Gold prices found stability on Wednesday as traders eagerly anticipated insights from numerous Federal Reserve officials scheduled to speak this week, seeking clarity on the potential timeline for interest rate adjustments. Spot Gold Holds Steady In the early hours of trading, the price of gold in spot transactions held firm …
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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7 February 2024 2:08 am
Market Drivers – US Session, February 6
The US dollar’s correction caused the USD Index (DXY) to retreat from its previous annual highs, which were located at 104.60, in the face of similarly low US yields. On February 7, a number of Fed speakers, including Kugler, Collins, Barkin, and Bowman, will be speaking along with the Balance …
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7 February 2024 2:03 am
Gold seen firmer on softer US dollar as traders await Fed speakers
Following a decline in the US dollar and Treasury yields, gold saw a rise on Tuesday as traders braced themselves for statements from multiple Federal Reserve officials this week, which would likely provide insight into the rate of interest rate reductions this year.Gold Firmer on softer US Dollar As of …
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7 February 2024 12:50 am
EUR/USD flat despite positive European data
The EUR/USD is trading near previous lows as Euro bidders seek a foothold. European numbers came in better than predicted, but they still show a sluggish home European economy. The pair has little momentum as both the US dollar and the Euro fall. At the time of writing, the pair …
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7 February 2024 12:05 am
WTI surges amid output adjustment, softer dollar
The US crude oil benchmark, WTI, rose 0.87% to $73.51, driven by a weaker US Dollar and lower oil output forecasts. The Fed’s cautious interest rate outlook, with Loretta Mester highlighting a data-driven approach, has influenced market sentiment. The US Energy Department’s report lowering oil output and the Fed’s cautious …
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6 February 2024 11:29 pm
What challenges and opportunities does Eurozone have next months?
The eurozone economy has weakened throughout 2023, with the Composite Purchasing Managers’ Index dropping below 50 in June, signifying a moderate contraction. This weakness stemmed from Europe’s recovery from an energy shock, as well as a lack of fiscal support in comparison to the more resilient US economy. Interest rate …
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6 February 2024 10:33 pm
US dollar slides on profit taking, Mester’s comments
The Dollar Index temporarily dipped below 104.20 on Tuesday, one day after reaching its best level in nearly three months on good economic data and the Fed’s hawkish stance on interest rates, with the US service sector exhibiting resilience, prompting markets to disregard an interest rate cut in March. Loretta …
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6 February 2024 9:31 pm
Wall Street opens mostly higher as focus shifts to earnings
After opening mostly higher, US stocks experienced a decline in early trading on Tuesday, with the S&P 500 falling about 0.1% and the Nasdaq Composite dropping about 0.3%. The Dow Jones Industrial Average rose by 0.1% on Monday, following a warning from Fed Chair Jerome Powell that the Federal Reserve …
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6 February 2024 9:03 pm
China’s imports of key commodities make a strong new year start
China’s imports of major commodities have made a strong start to the new year. However, caution is needed due to the potential influence of the Lunar New Year holidays, which fall entirely in February this year. This could have boosted imports of crude oil, liquefied natural gas (LNG), thermal coal, …
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6 February 2024 8:35 pm
Could China Admit Need for Urgent Economic Recovery?
As China prepares for the Lunar New Year holiday, the mood is generally positive, with state media expressing optimism. However, there is growing discontent and hopelessness among the population, who are feeling battered by months of economic uncertainty, falling employment, and a warning housing crisis. The Chinese government’s attempts to …
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6 February 2024 7:48 pm
USD/JPY closer to weekly highs amid Powell’s hawkish comments, US data
The USD/JPY pair is slightly down close to week’s high, following Powell’s hawkish comments.Powell’s caution on early rate cuts contrasts with strong US job growth in January.Rising US Treasury yields and solid ISM PMIs highlight a robust US economic outlook, supporting the Dollar.Despite BoJ’s negative rate policy hints, Japan’s data …
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6 February 2024 4:36 pm
Gold Prices Hover as Investors Await Clarity on Fed’s Stance
Gold Prices Hover as Investors Await Clarity on Fed’s Stance In the European trading session on Tuesday, Gold prices (XAU/USD) exhibit a lack of decisive movement, ensnared within a tight range, as market participants eagerly await key insights from Federal Reserve (Fed) officials regarding their outlook on interest rates. The …
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6 February 2024 4:05 pm
German Government Approves $17 Billion Plan to Support Hydrogen-Ready Gas Power Plants
The German Economy Ministry announced on Monday its approval of plans to provide subsidies totaling $17 billion to support gas power plants capable of converting to hydrogen. This initiative aims to address the intermittency of renewable energy sources and expedite the transition to low-carbon power generation. Key Points: Purpose: The …
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