Japan’s Nikkei index experienced a decline on Thursday, influenced by a significant sell-off on Wall Street and a notable drop in Toyota’s shares due to a growing safety concern within its Daihatsu Motor unit. The Nikkei closed at 33,140.47 points, reflecting a decrease of 1.59 percent. Among the 225 listed …
Read More »EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Oil Prices Decline Amid Nuclear Talks and OPEC+ Output Expectations
Oil futures fell on Friday as market participants reacted to ongoing geopolitical developments and e…
Market Analysis
December, 2023
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21 December 2023 11:44 am
Oil is heading to end its winning streak as US inventories rise
Oil prices experienced a decline on Thursday, potentially halting a three-day winning streak. Concerns about reduced demand emerged following an unexpected surge in US crude inventories, overshadowing worries about global trade disruptions due to tensions in the Middle East. As of 0303 GMT, Brent crude futures saw a decrease of …
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21 December 2023 1:26 am
Market Drivers – US Session, December 20
The US Dollar rose on Wednesday, supported by US economic data and a slight deterioration in market sentiment as well as hawkish remarks by Fed’s Patrick Harker on the rate policy outlook.Holiday-linked rally was paused, with Wall Street’s main indexes about to end a five-day positive streak on profit taking. …
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21 December 2023 1:19 am
Hawkish remarks by Fed’s Harker benefit the US dollar
The USD was not greatly affected by the Wednesday’s US home data, but the DXY Index recorded gains of 0.35% per day after Fed’s Harker commented that the bank won’t cut rates right away.Philadelphia Federal Reserve President Patrick Harker has expressed his opposition to further US central bank interest rate …
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21 December 2023 1:04 am
G7 Tightens Oil Price Cap Enforcement, Sanctioning Russian Oil
The US and Western allies have imposed sanctions on oil shippers and traders who have been helping Russia bypass price restrictions. Since a price cap on Russian oil was set last year, Moscow has developed a shadow fleet of tankers and found alternative insurance and financing options, enabling it to …
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21 December 2023 12:22 am
US stocks retreat on profit taking
Stocks experienced a decline on Wednesday due to investors cashing in profits following the market’s recent hot streak. FedEx, the largest laggard in the S&P 500, lost over 10% due to disappointing revenue outlooks and disappointing second-quarter results. The , a price-weighted index of 20 stocks, also fell by 0.9%. …
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20 December 2023 11:55 pm
Final PCE reading in 2023 could weigh on rate policy outlook
The PCE inflation data, in the United States, on Friday is expected to be the final key piece of data for the year, and an upside surprise is required to give the Fed’s push-back attempts more credibility. If an upside surprise does not materialize, it will be difficult for the …
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20 December 2023 10:49 pm
Treasury yields hits lowest since July
The 10-year US Treasury yield hit its lowest level since July as traders assessed the Federal Reserve’s future rate cuts. The yield on the benchmark 10-year Treasury note was last down around 2 basis points to 3.901%, its lowest level since July 27 when the 10-year yield was as low …
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20 December 2023 10:07 pm
Biden Urged To Block Foreign Acquisition Of Iconic Company
In a letter to Treasury Secretary Janet Yellen, three senators urged the Biden administration to thwart the recent agreement between the US Steel Corporation and Nippon Steel Corporation (NSC) of Japan. NCS declared that it will buy US Steel for $55 per share and take on the $14.9 billion in …
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20 December 2023 9:15 pm
Gold expected to hold above $2000 in 2024
Gold is trading around $2035 per ounce at the time of writing. It is worth mentioning that the precious metal’s price previously surged more than 20% to a record high of $2135 in 2023. Economists and experts predict that gold’s upside will soon reach a ceiling. It is generally predicted …
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20 December 2023 7:57 pm
US CB Consumer Confidence Index Beats Expectations
The US CB Consumer Confidence Index rose to 110.7 in December, indicating a significant improvement in consumer sentiment. The report also revealed that the Present Situation Index rose to 148.5, and the Consumer Expectations Index advanced to 85.6. The one-year consumer inflation rate expectation edged lower to 5.6%. The US …
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20 December 2023 7:17 pm
US Existing Home Sales Unexpectedly Rise 0.8% In November
US existing home sales unexpectedly rose in November, to seasonally adjusted annual rate of 3.82 million units, ending five consecutive monthly decreases, according to the National Association of Realtors. Further gains could be limited by a chronic shortage of houses on the market. Home resales, accounting for a large portion …
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20 December 2023 4:54 pm
UK CPI inflation softens to 3.9% in November
According to the latest data released by the Office for National Statistics (ONS), the United Kingdom’s Consumer Price Index (CPI) recorded a 3.9% year-on-year increase in November. This figure represents a slight deceleration from the 4.6% rise observed in October, and it falls below market expectations of a 4.4% acceleration. …
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