On Wednesday, the dollar regained its momentum, marking modest gains following earlier losses fueled by renewed speculation about potential Federal Reserve rate cuts later this year. Meanwhile, the yen weakened, surpassing the 155 per dollar mark and keeping intervention concerns from Tokyo at the forefront. Experiencing a 0.3% decline, the …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
May, 2024
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8 May 2024 10:04 am
Asian Stocks Decline as China’s Rally Pauses and Rate Optimism Cools
On Wednesday, most Asian stocks navigated within a flat-to-lower range, pausing for breath after a recent rebound in Chinese markets, while comments from Federal Reserve officials stirred speculation about the timing of potential U.S. interest rate adjustments. Drawing cues from a largely stagnant overnight session on Wall Street, regional markets …
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8 May 2024 10:00 am
Oil declines as US inventories increase
In the early hours of Wednesday’s Asian trading session, oil prices experienced a decline amidst indications of increased crude and fuel inventories in the United States. This trend suggested a potential softening in demand, prompting a cautious stance among investors regarding supply expectations ahead of the upcoming OPEC+ bloc meeting …
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8 May 2024 5:02 am
Will stock market’s rally continue?
Tuesday saw gains in the US market indices as worries and concerns over the country’s economy, lest it should fall into a recession, eased further. US economic figures indicated that recent data was the worst since February 2023. As a result, there is growing anticipation that the Fed will soon …
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8 May 2024 3:55 am
Market Drivers; US Session, May 7
With the global markets in the midst of a generalised consolidation phase, the US dollar saw some decent gains as the FX universe gradually turned its focus to the announcement of the US CPI next week. In the face of further declines in US rates, the USD Index, or DXY, …
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8 May 2024 3:40 am
GBP/USD is trading at 1.2500 ahead of the BoE’s rate decision
The GBP/USD pair drops to 1.2500 on Wednesday, down -0.06%, as the USD strengthens. According to Fed member Kashkari, it’s premature to declare that inflation has stopped, and if it does, they may lower interest rates this year. The interest rate at 5.25% is anticipated to remain unchanged at the …
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8 May 2024 12:34 am
US Presidential Election Risks Surfacing in Forex Space
Even though election day is nearly six months away, Forex markets have begun factoring in increased foreign exchange volatility around the US vote on November 5. With the difference between the six- and three-month implied volatility for the Chinese offshore yuan skyrocketing for a second day, options traders are concerned …
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7 May 2024 9:37 pm
Earnings Glamour Dimmed by Disney’s Streaming Slowdown
Wall Street was only concerned about one thing, according to Disney’s Q2 results report: the company’s shares dropped as much as 11%. Disney told investors that its streaming division will turn a profit by the end of its fiscal fourth quarter, reported better-than-expected profits, and only slightly missed revenue targets. …
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7 May 2024 7:51 pm
Fed’s Kashkari: Rates will be higher for longer
President of the Federal Reserve (Fed) in Minneapolis, Neel Kashkari, made headlines on Tuesday for the second time in a row as he discussed the Fed’s outlook for inflation and interest rates for the remainder of the year.Kashkari would need to see multiple readings on inflation to be confident enough …
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7 May 2024 6:54 pm
Gold price declines on stronger Dollar
The Gold Index, XAU/USD, was trading down by roughly -0.33% earlier on Tuesday, in the $2,310s, but at the time of writing, it is only -0.20% down, trading at $2,319.56, as the US Dollar recovers, reducing the cost of Gold which is priced in USD. Gold price declines on Tuesday …
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7 May 2024 3:23 pm
European shares at a one-month high, supported by strong earnings results
European stocks surged on Tuesday, reaching their highest level in over a month, buoyed by robust earnings reports from companies like Swiss UBS and Italian UniCredit, alongside optimistic sentiment surrounding potential interest rate cuts. At 0710 GMT, the European STOXX 600 index climbed 0.6 percent, building on its highest weekly …
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7 May 2024 12:19 pm
Japan’s Nikkei closed at a 3-week high
On Tuesday, Japan’s Nikkei index surged over 1 percent, reflecting improved investor sentiment driven by heightened bets on potential US interest rate cuts and sustained gains in the technology sector. Closing at 38,835.10 points, the Nikkei index climbed 1.57 percent, marking its highest closing level since April 15. The broader …
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7 May 2024 10:46 am
Japanese yen declines despite continued fears of state intervention
On Tuesday, the yen continued its decline against the dollar, influenced by interest rate differentials despite warnings from Japanese officials following suspected interventions triggered by substantial dollar selling last week. The Australian dollar dipped 0.36 percent to $0.6601 USD from its recent peak of $0.6650 USD reached last Friday, matching …
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