Oil prices regained some of their gains in early Asian trading on Wednesday, as investors balanced fears of major producers reducing production and attacks on cargo ships in the Red Sea with weak expectations for a cut in US interest rates. Brent crude futures rose 12 cents, or 0.15 percent, …
Read More »Will Cracks Emerge in US-Japan Trade Deal?
Discrepancies Over Investment and Profits:A seemingly triumphant announcement of a preliminary trade…
Gold Miner Shines: Earnings Soar as Precious Metal Prices Climb
Shares of a leading gold mining company surged on Friday, reaching their highest level in three year…
Political Firewalls Weaken: Are Powell’s Stance, Fed’s Independence Still Under Threat?
A significant shift is underway in the political landscape surrounding the Federal Reserve. While Pr…
Dow Jones Rebounds: Unexpected Durables Strength and Tariff Hopes Fuel Market Rally
The Dow Jones Industrial Average (DJIA) demonstrated a notable recovery on Friday, clawing back rece…
Oil Under Pressure: Brent and WTI Drop as Supply Surges and Demand Outlook Clouds
Global oil markets are facing renewed pressure, with both West Texas Intermediate (WTI) and Brent cr…
US Treasury Yields Climb As Countdown For Fed’s Policy Meeting Begins
As financial markets gear up for the central bank’s pivotal meeting next week, the US 10-Year …
Euro Stands Strong Amidst Global Trade Disputes
The Euro has demonstrated remarkable resilience in recent months, emerging as a top performer among …
Major Trade Breakthrough: EU and US Nearing Framework Agreement This Weekend
Optimism is building for a significant advancement in transatlantic trade relations, as officials fr…
U.S. Stock Futures Edge Higher as Investors Digest Earnings and Trade Deal Optimism
U.S. stock index futures were on the rise Friday, capping off a generally positive week as investors…
Bitcoin Drops Below $116,000 as Caution Mounts Ahead of U.S. Fed Meeting and Crypto Policy Report
Bitcoin faced a decline on Friday, dropping below $116,000 amidst growing caution in the market. The…
Market Analysis
February, 2024
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21 February 2024 5:00 am
Market Drivers – US Session, February 20
The US Dollar has weakened amid speculation that the Federal Reserve will delay the first rate cut. The odds for a 25 basis points (bps) March rate cut have decreased to 34.4%, while June ones have increased to 55.1%. Stock markets are tepid, with Wall Street spending most of the …
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21 February 2024 3:33 am
EUR/USD climbs ahead of FOMC minutes, Eurozone PMIs
Early on Tuesday, the EUR/USD pair moved above 1.0800 and tested the 1.0840 zone. A widespread sell-off of US dollars supports the Euro. Markets are awaiting EU PMIs and Fed meeting minutes.Tuesday saw the EUR/USD pair reach a two-week high just shy of 1.0840 as the dollar widely declined. However, …
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21 February 2024 2:14 am
USD/CAD bounces after Canadian CPI data
The USD/CAD pair experienced early declines before rebounding into an intraday high of 1.3530 after Canadian Consumer Price Index (CPI) inflation fell faster than expected. This softened the Canadian Dollar (CAD) across the board. Markets will focus on the Federal Reserve (Fed) and the Federal Open Market Committee (FOMC) as …
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21 February 2024 1:04 am
WTI crude oil settles lower amid global demand concerns
With worries about global demand outweighing price support from the Israel-Hamas conflict, oil prices settled down on Tuesday. While US West Texas Intermediate (WTI) crude for March delivery finished down $1.01, or 1.3%, at $78.18 a barrel, Brent futures settled down $1.22, or 1.5%, to $82.34 a barrel. At $77.04 …
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20 February 2024 11:37 pm
S&P 500, Nasdaq decline as Nvidia leads tech retreat
On Tuesday, stocks experienced a decline as Nvidia led a broader tech decline ahead of the chipmaker’s earnings report. The Dow Jones Industrial Average dipped 107 points, or less than 0.9%, while the S&P 500 slipped 0.8%. The tech-heavy Nasdaq Composite lost 1.4%. Shares of Nvidia fell about 6%, and …
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20 February 2024 10:57 pm
US dollar weakens after Presidents’ Day, ahead of FOMC minutes
The US Dollar Index, DXY, weakens as the US returns from holiday, trading modestly lower. No relevant reports were released during the session, while markets await fresh catalysts. All eyes are now on FOMC minutes from January’s Federal Reserve meeting on Wednesday.The dollar is trading in the red territory, modestly …
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20 February 2024 10:10 pm
FOMC minutes awaited for clues on inflation battle, growth
The Fed’s recent rate decision meeting minutes are expected to highlight the complex economic challenges the US central bank faces, as it aims to balance inflation control with economic growth. Markets are realigning expectations to the Fed’s gradual rate cut plan, illustrating the complex economic environment investors and market participants …
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20 February 2024 9:24 pm
AUD/USD retreats following RBA-fueled rally
The Australian dollar rose after the Reserve Bank of Australia (RBA) considered rate cuts. The RBA held rates steady, but investors will be watching the Federal Open Market Committee’s latest Meeting Minutes on Wednesday to determine the US Fed’s proximity to cutting interest rates.The RBA’s internal dialogue appears to lean …
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20 February 2024 8:27 pm
Gold price surges as Fed sees inflation declining in long term
Gold is up +0.58%, trading $2029.70 per ounce at the time of writing. The belief among Fed policymakers that inflation will eventually decline has helped to drive up the price of gold by decreasing the opportunity cost of storing non-yielding assets like gold. It is anticipated that the preliminary S&P …
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20 February 2024 7:16 pm
EUR/USD climbs after EU’s Current Account surplus
EUR/USD has risen to 1.0833 due to the Eurozone’s widened current account surplus and a quiet US market. The ECB wage data and Lagarde’s remarks suggest a measured easing stance, awaiting Q1 insights. The US Leading Index and forthcoming FOMC minutes are expected to guide EUR/USD amidst varying expectations. The …
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20 February 2024 5:56 pm
Softening Inflation in Canada Eases Market Concerns
Statistics Canada’s latest report revealed a softening in inflation for Canada, with the Consumer Price Index (CPI) showing a decrease to 2.9% on a yearly basis in January from 3.4% in December. This figure fell below market expectations, which were anticipating a rate of 3.3%. Additionally, on a monthly basis, …
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20 February 2024 3:59 pm
Russia Affirms Commitment to OPEC+ Quota Amid Oil Refining Decline
Russian Deputy Prime Minister Alexander Novak reaffirmed Moscow’s commitment to adhere to its quota within the OPEC+ agreement, despite a recent decline in oil refining. Novak’s statement, reported by the Russian TASS news agency on Tuesday, underscores Russia’s dedication to the collaborative effort led by the Organization of the Petroleum …
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