The strong Consumer Confidence and Housing sector data was not enough to trigger big movements in the US dollar. Next highlight will be Wednesday’s Fed’s Beige Book report where markets will get a clearer outlook on the US economy’s health.PCE and GDP revisions are the week’s highlights. The US Dollar …
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
May, 2024
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28 May 2024 7:14 pm
Fed’s Kashkari does not rule out interest rate hikes
Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …
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28 May 2024 3:07 pm
U.S. Stock Market Embraces Faster Settlement, But Initial Challenges Loom
The U.S. stock market is transitioning to a shorter settlement cycle on Tuesday, a move regulators hope will reduce risk and enhance efficiency in the world’s largest financial market. However, this shift is expected to temporarily increase transaction failures for investors as they adapt to the accelerated timeline. Under the …
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28 May 2024 12:41 pm
Dollar Dips Amid Risk Sentiment, Awaits Inflation Data
The U.S. dollar experienced a slight dip in early European trading on Tuesday, attributed to a minor uptick in risk sentiment. However, trading ranges remained narrow as investors eagerly awaited the release of crucial inflation data. As of 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against …
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28 May 2024 11:50 am
European Stocks Mixed as Investors Await Inflation Cues
European stock markets displayed a mixed performance on Tuesday, with the return of U.K. markets after a holiday break. Investors eagerly anticipated key inflation data from both Europe and the United States, seeking insights into the future direction of monetary policy. Early in the trading day, Germany’s DAX index edged …
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28 May 2024 11:04 am
Gold Stabilizes as Inflation Data Takes Center Stage
Gold prices found their footing in Asian markets on Tuesday, buoyed by a slightly weaker dollar. Traders were on edge, awaiting a series of crucial inflation readings this week, particularly the U.S. Personal Consumption Expenditures (PCE) index. The precious metal managed to recover some of its losses from the previous …
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28 May 2024 5:14 am
Market Drivers – US Session, May 28
Bitcoin closed on an upward trajectory, driven by news of collaboration between Argentina’s Securities and Exchange Commission and El Salvador. The two countries are exploring further adoption of cryptocurrencies. BTC’s global spread closed at $69,528 per unit, slightly higher than the previous day’s closing price of $68,489. However, the larger-cap …
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28 May 2024 4:50 am
3 Drivers Behind Euro’s Uptrend
The euro closed Monday’s trading higher rise, driven by an improvement in risk appetite cross financial markets, fresh German economic data, in addition to some other factors related to monetary policy. Wall Street has seen intensive stock buying since the beginning of morning trading in the markets on the first …
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28 May 2024 1:57 am
Pound Sterling consolidates its uptrend as fresh catalysts awaited
Early on Tuesday’s the Asian session, the GBP/USD pair is trading slightly in the green near 1.2770. In response to the Fed’s hawkish remarks and the positive US statistics, traders reduce their bets on interest rate reductions by the Fed. The GBP could rise if the BoE decides to hold …
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28 May 2024 12:51 am
EU and US Stocks Close Higher on Rate Outlook, Dollar’s Decline
In sparse trading, European stocks rose after an ECB official hinted that rate reduction could be considered gradually beginning next month. With US markets closed, Nasdaq 100 futures increased 0.4% to a record high. A little increase was led by automakers and utilities in the Stoxx Europe 600 index. Due …
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27 May 2024 11:20 pm
US Dollar stays in red territory ahead of GDP, PCE data
Data on US income, spending, consumer confidence, and Q1 GDP will likely shape the US Dollar Index’s trajectory this week.Fed’s Beige Book report on Wednesday is expected to suggest a balanced economic backdrop. Investors anticipate less than 80% odds of November rate cut and 50% chance of cut in September. …
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27 May 2024 9:25 pm
Why does Billionaire Palihapitiya See US Economy in Recession?
In an episode of the All-In Podcast, billionaire Palihapitiya discusses why over half of Americans believe the US economy is in a recession despite a 1.6% GDP rise last quarter. He suggests that the negative sentiment may be due to the components used to measure the GDP, which may give …
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27 May 2024 8:43 pm
Canadian Dollar gains momentum versus the weaker US counterpart
The Canadian dollar surpasses the US dollar on Monday, but its success is inconsistent. Up until Friday’s GDP data, Canada doesn’t add much of importance to the economic calendar. The US markets are closed on Memorial Day, with low trading turnover. Due to a calm US market session, the Canadian …
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