Oil prices declined on Wednesday due to a surprise increase in US crude stockpiles, raising concerns about demand in the largest oil market. The EIA report highlighted investor concerns of slowing demand growth, with US crude inventories rising by 1.3 million barrels in the week ended January 5 to 432.4 …
Read More »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 …
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 …
Market Analysis
January, 2024
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10 January 2024 10:13 pm
Swiss Franc weakens vs Sterling after Bailey’s speech
The Swiss Franc declined against the Pound Sterling for the seventh consecutive trading day, as the Bank of England Governor, Andrew Bailey, testifies before Parliament at the UK Treasury Select Committee. The Dow Jones Industrial Average and S&P 500 are edging higher, marginally aiding the Pound more than the Swiss …
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10 January 2024 8:50 pm
US CPI expectations by 10 major banks
The US Bureau of Labor Statistics will release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Thursday, January 11 at 13:30 GMT. As we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the …
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10 January 2024 7:53 pm
EUR/USD steadies amid ECB’s officials’ comments
The EUR/USD pair recovers slightly in anticipation of US CPI release, with ECB members’ statements weighing on the Euro. ECB Vice-President de Guindos hints at possible Eurozone recession, while Schnabel affirms stance on inflation control.EUR/USD traders focus on upcoming US inflation figures and unemployment claims. The Euro pares some of …
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10 January 2024 1:29 pm
European Stocks Dip Amidst Decline
On Wednesday, European stocks experienced a decline, weighed down by a drop in basic resource companies, as investors assessed corporate earnings and awaited crucial US inflation data for insights into the future of interest rates. The European STOXX 600 index slipped by 0.2 percent by 8:15 GMT, with basic resources …
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10 January 2024 12:53 pm
Gold Prices Dip Amidst Dollar and Bond Yield Gains Ahead of Key US Inflation Report
On Wednesday, gold prices experienced a decline, influenced by the ascent of the US dollar and a rise in Treasury bond yields. Investors closely monitored these indicators ahead of the US inflation report, which is anticipated to provide insights into the potential trajectory of interest rate adjustments by the US …
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10 January 2024 12:18 pm
Dollar Holds Steady Ahead of US Inflation Data
In cautious trading on Wednesday, the dollar maintained its position as investors awaited crucial US inflation data later in the week, which could impact Federal Reserve policy. Meanwhile, Bitcoin faced fluctuations after a false social media post caused turmoil in the markets. The US Securities and Exchange Commission (SEC) reported …
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10 January 2024 11:56 am
Nikkei rises to 34-year high at close thanks to technology stocks
Japan’s Nikkei index rose to its highest level in 34 years at the close thanks to the rise in technology companies’ shares, which tracked their American counterparts on Tuesday night, and the decline of the yen led to an increase in the profits of exporters. The Nikkei index jumped 2.01 …
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10 January 2024 11:04 am
Oil Prices Extend Gains Amidst Mixed Inventory Data and Global Tensions
On Wednesday, oil prices continued their upward trajectory from the previous day, supported by data indicating a more significant-than-expected decline in US crude inventories last week. However, gains were tempered by a larger-than-anticipated increase in gasoline and distillate inventories. Brent crude futures saw an increase of 29 cents, or 0.4 …
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10 January 2024 3:20 am
Market Drivers – US Session, January 9, 2024
“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told US media outlets. A false social media post said that the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly …
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10 January 2024 2:45 am
Will Avoiding Gov. Shutdown Need Another Congressional Deal?
The ongoing debate on funding this year’s federal obligations, including the US debt ceiling and top line spending cuts, is not over. Some economists believe that the top line figures are not satisfactory and lawmakers are still not satisfied with spending priorities.The current political circumstances in Washington are not conducive …
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10 January 2024 2:14 am
Gold lacks real catalyst ahead of US inflation data
Although gold attracted some buyers on Tuesday, the precious metal struggled to benefit from the move up. The precious metal is trading at $2029.70 per ounce at the time of writing. The Fed’s policy stance is expected to change due to a decrease in consumer inflation expectations, which could potentially …
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10 January 2024 1:00 am
Barr: Fed’s bank funding program came to an end
The Fed’s Bank Term Funding Program, which was launched during last year’s regional banking crisis, is set to end without extension according to Michael Barr, the Fed’s vice chair for supervision.The program, which allowed banks and credit unions to borrow funds for up to a year, has seen a surge …
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