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Market Analysis

May, 2024

  • 30 May 2024 5:18 am

    Market Drivers – US Session, May 29

    Amid multi-week highs in US yields, the USD Index (DXY) increased further and broke above the crucial 105.00 barrier. A further update to the Q1 GDP Growth Rate is scheduled for May 30, with weekly Initial Jobless Claims, Goods Trade Balance, and Pending Home Sales serving as backups. Bostic, Williams, …

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  • 30 May 2024 2:58 am

    Yen retreats to 4-week lows versus surging dollar

    The dollar rose today, boosted by higher US bond yields ahead of key inflation data later in the week and strengthened against the Japanese yen. The dollar reached as high as 157.715 yen, edging closer to levels that led to bouts of likely intervention from Tokyo at the end of …

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  • 30 May 2024 1:42 am

    Oil prices slide ahead of US EIA Data

    Oil prices fell on Thursday as markets await the latest U.S. crude oil stockpiles data. Resilient U.S. economic activity suggests that borrowing costs will remain higher for longer, potentially impacting demand. Brent futures lost 9 cents to trade at $83.52 a barrel, while U.S. West Texas Intermediate (WIT) crude was …

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  • 29 May 2024 11:38 pm

    US Dollar Soars Following Fed’s Beige Book

    The US Dollar has experienced a sharp recovery following the Beige Book report, which showed slight growth in national economic activity. The report also revealed that employment rose slightly, wage growth was moderate, and prices increased modestly as consumers resisted further price hikes. According to Fed’s Beige Book, housing demand …

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  • 29 May 2024 10:52 pm

    Dow Jones sheds 400 points amid risk aversion

    The Dow Jones Industrial Average has fallen over 400 points and is now below 38,500.00, with the major equity index down nearly nine-tenths of a percent due to investor sentiment. Demand for treasuries is declining as bid-to-cover ratios on key Treasury auctions decrease, putting downward pressure on equities and bolstering …

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  • 29 May 2024 8:25 pm

    What role have T-yields recently played in US dollar’s, gold’s price action?

    The US dollar continues to rise, up 0.42% at 105.057, amid the absence of US data on the economic calendar on Wednesday, on the back of the surging US Treasury bond yields, which have continued to rise since the beginning of trading this week.US Treasury bond yields continue to rise, …

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  • 29 May 2024 6:42 pm

    Sterling retreats to fresh weekly lows as bears eye 1.2700

    The GBP/USD pair tumbles to new three-day low as ‘evening star’ chart pattern emerges. Buyers’ momentum begins to fade as RSI aims toward the 50-midline. If the pair drops below 1.2700, look for further losses; otherwise, bulls can challenge 1.2800.The British Pound fell to a new weekly low against the …

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  • 29 May 2024 2:45 pm

    U.S. Stock Futures Dip as Rising Bond Yields Pressure Megacaps

    U.S. stock index futures retreated on Wednesday, with megacap stocks feeling the heat from rising Treasury yields. This surge in yields fueled concerns about the timing of the Federal Reserve’s potential interest rate cuts. Tech giants like Apple, Meta, and Nvidia experienced declines in premarket trading, as the yield on …

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  • 29 May 2024 12:49 pm

    Dollar Rises on Rate Cut Doubts, Surging Bond Yields

    The U.S. dollar strengthened in early European trading on Wednesday, driven by growing expectations that the Federal Reserve will postpone interest rate cuts until later this year. This upward movement was also supported by rising U.S. Treasury yields, fueled by a lackluster debt auction. At 04:10 ET (08:10 GMT), the …

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  • 29 May 2024 12:22 pm

    European Stocks Dip as Bond Yields Rise, Inflation Worries Weigh

    European stock markets experienced a decline on Wednesday, driven by escalating bond yields that unnerved investors ahead of crucial inflation data releases. Fears of prolonged monetary tightening added to the market’s apprehension. Early in the trading session, the DAX index in Germany slipped 0.3%, while the CAC 40 in France …

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  • 29 May 2024 11:40 am

    Oil Prices Climb on Anticipation of OPEC+ Production Cuts and Peak Summer Demand

    Oil prices experienced a boost in Asian trading on Wednesday, fueled by expectations that major producers will maintain existing output cuts at their upcoming meeting and the anticipated rise in fuel consumption during the summer season. Brent crude futures for July delivery saw a modest increase of 18 cents (0.2%), …

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  • 29 May 2024 7:07 am

    Market Drivers; US Session, May 29, 2024

    The US dollar managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September.Key Developments:The USD Index (DXY) rebounded from multi-day lows near 104.30 on the back of te …

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  • 29 May 2024 6:05 am

    3 factors behind soaring oil prices

    Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …

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