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Although it recovered somewhat from monthly lows, the US Dollar Index (DXY) was still under pressure. In the third quarter, the US economy grew at an annualized rate of 5.2%, which was higher than the previous estimate of 4.9%. The US will release important data on Thursday, such as the …
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November, 2023
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30 November 2023 1:11 am
Inflation, other factors could trigger global economic slowdown in 2024
The Organization for Economic Cooperation and Development (OECD) is expecting international growth to slow down to 2.7% in 2024, the slowest annual growth since 2020’s pandemic.The combination of rising interest rates, high inflation, and wars is predicted to cause the world economy to contract in 2019. The OECD forecasts that …
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30 November 2023 12:26 am
Euro continues to lose ground against the Sterling
As the Euro declines in value relative to the Pound Sterling, the Euro/GBP is testing 0.8640. Consumer confidence in the eurozone does not change, but the business outlook does. The Euro is expected to lose ground to the Pound Sterling, setting up the pair for a fifth day of losses …
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29 November 2023 11:48 pm
Crude ignores US oil stockbuild, rises ahead of OPEC+ meeting
Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in US crude, gasoline and distillate stockpiles. Brent crude futures were up $1.01, or 1.2%, to $82.69 a barrel by 1:34 p.m. ET …
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29 November 2023 10:08 pm
USD/JPY aspires to stop its three-day declines
The US GDP exceeded forecasts in the third quarter, with a 5.2% increase compared to the anticipated QoQ print of 5.0%. However, Japan’s retail trade numbers continued to decline. The Fed’s Tom Barkin gave a hawkish demonstration, and Fedspeak is pulling markets in different directions. The USD/JPY is retreating towards …
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29 November 2023 9:10 pm
AUD/USD declines following higher than expected US GDP reading in Q3
As of writing, the AUD/USD pair has decreased by 0.50% and is currently trading at 0.6614. With a reported growth rate of 5.2% in Q3, the US economy grew at its fastest rate in almost two years, exceeding the 5% forecast. Along with employment data, traders of the AUD/USD pair …
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29 November 2023 8:19 pm
PCE expected to signal falling inflation that is still too high
The Fed’s preferred inflation index, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Thursday, November 30.Economists and researchers have published their forecast and estimates of the looming reading. The Fed-preferred inflation measure is expected to follow the CPI and show …
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29 November 2023 7:29 pm
Fed’s Barkin: Unwilling to rule out another interest rate hike
Tom Barkin, President of the Federal Reserve Bank of Richmond, said on Wednesday that he is unwilling to take another interest rate hike off the table. After these comments, the dollar holds modest daily gains, recovering from monthly lows. The DXY is up by 0.15%, at 102.90. Barkin believes that …
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29 November 2023 4:46 pm
Gold is at an almost 7-month peak as the dollar declines
Gold prices touched their highest levels in nearly seven months on Wednesday thanks to a decline in the dollar and US bond yields, with investors growing more confident that the Federal Reserve will cut interest rates during the first half of next year. By 06:32 GMT, gold in instant transactions …
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29 November 2023 4:15 pm
Dollar is recovering from its lowest level in three months
The dollar rose on Wednesday after falling to its lowest level in more than three months on hopes that the Federal Reserve will cut interest rates soon. The New Zealand dollar was one of the best performing currencies, rising 0.49 percent to $0.6166 after the Reserve Bank of New Zealand …
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29 November 2023 3:28 pm
German stocks touch their highest levels in 4 months amid signs of easing inflation
German stocks led gains in Europe on Wednesday after data indicated a decline in inflation in the country’s most populous state, reinforcing expectations that the European Central Bank will cut interest rates next year. The German DAX index rose 1 percent to touch a four-month high after data showed that …
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29 November 2023 12:07 pm
Nikkei closes lower under pressure from profit taking wave
The Japanese Nikkei index ended the session on Wednesday with a decline amid tepid trading, as investors continued to sell shares to take profits after a rise witnessed last week. The Nikkei index fell 0.26 percent to 33,321.22 points after opening with a decline of 0.49 percent and then rising …
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29 November 2023 11:45 am
Oil rises after Kazakhstan and Russia’s exports were disrupted by a storm
Oil prices rose on Wednesday after a storm in the Black Sea region disrupted Kazakhstan and Russia’s crude exports, raising fears of supply shortages as investors awaited a decisive decision from the OPEC+ alliance that could increase or extend production cuts. By 0127 GMT, Brent crude futures rose 33 cents, …
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