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Market Analysis

April, 2024

  • 24 April 2024 3:02 pm

    European stocks are stable amid mixed business results

    In early trading on Wednesday, European stocks showed little change, with gains in the technology sector offsetting losses in the banking sector. Investors were evaluating the impact of monetary tightening on companies’ performance and financial results. The European STOXX 600 index edged up by 0.1 percent by 0720 GMT, hovering …

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  • 24 April 2024 2:40 pm

    Dollar is recovering and yen is approaching the 155 level against the dollar

    The dollar showed signs of recovery on Wednesday after facing significant losses against the euro and pound the day before, while the yen remained near its lowest level in 34 years, despite intensified warnings from Japanese officials about potential intervention to support the currency. The dollar index, which gauges the …

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  • 24 April 2024 3:26 am

    Market Drivers, US Session, April 23

    Improved risk appetite on Tuesday impacted the US dollar, which is -0.44% down, at the 105.68 mark, while the weaker than expected US PMIs kept the American currency under pressure.The ECB is expected to cut rates in June, while the Fed is still seen reducing its rates in September, with …

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  • 24 April 2024 3:14 am

    US stocks secure gains amid risk-on mood

    US stocks secured gains on Tuesday as investors prepared for a fresh batch of earnings reports, most notably Tesla. Nasdaq Composite led the trading day, surging about 1.6%. The benchmark S&P 500 rose about 1.2% after staging a comeback from a six-day run of losses on Monday. The Dow Jones …

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  • 24 April 2024 2:04 am

    WTI back over $83 amid further volatility

    Tuesday sees a tug in both directions for crude oil. Recent rate cut hopes are sparked by the US PMIs. Equities that are associated with risk are boosted as markets welcome the slowing US economy that could mean looming interest rate cuts. Tuesday’s start for West Texas Intermediate crude oil …

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  • 24 April 2024 1:50 am

    Treasury yields retreat following downbeat data

    Tuesday saw a decline in US Treasury yields as investors anticipated news later this week that would provide more details about the status of the economy. The S&P Global Flash U.S. manufacturing PMI dropped from 51.9 in March to 49.9, a four-month low. A reading less than 50 signifies a …

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  • 23 April 2024 11:45 pm

    Is US preparing for sanctions against China over support of Russian war?

    The United States is preparing to impose fresh sanctions on a few Chinese institutions in an effort to stop Beijing from funding and supporting Russia’s war in Ukraine. The proposed sanctions coincide with this week’s scheduled visit to China by US Secretary of State Antony Blinken. Regarding Beijing’s facilitation of …

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  • 23 April 2024 10:55 pm

    Spotify announces Q1 earnings following a year of significant layoffs, activist attention

    Spotify reported a record Q1 earnings and beat estimates on the top and bottom lines after a year of deep cost cutting and streamlining. The company’s earnings per share were 97 euro cents ($1.04), revenue was 3.64 billion euros, and monthly active users (MAUs) were 615 million compared to 618 …

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  • 23 April 2024 9:41 pm

    Canadian Dollar recovers following US PMIs

    The Canadian dollar has recovered following softer US Purchasing Managers Index figures, which have boosted market hopes that the US domestic economy will soften enough to prompt the Federal Reserve to consider rate cuts. Canada’s latest Retail Sales figures are due on Wednesday, while the broader market focus will be …

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  • 23 April 2024 8:15 pm

    Strong UK PMIs, BoE Pill’s Hawkishness Boost Sterling

    The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

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  • 23 April 2024 5:32 pm

    Reuters: Federal Reserve Expected to Cut Rates in September

    According to a recent Reuters poll of 100 economists, the majority now anticipates that the U.S. Federal Reserve will hold off on cutting its key interest rate until September. This contrasts with earlier expectations of a June rate cut and subsequent cuts throughout the year. Half of the economists surveyed …

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  • 23 April 2024 3:58 pm

    Euro at its highest levels since 2008 against Yen

    On Tuesday, the Japanese yen plummeted to multi-year lows against both the dollar and the euro, prompting heightened vigilance among traders for potential government intervention ahead of the Bank of Japan’s upcoming meeting. Conversely, the British pound saw a decline to its lowest levels in several months following dovish remarks …

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  • 23 April 2024 2:56 pm

    Oil rises supported by strong data from the European Union

    On Tuesday, oil prices saw an increase, buoyed by robust economic data from Europe and the ongoing consideration of potential new US sanctions on Iranian oil exports amidst continued tension in the Middle East. As of 0847 GMT, Brent crude futures climbed by 80 cents, or 0.9 percent, reaching $87.80 …

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