The EUR/USD pair is trading at 1.0817, down 0.05% from the previous day’s gains against the dollar. The Eurozone’s largest economy contracted by 0.3% in Q4 2023, while business sentiment improved. The US economic calendar is absent, but recent unemployment claims figures and S&P Global Flash PMIs justify Fed officials’ …
Read More »Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Consumer Caution: Retail Sales Underwhelm Amid Economic Uncertainty
A note of caution has sounded within the US economy as retail sales for February fell short of expec…
U.S. Stock Futures Decline Amid Trade Tariff Uncertainty
U.S. stock index futures dropped on Monday as investor concerns grew over the potential economic imp…
Oil Prices Rise Amid U.S. Strikes on Houthis and Strong Chinese Data
Oil prices traded higher on Monday as the U.S. vowed continued strikes on Yemen’s Houthis, while Chi…
European Stocks Gain Amid German Debt Deal, U.S.-EU Trade War Looms
European stock markets edged higher on Monday, supported by optimism over a historic German debt dea…
Gold Prices Dip After Record Surge, Market Eyes Tariffs & Economic Risks
Gold prices edged lower in Asian trade on Monday, following a record-breaking rally, as investors ba…
Bitcoin Drops as Traders Brace for Federal Reserve Decision
Bitcoin (BTC) fell on Monday, extending its weekly decline as investors remained cautious ahead of t…
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 …
Market Analysis
February, 2024
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23 February 2024 3:45 pm
European Stocks Open Higher as Standard Chartered and BASF Results Drive Gains
: European Markets Await ECB Guidance Amidst Positive Corporate Results European stocks opened on a positive note on Friday, buoyed by robust earnings reports from companies such as Standard Chartered and BASF. However, traders exercised caution ahead of statements from policymakers at the European Central Bank (ECB), including President Christine …
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23 February 2024 3:44 pm
Dollar Poised for First Weekly Decline in 2024
Currency Markets Reflect Changing Sentiment Currency markets experienced notable shifts this week, with the dollar poised to record its first weekly decline in 2024. Investor sentiment recalibrated following diminished expectations of imminent interest rate cuts by the Federal Reserve, fueling a rebound in the US currency. Meanwhile, the yen faced …
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23 February 2024 1:27 pm
Yen Plummets Against Major Currencies as Investors Seek Higher Returns Elsewhere
Introduction: Yen’s Downward Spiral This week witnessed a continued decline in the value of the yen against key currencies such as the euro, pound sterling, and the US dollar. Investors, eager for better returns outside Japan’s near-zero interest rate environment, drove the yen to new lows, marking its fourth consecutive …
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23 February 2024 11:51 am
Oil Prices Retreat as Fed Official Delays Rate Cut Plans
Oil Market Reacts to Federal Reserve Commentary Oil prices retreated on Friday following remarks from a Federal Reserve official suggesting a delay in interest rate cuts for at least two additional months. The market responded swiftly to the news, recalibrating expectations amidst evolving monetary policy dynamics. Market Movements: Tracking Brent …
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23 February 2024 11:50 am
Gold Prices Rally Amid Dollar Weakness and Geopolitical Tensions
Gold prices surged on Friday, poised to clinch their first weekly gain in three weeks. A confluence of factors, including a weakened dollar and escalating tensions in the Middle East, fueled investor appetite for the precious metal. Market Dynamics: Tracking the Numbers At 0411 GMT, gold prices in spot transactions …
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22 February 2024 10:15 pm
USD/CAD swings following US key data, Canadian retail sales
The USD/CAD exchange rate saw volatility on Thursday due to mixed US PMI data and Canada’s retail sales statistics. The pair moved towards the lower end of the range early on Thursday as investors prepared for the US Purchasing Managers Index (PMI) data of the day. The pair is trading …
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22 February 2024 9:31 pm
Nasdaq boosted following Nvidia’s earnings
As Nvidia’s stock surged to an all-time high, the S&P 500 approached a new high and global stock rallies gained momentum.The chip manufacturer, propelled by the surge in demand for AI systems, announced another quarter of record-breaking performance. During afternoon trade, Nvidia’s shares increased by 15%. As a result, the …
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22 February 2024 8:15 pm
US S&P Global Manufacturing PMI for February improves
The US S&P Global Composite PMI fell from 52 in January to 51.4 in February’s flash estimate, indicating that the private sector’s business activity in the US is still growing, but more slowly than it was in January.During the same time period, the S&P Global Manufacturing PMI increased to 51.5 …
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22 February 2024 7:41 pm
Fed’s Jefferson: Cautiously optimistic about inflation progress
Phillip Jefferson, the Fed Vice Chair of the Board of Governors, delivered a speech on Thursday in Washington, DC, at the Peterson Institute for International Economics.Key QuotesContinuing strength in spending is an upside risk to forecasts.Fed needs to remain vigilant, nimble.Fed shouldn’t be taken by surprise by any unexpected shocks.Fed’s …
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22 February 2024 5:34 pm
Oil Prices Edge Up Amid Dollar Decline and Yemen Ship Attack
Key Highlights: Oil prices edge up with Brent crude and WTI futures seeing modest gains.Weakened dollar and Yemen ship attack contribute to price increase.Brent crude reaches $83.38 per barrel, while WTI climbs to $78.28 per barrel.Attack on ship off Yemen’s coast adds geopolitical tension to market sentiment.Increase in US crude …
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22 February 2024 4:49 pm
The Turkish Central Bank keeps interest rates unchanged
Key Points: Turkey’s central bank keeps key interest rate steady at 45 percent.Decision aligns with market expectations post-last month’s rate hike.Central bank prepared to tighten monetary policy if significant and sustained deterioration in inflation expectations emerges.Appointment of Fateh Kara Khan as governor followed the resignation of Hafiza Ghaya Arkan.Monetary tightening …
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22 February 2024 3:10 pm
Germany’s Economic Contraction Deepens in February
Germany witnessed a deepening economic contraction in February, as a modest uptick in services activity failed to offset a significant downturn in the manufacturing sector, according to a preliminary survey published on Thursday. The Standard & Poor’s Global Hamburg Commercial Bank Composite Purchasing Managers’ Index (PMI) plummeted to 46.1 points …
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