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Market Analysis

December, 2023

  • 12 December 2023 3:44 pm

    European stocks rise ahead of US inflation data

    European stocks rose on Tuesday as investors took comfort from weaker-than-expected UK wage growth data and amid anticipation for a key US inflation report to be published later on Tuesday. The European STOXX 600 index increased 0.1 percent by 0814 GMT and is on track to record gains for the …

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  • 12 December 2023 1:46 pm

    The Nikkei index trims its gains as interest rate hike expectations in Japan fade

    Japan

    Japan’s Nikkei index posted modest gains on Tuesday as expectations faded for an imminent move by the Bank of Japan at its policy meeting scheduled for next week. The Nikkei ended trading on Tuesday, up 0.16 percent at 32,843.70 points, recording gains for the second day in a row. The …

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  • 12 December 2023 1:10 pm

    Dollar declines amid anticipation of US inflation data

    The dollar fell while the yen stabilized in trading on Tuesday in Asia at a time when traders awaited inflation data in the United States and an expected series of central bank meetings. Dollar index contracts fell 0.5 percent to 145.46 yen. The two currencies have been witnessing fluctuations for …

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  • 12 December 2023 12:07 pm

    Oil rises ahead of decisions on interest rates, and fears of oversupply continue

    Oil prices rose on Tuesday as investors remained cautious ahead of important decisions on interest rates and the release of inflation data, but concerns about oversupply and slowing demand growth undermined the gains. By 0342 GMT, Brent crude futures for February delivery rose 26 cents, or 0.3 percent, to $76.29 …

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  • 12 December 2023 3:04 am

    Market Drivers – US Session, Dec. 11

    USD/JPY climbed above 146.00 for the second day in a row, extending the recovery from below 142.00. The Japanese yen was among the worst performers, as investors reduced the likelihood of a Bank of Japan policy change in the near term. Japan will publish the November Producer Price Index as …

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  • 12 December 2023 2:54 am

    Bitcoin nosedives, faces sharp sell-off

    Bitcoin’s price fell sharply, nosediving by 5.67% to $41296. However, technical indicators and on-chain data indicate that Bitcoin remains strong as bulls attempt to push it back above $44,000. According to on-chain data, Bitcoin has reached its Crosby Ratio golden ratio multiplier near-term target. Above $40,000, the price has reached …

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  • 12 December 2023 2:36 am

    BoE Expected To Keep Interest Rate Policy Unchanged

    On Thursday, the Bank of England is expected to keep interest rates unchanged and to maintain its higher-for-longer stance. UK economists believe the Bank of England will use this week’s interest rate decision to warn that borrowing costs will need to remain high well into 2024, dampening growing bets on …

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  • 12 December 2023 12:36 am

    Gold prices plunge again ahead of key data, FOMC meeting

    Gold markets have been experiencing a decline since the start of Monday’s North American session due to increased risk appetite and anticipation of interest decisions from the Fed and the ECB. Gold futures fell -1.15%, below $1981, trading at $1980.85 per ounce at the time of writing.Earlier on the day, …

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  • 12 December 2023 12:01 am

    EUR/USD is surging ahead FOMC, ECB policy meetings

    The EUR/USD pair is trading near 1.0764 versus earlier low of 1.0742 during the few previous hours as markets prepare for a busy trading week, whether on the data front or on the central banks’ decision-front, that includes US Consumer Price Index data, Producer Price Index data, and the FOMC …

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  • 11 December 2023 10:59 pm

    Is Powell Under Pressure To Set US Interest Rate Cut Plan?

    Fed Chair Jerome Powell faces a challenge in keeping the US central bank’s policy plans flexible, as investors believe the cooling economy means tightening is over. The FOMC prepares for its final two-day meeting of 2023, and Powell is expected to use his press conference on Wednesday to emphasise that …

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  • 11 December 2023 10:01 pm

    EUR/GBP pinned into midrange ahead of ECB, BoE policy meetings

    The EUR/GBP pair is currently trading near 0.8560, with the pair testing the low end but still trapped within near-term consolidation.The midweek sees a doubleheader from the BoE and the ECB, with markets focusing on press statements and investors weighing degrees of hawkishness. The pair is down a tenth of …

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  • 11 December 2023 9:27 pm

    Swiss Franc edges lower amid positive market sentiment

    The Swiss Franc is experiencing a weakening trend in most pairs due to stronger US data, which has buoyed market sentiment. The Federal Reserve, European Central Bank, and Bank of England are all scheduled to make announcements after their meetings this week. The improved outlook for the US on Friday’s …

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  • 11 December 2023 8:37 pm

    Natural Gas Prices Dropped 10% On Dismal COP28 Agreement

    During the US trading session, natural gas prices dropped 10%, taking over from the European session. The US Dollar is steady ahead of US CPI and the last Fed’s policy meeting for 2023. A COP28 draft agreement is set to be presented, with fossil fuels set to be reduced instead …

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