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January, 2024

• 2 January 2024 11:52 pm

  Traders’ Attention Shifts To FOMC Minutes, JOLTS Report

  

  On Wednesday, traders’ attention will be centered on US economic data, with bets on the direction of interest rates continuing, as earnings and updates are once again scarce.Fed is determined to monitor emerging economic data before indicating any changes to future monetary policy, so the Job Openings and Labour Turnover …

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• 2 January 2024 11:14 pm

  Canada’s dollar slides against US counterpart on PMI data

  

  The Canadian Dollar is easing back against the US Dollar as the 2024 trading year begins, with the Canadian S&P Global Manufacturing Purchasing Managers’ Index (PMI) falling to a 43-month low. The US Manufacturing PMI component also fell below expectations, keeping market risk appetite low and propping up the US …

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• 2 January 2024 9:51 pm

  Wall Street begins 2024 down on surging yields rise

  

  The first trading session of 2024 saw a decline in the US stock market as investors lowered their expectations for interest rate cut this year. Tuesday’s drop in Apple shares is due to a downgrade by Barclays. Tesla continues to deliver record numbers in Q4. The drab beginning comes after …

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• 2 January 2024 8:34 pm

  Swiss Franc weakens against the US Dollar on first 2024’s trading

  

  On first 2024’s trading, the Swiss franc starts losing ground against the US dollar as the latter strengthened due to rising Treasury yields. This implies that bond traders might be indicating that they believe the inflation outlook will be more difficult than anticipated. Higher US Treasury rates, which have increased …

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• 2 January 2024 7:46 pm

  Gold declines, still within bullish zone on rate cut bets

  

  Gold prices are gaining momentum for 2024, with prospects of a Fed interest rate reduction starting in March. Factors boosting rate-cut hopes include a 2% decline in underlying inflation and easing labor market conditions due to restrictive monetary policy. However, the precious metal faces a marginal sell-off as the US …

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• 2 January 2024 4:00 pm

  Dollar begins 2024 with a rise, and Bitcoin exceeds $45,000

  

  On the first trading day of the new year, the dollar saw an increase in value as investors turned their attention to upcoming economic data that could provide insights into the Federal Reserve’s future moves. Bitcoin also experienced a rise, exceeding $45,000 for the first time since April 2022. In …

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• 2 January 2024 2:19 pm

  European stocks begin the new year with the highest level in 23 months

  

  On Tuesday, Europe’s benchmark stock index reached its highest level in nearly two years, driven by optimistic expectations among investors at the beginning of 2024 that major central banks are likely to adopt interest rate cuts. Energy sector stocks led the gains in the European STOXX 600 index, which rose …

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• 2 January 2024 1:26 pm

  The Turkish lira falls to a new record level after falling 37% last year

  

  The Turkish currency, the lira, reached a new record low on Tuesday, dropping to less than 29.7 liras to the dollar. This decline is part of a series of losses that gained momentum towards the end of 2023, with the lira concluding the year down by approximately 37 percent. At …

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• 2 January 2024 12:11 pm

  Oil begins the new year with a 1% jump

  

  Oil prices surged by 1 percent on Tuesday, initiating the new year on a positive note. The uptick was attributed to a naval clash in the Red Sea, drawing attention to potential supply disruptions in the Middle East. Additionally, expectations of economic stimulus in China bolstered demand prospects in the …

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• 2 January 2024 11:01 am

  Bitcoin exceeds $45,000 for the first time since April 2022

  

  Bitcoin demonstrated a notable surge on Tuesday, registering a three percent increase and surpassing the $45,000 barrier. This marks a significant milestone for the world’s largest and most renowned cryptocurrency, representing a robust commencement to the new year. Bitcoin reached a 21-month high at $45,386 earlier today, experiencing a two …

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December, 2023

• 31 December 2023 11:48 pm

  Financial Markets’ Weekly Recap, December 24-28

  

  A few days ahead of the end of the 2023 trading year, the USD/JPY pair was back in the 141.00 level. Following the holidays, the US dollar had a thin week, ending the trading year on Friday with a 0.3% decline versus the Japanese yen.There was an annual loss of …

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• 29 December 2023 8:45 pm

  Oil price expected to stay near $80 on slow demand

  

  A poll conducted by Reuters, on Friday, indicated that international oil prices are expected to remain around $80 per barrel in 2024, with analysts predicting that weak global growth would limit demand and geopolitical concerns might trigger price support.Analysts questioned if supply reductions by the Organization of the Petroleum Exporting …

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• 29 December 2023 8:18 pm

  Gold approaches $2070 amid improved market sentiment

  

  Gold prices have shown strength as the US Dollar faces challenges due to improved market sentiment. Softer US data supports the Fed’s dovish stance in upcoming policy meetings, boosting investor risk appetite. Gold price was trading higher near $2,070 per ounce during the Asian session, recovering losses from the previous …

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