The DXY exhibits mild daily gains in Friday’s North American session. The Federal Reserve’s measured approach alongside a robust labour market continue to diminish expectations of rate cuts. The market expects no chance for a March rate cut and less than a 25% chance of a cut in May. Investors …
Read More »EUR/USD Surges as US Inflation Stokes Fed Rate Cut Doubts
The EUR/USD pair powered through a second straight week of gains, climbing to a high of 1.1730 and s…
Sanctions and Inflation Sink Russia as Putin Hits Alaska’s Stage
As world leaders gear up for a high-stakes summit in Anchorage, Alaska, Russia’s walking into the ri…
Dow Jones Hits Record High but Stumbles as Consumer Confidence Wanes
The Dow Jones Industrial Average soared to a fresh all-time high of 45,277 on Friday, breaking past …
Dollar Struggles as Gold Holds Steady Ahead of Trump-Putin Summit
The US Dollar struggled to gain traction on Friday, keeping bullion prices firm as market participan…
Yen Surges as Japan’s GDP Shines, US Economic Data Falters
The Japanese Yen (JPY) is gaining ground against the US Dollar (USD), pushing the USD/JPY pair towar…
USD/CHF Slides Toward 0.8050 as Weak US Data Puts Pressure on the Dollar
The Swiss Franc (CHF) strengthened against the US Dollar (USD) on Friday, with the USD/CHF pair easi…
Gold Struggles Near Two-Week Low as Rising Yields Offset Dollar Weakness
Gold prices hovered near a two-week low on Friday, finding limited support from a softer US Dollar, …
Trump and Putin Meet in Alaska for High-Stakes Talks on Ukraine and Nuclear Deal
U.S. President Donald Trump and Russian President Vladimir Putin are set to meet on Friday at a Cold…
European Stocks Near Five-Month High as Earnings Optimism Outweighs Inflation Concerns
European equities advanced on Friday, with the pan-European STOXX 600 climbing 0.2% by 07:17 GMT, bu…
Gold Edges Up in Asia Despite Weekly Losses Amid Fed Rate Speculation
Gold prices in Asian trade on Friday inched higher, though they were set for a weekly decline, as in…
Market Analysis
February, 2024
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23 February 2024 8:33 pm
Fed speakers continue to dash Wall Street hopes of rate cut
A number of Federal Reserve policymakers have cautioned against reducing US interest rates excessively or prematurely in light of January’s unexpectedly high inflation. They essentially confirmed the minutes from the Federal Reserve’s most recent meeting in January, which revealed that the majority of central bank officials were apprehensive about the …
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23 February 2024 7:53 pm
EUR/USD marginally lower following mixed German data
The EUR/USD pair is trading at 1.0817, down 0.05% from the previous day’s gains against the dollar. The Eurozone’s largest economy contracted by 0.3% in Q4 2023, while business sentiment improved. The US economic calendar is absent, but recent unemployment claims figures and S&P Global Flash PMIs justify Fed officials’ …
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23 February 2024 3:45 pm
European Stocks Open Higher as Standard Chartered and BASF Results Drive Gains
: European Markets Await ECB Guidance Amidst Positive Corporate Results European stocks opened on a positive note on Friday, buoyed by robust earnings reports from companies such as Standard Chartered and BASF. However, traders exercised caution ahead of statements from policymakers at the European Central Bank (ECB), including President Christine …
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23 February 2024 3:44 pm
Dollar Poised for First Weekly Decline in 2024
Currency Markets Reflect Changing Sentiment Currency markets experienced notable shifts this week, with the dollar poised to record its first weekly decline in 2024. Investor sentiment recalibrated following diminished expectations of imminent interest rate cuts by the Federal Reserve, fueling a rebound in the US currency. Meanwhile, the yen faced …
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23 February 2024 1:27 pm
Yen Plummets Against Major Currencies as Investors Seek Higher Returns Elsewhere
Introduction: Yen’s Downward Spiral This week witnessed a continued decline in the value of the yen against key currencies such as the euro, pound sterling, and the US dollar. Investors, eager for better returns outside Japan’s near-zero interest rate environment, drove the yen to new lows, marking its fourth consecutive …
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23 February 2024 11:51 am
Oil Prices Retreat as Fed Official Delays Rate Cut Plans
Oil Market Reacts to Federal Reserve Commentary Oil prices retreated on Friday following remarks from a Federal Reserve official suggesting a delay in interest rate cuts for at least two additional months. The market responded swiftly to the news, recalibrating expectations amidst evolving monetary policy dynamics. Market Movements: Tracking Brent …
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23 February 2024 11:50 am
Gold Prices Rally Amid Dollar Weakness and Geopolitical Tensions
Gold prices surged on Friday, poised to clinch their first weekly gain in three weeks. A confluence of factors, including a weakened dollar and escalating tensions in the Middle East, fueled investor appetite for the precious metal. Market Dynamics: Tracking the Numbers At 0411 GMT, gold prices in spot transactions …
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22 February 2024 10:15 pm
USD/CAD swings following US key data, Canadian retail sales
The USD/CAD exchange rate saw volatility on Thursday due to mixed US PMI data and Canada’s retail sales statistics. The pair moved towards the lower end of the range early on Thursday as investors prepared for the US Purchasing Managers Index (PMI) data of the day. The pair is trading …
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22 February 2024 9:31 pm
Nasdaq boosted following Nvidia’s earnings
As Nvidia’s stock surged to an all-time high, the S&P 500 approached a new high and global stock rallies gained momentum.The chip manufacturer, propelled by the surge in demand for AI systems, announced another quarter of record-breaking performance. During afternoon trade, Nvidia’s shares increased by 15%. As a result, the …
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22 February 2024 8:15 pm
US S&P Global Manufacturing PMI for February improves
The US S&P Global Composite PMI fell from 52 in January to 51.4 in February’s flash estimate, indicating that the private sector’s business activity in the US is still growing, but more slowly than it was in January.During the same time period, the S&P Global Manufacturing PMI increased to 51.5 …
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22 February 2024 7:41 pm
Fed’s Jefferson: Cautiously optimistic about inflation progress
Phillip Jefferson, the Fed Vice Chair of the Board of Governors, delivered a speech on Thursday in Washington, DC, at the Peterson Institute for International Economics.Key QuotesContinuing strength in spending is an upside risk to forecasts.Fed needs to remain vigilant, nimble.Fed shouldn’t be taken by surprise by any unexpected shocks.Fed’s …
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22 February 2024 5:34 pm
Oil Prices Edge Up Amid Dollar Decline and Yemen Ship Attack
Key Highlights: Oil prices edge up with Brent crude and WTI futures seeing modest gains.Weakened dollar and Yemen ship attack contribute to price increase.Brent crude reaches $83.38 per barrel, while WTI climbs to $78.28 per barrel.Attack on ship off Yemen’s coast adds geopolitical tension to market sentiment.Increase in US crude …
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