Improved global risk sentiment and a decline in US Treasury yields have caused gold prices to retreat from daily highs, further pressuring the US dollar. The precious metal is down 0.93%, at $2360.60 per ounce.Although US Federal Reserve officials have been hawkish, there has been a bullish momentum. The US …
Read More »Gold Price Stabilizes Higher Amid Middle East Escalation Woes
Gold price has stabilized +0.40% trading at %2387.80 per ounce after the precious metal’s earlier su…
How Has Wall Street React to Netflix earnings?
Wall Street is somehow divided regarding Netflix’s first-quarter earnings. After the release o…
USD/CHF edges up following Fed Golsbee’s comments
The US Dollar has retraced losses and is now at levels below 0.9100. A doji candle in the weekly cha…
Market Participants Still Focusing on Policy Divergence
The US dollar reached new heights this week due to bets on when the Fed will most likely begin its e…
Fed’s Goolsbee: Makes sense to wait to get more clarity before moving
Federal Reserve Bank of Chicago President Austan Goolsbee argued on Friday that it would make sense …
Russia reduces the share of the Middle East and OPEC in the Indian oil market to unprecedented levels
European stock markets opened lower on Friday, hitting their lowest levels in over a month as concer…
European stocks fall to the lowest level in a month due to tension in the Middle East
European stock markets opened lower on Friday, hitting their lowest levels in over a month as concer…
Japan’s Nikkei fell as chip-related stocks fell and tension in the Middle East
Japan’s Nikkei index suffered its most significant daily decline in over two and a half years …
Oil prices jump 3 percent amid reports of Israeli strikes on Iran
Oil prices surged by $3 a barrel on Friday following reports of Israeli missile strikes on a site in…
Gold rises amid fears of the expanding scope of the conflict in the Middle East
Gold prices climbed on Friday as risk aversion gripped financial markets following reports of bombin…
Market Analysis
April, 2024
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18 April 2024 1:36 am
GBP/USD slides after recording some gains post-UK inflation data
Bets on the beginning of the BoE’s easing cycle is pushed back by market watchers to September. The US Dollar gained strength on Tuesday due to Fed Chair Powell’s hawkish outlook. The Pound might benefit further when the Fed and BoE’s policies coincide. With earlier gains for the day, the …
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18 April 2024 12:06 am
Chip Stocks Drop Following Noteworthy Earnings Report
Chip stocks dropped on Wednesday on the announcement by ASML, a significant manufacturer of machinery used in semiconductor manufacturing, of a 61% sequential decline in bookings for the first quarter. The equipment required to produce the world’s most sophisticated semiconductors, which may cost hundreds of millions of dollars apiece, are …
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17 April 2024 11:49 pm
US Dollar Retreats Following Fed’s Beige Book, Lower Treasury Yields
The Fed’s Beige Book showed slight economic activity expansion since late February, but Fed Chair Jerome Powell warned that there is little progress on inflation and that the bank remains data-dependent. The possibility of a rate cut in the next meeting in June stands at around 15%, and the chances …
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17 April 2024 10:31 pm
ECB’s Lagarde: The fight against inflation is not over
European Central Bank’s President Christine Lagarde speaks in Washington, DC. A firmer upside momentum now lifts EUR/USD pair to the area of daily highs near 1.0680.Earlier on Wednesday, Lagarde tweeted saying, “Later today I will be speaking at the Council on Foreign Relations about the European economy and implications of …
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17 April 2024 9:28 pm
Crude oil losses continue on lower demand concerns, higher oil stocks
Oil prices are reversing more quickly than expected as US reserves surge. The prospect of longer-term higher interest rate environment is raising worries about a decline in crude oil prices. The impact of geopolitical concerns has been mitigated by these fears. On Wednesday, there will be a significant decline in …
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17 April 2024 8:12 pm
BoE’s Bailey: Inflation will drop strongly in the next month
Bank of England’s Governor Andrew Bailey speaks in the wake of the pick up in UK inflation figures in March.GBP/USD keeps the tight range in the low 1.2400s, fading the initial bullish move to the 1.2480 zone on the back of the ongoing bounce in the Dollar.Key QuotesWe’re pretty much …
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17 April 2024 7:08 pm
ECB’s Nagel: Eurozone price pressures could continue for some time
In an interview on Wednesday, European Central Bank policymaker and Bundesbank Chief Joachim Nagel said that price pressures in the Eurozone could continue for some time, per Reuters.“It’s not completely clear if the inflation rate will reach 2% target next year and stay at this level,” Nagel added and noted …
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17 April 2024 5:08 pm
US Futures Rise with Megacap Support; Eyes on Earnings and Fed
Wednesday kicked off with a surge in U.S. stock index futures, propelled by the robust performance of megacap growth stocks. Investors were captivated by a flurry of corporate earnings reports and insights from Federal Reserve policymakers, eagerly seeking clues about the health of the economy. Before the opening bell, megacap …
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17 April 2024 4:45 pm
Bitcoin Slipping Below $63k Amidst Dollar Doldrums and Rate Resistance
Bitcoin experienced a slight dip in price on Wednesday, maintaining its position within a trading range established over the past month. The market sentiment continued to be delicate as U.S. interest rates remained elevated. Recent sessions witnessed a surge in the strength of the dollar, putting pressure on crypto markets. …
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17 April 2024 3:46 pm
Oil declines as US inventories rise and global demand concerns
Oil prices fell for the third straight session on Wednesday, amid the potential impact of rising US crude inventories, global demand concerns stemming from weak economic data from China and bleak prospects for an interest rate cut. Brent crude futures for June delivery fell 21 cents, or 0.2 percent, to …
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17 April 2024 2:45 pm
Japan’s Nikkei closed below 38,000 points for the first time since February
Japan’s Nikkei index fell for the third day in a row on Wednesday, closing below 38,000 points for the first time in two months, as tension in the Middle East affected morale and investors took profits before the corporate results announcement season reached its peak. The Nikkei index closed down …
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17 April 2024 2:10 pm
European stocks stabilize with focus on the quarterly reports
European stocks stabilized on Wednesday, hovering near their lowest levels in more than a month, with the spotlight on the quarterly earnings reports of companies such as (ASML), (LVMH), and (Adidas (ETR:ADSGN)). At a time when investors are monitoring developments in the Middle East. The European STOXX 600 index stabilized …
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