Bitcoin prices continued their downward trend on Wednesday, reflecting a broader week of losses. The decline is largely attributed to a weak risk appetite among traders, driven by growing uncertainty surrounding the U.S. political landscape. In the past 24 hours, Bitcoin fell by 1.7%, bringing its price down to $65,793.50 …
Read More »Bitcoin Sinks Below $90K Amid Fed Uncertainty; Cloudflare Outage Adds to Market Strain
Bitcoin slid to its lowest level in nearly seven months on Tuesday, briefly breaching the $90,000 th…
Wall Street Extends Losses as Nvidia Earnings, Delayed Jobs Data Keep Risk Appetite in Check
U.S. equities fell Tuesday, deepening November’s pullback as investors trimmed exposure to mega-cap …
U.S. Factory Orders Rebound in August, but Core Capex Softer Than First Estimated
U.S. new orders for manufactured goods rose in August, snapping the prior month’s decline, though a …
Dollar dips as dovish Fed comments weigh; euro steadies, yen firms on rising JGB yields
The U.S. dollar edged lower on Tuesday as investors digested dovish remarks from Federal Reserve Gov…
Oil slips as Russian exports resume; traders eye sanctions drag and 2026 surplus
Crude prices fell nearly 1% on Tuesday after Russia’s Novorossiysk port resumed loadings, easing imm…
Bitcoin sinks below $90,000 as Fed uncertainty and data backlog sap risk appetite
Bitcoin slid to its lowest level in nearly seven months on Tuesday, breaking below the $90,000 handl…
European shares slump as AI valuation jitters deepen; Nvidia in focus, oil eases as Russian exports resume
European equities fell sharply, mirroring Wall Street’s tech-led selloff as investors questioned the…
Gold slips as dollar firms; markets eye delayed U.S. payrolls
Gold extended losses in Asian trading, pressured by a firmer U.S. dollar as traders pared back expec…
U.S. Stocks Rise on Strength in Chipmakers and AI Shares
U.S. equity markets opened the week higher, supported by strong performance in technology stocks, pa…
Canada inflation slows to 2.2% in October as gasoline, food and mortgage costs ease
Canada’s annual inflation cooled to 2.2% in October, helped by cheaper gasoline, slower grocery infl…
Market Analysis
July, 2024
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24 July 2024 11:14 am
Oil Prices Rebound as U.S. Crude Inventories Decline and Canadian Wildfires Impact Supply
Oil prices experienced a notable rebound on Wednesday, halting a three-day streak of losses. The uptick in prices was driven by a combination of decreasing U.S. crude inventories and heightened supply risks due to wildfires in Canada. Brent crude futures for September increased by 40 cents, or 0.5%, reaching $81.41 …
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24 July 2024 2:07 am
Can Fed, ECB Fully Adjust Their Monetary Strategies?
The Federal Reserve introduced flexible average inflation targeting (FAIT) in 2019-20 to improve performance in a low interest rate world. The Fed believed it had a problem with low inflation, as its preferred measure of inflation had averaged just over 1.5% between 2010 and 2019. The review committing the central …
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24 July 2024 1:32 am
Market Drivers; US Session, July 23
Despite a little decline in US Treasury yields, the USD Index saw some gains and returned to the 104.50 region. The preliminary S&P Global Manufacturing and Services PMIs and advanced goods trade balance are due on July 24, with new home sales coming in second. In addition to continuing Monday’s …
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24 July 2024 12:29 am
US Stocks’ Recent Uptrend halted Ahead of Tech Giants’ Earnings
Stocks’ rally to record highs in 2024 has come to a pause as corporate earnings season begins to highlight the market’s true potential; Attention is now turning to the profits of the technology sector, especially the so-called “Great Seven”, the technology giants: Apple, Microsoft, Meta Platforms, Amazon, Tesla, Alphabet (the …
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23 July 2024 11:48 pm
Japanese Yen Boosted Senior Japanese Politician’s Remarks
By The USD/JPY pair has plummeted over 0.85% and dropped below the Ichimoku Cloud (Kumo) for the first time since January 15, hinting at possible extended downtrend. Bearish RSI suggests further falls, with supports at 155.00, 154.55, 151.86, and resistance at 156.33. A breach may push to 157.00, potentially reversing …
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23 July 2024 10:12 pm
US yields, Fed rate cut bets push XAU/USD higher
Gold prices have risen above $2,400, ending a four-day losing streak due to falling US Treasury yields. Market players are awaiting crucial economic data, including June’s inflation and Q2 GDP, to gauge the Fed’s next move. India’s import tax cut on gold and silver has also boosted retail demand, supporting …
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23 July 2024 9:14 pm
Bitcoin Shaken, But not battered by Mt. Gox’s $2.8 Billion Outflows
Tuesday saw a brief decline in the price of bitcoin when the trustee in charge of the defunct Mt. Gox exchange transferred an astounding $2.8 billion worth of the cryptocurrency into two different wallets. Though they caution of a possibly chaotic week ahead owing to impending news events, analysts believe …
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23 July 2024 8:10 pm
Is Quantitative Tightening Causing a Cash Crunch for BoE?
Exploring the realm of central bank reserves and the recently created Short-Term Repo (STR) program by the Bank of England is crucial. It investigates if this instrument is pointing to a possible problem with the Bank’s strategy to use quantitative tightening to reduce the size of its balance sheet. Background …
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23 July 2024 7:24 pm
Will BoC cut interest rates for the second successive time?
The Bank of Canada is set to cut interest rates for a second straight meeting to avoid a recession and prevent an inflation flare-up. Governor Tiff Macklem stated that he sees a soft landing, a slowdown that cools price pressures without triggering mass job losses. He became the first Group …
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23 July 2024 3:00 pm
Tech Earnings in Focus as U.S. Stock Futures Stabilize
U.S. stock index futures steadied on Tuesday morning, ahead of crucial earnings reports from tech giants Alphabet and Tesla. These reports are expected to significantly influence market sentiment in the coming weeks. At 06:40 ET, Dow Jones Futures edged up 0.1%, S&P 500 Futures mirrored the Dow’s gains, while Nasdaq …
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23 July 2024 12:02 pm
European Shares Steady as Tech Gains Offset Miner Losses Amid Earnings and ECB Outlook
European stocks opened flat on Tuesday, with gains in the technology sector balancing out losses in metal miners. This balanced start follows the market’s best performance in over a month on Monday. Driving the technology sector’s upward momentum were strong earnings reports from software giant SAP and computer peripherals manufacturer …
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23 July 2024 10:32 am
Asian Stocks Mostly Rise on Tech Rebound, China Lags Despite Rate Cut
Asian stock markets saw a mixed performance on Tuesday, with most indices rising as technology stocks rebounded from recent losses. However, Chinese markets remained under pressure due to ongoing concerns about the country’s economic outlook and the potential for renewed trade tensions with the U.S. under a possible Donald Trump …
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