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Market Analysis

April, 2024

  • 10 April 2024 3:52 am

    RBNZ expected to keep rate unchanged

    After its monetary policy meeting on Wednesday, the Reserve Bank of New Zealand is anticipated to keep the Official Cash Rate (OCR) at 5.50% for the sixth consecutive meeting. Notwithstanding the fact that Governor Adrian Orr’s news conference was not held and that revised economic estimates were released, the New …

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  • 10 April 2024 12:52 am

    Bank of Japan intends to maintain the current monetary easing

    BoJ

    BoJ Governor Kazuo Ueda stated in his semi-annual report on currency and monetary supervision issued on Wednesday that, given the current conditions of economic activity and prices, he expects the current accommodative conditions to be maintained.In his estimation, Ueda believes that the 2 percent price stability target will be achieved …

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  • 9 April 2024 3:09 am

    Market Driers; US Session, April 8

    The US dollar was under pressure throughout the week’s bearish start, but the risk complex was able to gather itself and US rates moved marginally higher across the curve. Ahead of the crucial US CPI, FOMC Minutes, and ECB event, traders continued to evaluate the most recent payroll prints. Amidst …

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  • 9 April 2024 2:26 am

    Fuel Prices Trigger US Consumers’ Concerns

    FuelBuddy released its most recent statistics on Monday, which show that fuel costs are skyrocketing in most states and towns. In Louisville, for example, the average cost of a gallon of petrol increased by 27.5 cents over the previous week to $3.51, based on a survey covering 644 petrol stations. …

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  • 9 April 2024 1:17 am

    US Stocks Close Flat Ahead of CPI Data

    At the end of a turbulent North American session on Monday, US equities remained mostly steady as a solar eclipse provided some diversion ahead of the key CPI inflation data and the start of the first-quarter earnings season. The Nasdaq opened a new tab and finished marginally up, while the …

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  • 8 April 2024 10:45 pm

    Oil retreats amid fresh international calls for Middle East truce

    US West Texas Intermediate crude closed down 48 cents, or 0.6%, at $86.43, while Brent crude futures down 79 cents, or 0.9%, to settle at $90.38 a barrel. For Brent, it was the first drop in five sessions, and for WTI, it was the first in seven. A Hamas spokesman …

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  • 8 April 2024 10:27 pm

    Gold Rallies Ahead of CPI Data

    Gold is up 0.50%, trading at $2341.29 per ounce at the time of writing. Earlier on Monday, gold’s jump to $2,354 has been tempered by evolving Fed rate cut expectations and a resilient US jobs report. Potential further upside for Gold is expected with forecasts reaching up to $2,500 in …

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  • 8 April 2024 9:48 pm

    Positive Market Sentiment Pushes CAD to Minor Gains

    The Canadian Dollar has seen minor gains on Monday, extending its rebound from year-to-date lows after Friday’s upbeat Ivey PMI. This is due to a modest appetite for risk on a calm weekly opening, which allows some US Dollar pullback ahead of key macroeconomic data this week. The US economy …

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  • 8 April 2024 8:42 pm

    US Dollar Retreats Ahead of CPI Data

    The US Dollar Index is currently trading at 104.15 with mild losses, as traders await the March CPI report on Wednesday. The Fed’s cautious stance is calibrated in light of incoming data, with hot labor market figures reported last week potentially justifying the delay of the easing cycle. The US …

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  • 8 April 2024 4:10 pm

    Gold’s Record Surge Persists Amid Speculative Activity and Ongoing Middle East Tensions

    Gold prices continued their relentless ascent on Monday, propelled by speculative activity and persistent tensions in the Middle East, which overshadowed the robust US jobs data released last week. In spot transactions, gold climbed 0.3 percent to $2,335.73 per ounce by 0646 GMT, after reaching a record high of $2,353.79 …

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  • 8 April 2024 3:03 pm

    Dollar Holds Steady Before US Inflation Data

    On Monday, the dollar took a breather as investors turned their attention to upcoming U.S. inflation data later in the week, while the yen edged closer to 34-year lows amid ongoing vigilance for potential intervention measures in Tokyo to stabilize the weakening currency. Last week, the dollar experienced fluctuations as …

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  • 8 April 2024 1:34 pm

    Germany Drives European Stocks Higher as Attention Shifts to ECB Policy Meeting

    European shares saw a modest uptick on Monday, led by Germany’s DAX, following robust industrial production data from the region’s largest economy. However, cautious sentiment prevailed ahead of the European Central Bank’s policy decision later in the week. The STOXX 600 index edged up 0.2% by 0845, with Germany’s DAX …

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  • 8 April 2024 11:57 am

    German exports fall more than expected in February

    In February, German exports experienced a more pronounced decline than anticipated, primarily driven by reduced exports to European Union (EU) countries, according to data released by the Federal Statistics Office on Monday. The data revealed a 2% month-on-month decrease in exports for February, surpassing the Reuters poll forecast of a …

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