with a 1.2% …
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23 May 2024 11:24 am
Asian Markets React to Policy Patience and Geopolitical Tensions
Several Asian share benchmarks experienced declines on Thursday as investors grappled with the implications of policymakers adopting a patient approach to monetary easing amidst persistent inflationary pressures. Geopolitical tensions, particularly in the Taiwan Strait, added to market concerns. Market Movements Chinese blue chips and Hong Kong’s Hang Seng Index faced …
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23 May 2024 5:17 am
How have financial markets reacted to latest FOMC minutes?
On Wednesday, the Fed issued the minutes of its last meeting held on April 30 and May 1, which sheds light on monetary policy trends and overall economic conditions. The minutes also answer important questions related to the challenges facing financial markets in America and the world. Let’s have a …
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23 May 2024 12:24 am
Nvidia’s Profit Soars, Underscoring Dominance in AI Chips
Nvidia reported Q1 earnings, which were impressive, with net income rising more than sevenfold compared to the previous year. The company’s revenue also experienced remarkable growth, more than tripling from $7.19 billion to $26.04 billion during the same period. Analysts had high expectations, and NVIDIA exceeded them. Earnings per share …
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22 May 2024 11:38 pm
GBP/USD slides after FOMC minutes, surprise UK election news
The GBP/USD pair is easing back from Wednesday’s early gains after FOMC showing. UK PM Sunak calls for general election July 4 in a bid to hold power. A rate cut in June 2024 look less likely, the GBP/USD pair is pulling back from Wednesday’s early gains after the FOMC …
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22 May 2024 10:32 pm
FOMC minutes support a probable rate cut in September
Despite expressing disappointment over recent inflation readings, Federal Reserve officials at their last policy meeting indicated they still believed that price pressures would gradually ease. This sentiment was reflected in the minutes of the Fed’s April 30-May 1 session.Although the current policy response would “involve maintaining” the central bank’s benchmark …
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22 May 2024 9:46 pm
US stocks continue quiet trading ahead of FOMC minutes
US stock indexes are drifting around their records, with the S&P 500 remaining virtually unchanged. Target tumbled 7.4% after reporting profit for the latest quarter that fell short of analysts’ expectations, and forecasted ranges for upcoming profit fell below analysts’ estimates. Nvidia’s headline profit report will come after trading closes …
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22 May 2024 9:17 pm
US Dollar Slightly Higher Ahead of May’s FOMC Minutes
The US Dollar Index (DXY) is currently trading near 104.80, showing minor gains during Wednesday’s American session. Despite soft inflation data reported last week, the Greenback remains resilient, thanks to cautious statements from Federal Reserve (Fed) officials.The upcoming release of the FOMC Minutes is crucial for investors seeking insights into …
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