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Market Analysis

May, 2024

  • 2 May 2024 11:21 am

    Yen Falls Following Rapid Surge, Attributed to Authorities’ Intervention

    On Thursday, the yen depreciated against the dollar, reversing its trajectory following a sudden surge on Wednesday night, which market participants and analysts promptly linked to intervention by Japanese authorities. The yen declined by 0.80 percent to 155.73 against the dollar by 0537 GMT, retracing nearly half of its ascent …

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  • 2 May 2024 10:15 am

    Oil Prices Surge Amid Potential Replenishment of US Strategic Reserve

    Oil prices climbed on Thursday as the United States is anticipated to initiate crude purchases to replenish its reserves, following a slump to a seven-week low. This comes alongside optimism for a ceasefire in the Gaza Strip, increasing American stockpiles, and uncertainty regarding a potential interest rate cut by the …

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  • 2 May 2024 9:03 am

    Gold rises after the US Central Bank fixed interest rates

    Gold prices continued their upward trend for the second consecutive session on Thursday following indications from the Federal Reserve (US central bank) suggesting a potential future interest rate cut. Gold edged up by 0.3 percent to $2,325.02 per ounce by 0218 GMT, building upon its more than one percent gain …

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  • 2 May 2024 3:40 am

    What is behind oil price’s recent decline?

    Since mid-April 2024, the global oil market has been in a tug of war mode, with remarkable fluctuations, as prices continued to swing and reacted to upward and downward pressures. In order to understand this volatility, it is essential to refer to reliable data and stay informed on global developments …

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  • 2 May 2024 1:54 am

    Market Drivers; US Session, May 1

    After the Fed kept interest rates constant as expected and Chief Powell ruled out an interest rate hike as the Fed’s next move, the US dollar gave up its gains on Tuesday with falling US yields across the curve.As US rates reversed following the FOMC meeting, the USD Index (DXY) …

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  • 2 May 2024 12:06 am

    Gold prices surge, US dollar slides following FOMC decision

    Gold prices surged following the Federal Reserve’s decision to hold interest rates at 5.25-5.50% and Chair Powell’s cautious comments. The US economy, despite facing inflationary pressures and a tightening labor market, maintains robust domestic demand, according to Powell’s observations. However, inflation remains high, leading to the Fed’s cautious stance on …

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  • 1 May 2024 11:13 pm

    Powell speaks on policy outlook after FOMC decision

    Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25%-5.5% and responds to questions in the post-meeting press conference.In its policy statement, the Fed said that there has recently been a lack of further progress toward the 2% …

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  • 1 May 2024 10:41 pm

    Powell still seeks assurance that further progress on inflation is achieved

    In the post-FOMC meeting news conference, Federal Reserve Chairman Jerome Powell explained the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions.Key Quotes“The economy has made considerable progress toward dual goals.”“Inflation eased substantially over the past year but it’s still …

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  • 1 May 2024 10:03 pm

    Federal Reserve Keeps US Interest Rates Unchanged

    The Federal Open Market Committee decided to keep interest rates unchanged at its meeting that concluded today, Wednesday, and investors and observers are awaiting the press conference held by Federal Reserve Chairman Jerome Powell in an attempt to obtain guidance on the future interest rate path and the central bank’s …

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  • 1 May 2024 9:51 pm

    Gold stabilized below $2,300 ahead of Fed decision

    Earlier on Wednesday, the XAU/USD Index was trading with gains of 0.84% at $2,304 amid falling US Treasury yields and a weak US Dollar. At the time of writing, it trading at $2299.20 per ounce.Manufacturing activity expanded in April, according to S&P Global. However, the Institute for Supply Management (ISM) …

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  • 1 May 2024 8:18 pm

    GBP/USD reflects uncertainty ahead of FOMC decision

    The Pound Sterling has dropped below 1.2500 against the US dollar, trading at 1.2480, down 0.09% at the time of writing, and pressured by the strength of the US dollar ahead of the announcement of the latest Fed policy decision. The Pound Sterling’s valuation is largely influenced by the Bank …

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  • 1 May 2024 7:34 pm

    US stocks slide following US labour data

    US stocks are suffering from pressures that push most indicators on Wall Street downward, following a new batch of US employment data that shed light on the continued growth of jobs in the United States, which is moving in the opposite direction to the conditions that the Federal Reserve prefers …

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  • 1 May 2024 3:23 pm

    Gold Holds Steady Close to 4-Week Low

    Gold prices steadied on Wednesday, hovering near a four-week low as investors awaited a decision from the US Federal Reserve that could offer insights into the timing of interest rate cuts. Spot gold settled at $2,285.69 per ounce by 0829 GMT, after hitting its lowest level since April 5 earlier …

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