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Market Analysis

August, 2023

  • 31 August 2023 11:06 pm

    US stocks surge post PCE data

    Core PCE

    Wall Street stocks tended to show mixed performance until after Thursday afternoon with fresh inflation data hinting at the easing in inflation that the Fed policymakers are looking for. The Dow Jones Industrial Average retreated 0.15%, or about 50 points, even as it was buoyed by a jump in Salesforce …

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  • 31 August 2023 9:20 pm

    How could NFP benefit Bitcoin price action?

    Following the Grayscale victory, the price of bitcoin has significantly declined. The price of the most well-known cryptocurrency is currently $27,300. With the release of the US Core PCE price index data on Thursday and the US NFP on Friday, cryptocurrency markets are anticipated to be volatile. It is anticipated …

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  • 31 August 2023 8:48 pm

    Swiss Franc rebounds post mixed US data, Swiss retail sales

    The US PCE inflation figures align with forecasts, and Swiss retail sales plunge -2.3% MoM. Mixed employment data in the United States sets the scene for a crucial Nonfarm Payrolls report, while a morning star chart pattern suggests a potential upside for USD/CHF. The US Dollar gains ground as PCE …

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  • 31 August 2023 7:53 pm

    USD/JPY retreats on mixed US data, BoJ split policy views

    Despite solid US data, the USD/JPY pair is currently down 0.35% at 145.70; DXY is up 0.51% to 103.718 but is unable to support USD/JPY. Retail sales in Japan increased by 6.8% YoY, exceeding expectations, but a disappointing 2.4% decline in industrial production adds to the BoJ’s policy dilemma.After hitting …

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  • 31 August 2023 3:59 pm

    Eurozone inflation was unexpectedly stable in August

    European Stocks

    Inflation stabilized in the eurozone this month, but price growth slowed as expected, painting a conflicting picture that complicates the scene for the European Central Bank, which is assessing the foundations for stopping raising interest rates in light of a noticeable slowdown in growth. Data from the European Union Statistics …

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  • 31 August 2023 3:06 pm

    The Turkish economy grew by 3.8% in the 2nd quarter

    The Turkish economy grew by a more-than-expected 3.8 percent in the second quarter, driven by strong household spending, data showed on Thursday, but activity is expected to slow until the end of the year as election-related stimulus fades and the impact of large interest rate increases takes effect. Data from …

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  • 31 August 2023 1:48 pm

    European stocks rise at the opening

    European stocks rose at the open on Thursday, and the financial sector received support from the shares of the Swiss bank UBS after the bank’s decision to acquire its local competitor, Credit Suisse, while investors awaited a set of important economic data to be issued later on Thursday. By 0710 …

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  • 31 August 2023 12:43 pm

    Japan’s Nikkei index rises supported by auto stocks

    Japan’s Nikkei index rose for the fourth consecutive session on Thursday as investors returned to buying distressed growth-related stocks, while Toyota Motor shares led the auto sector higher after announcing record monthly global sales. The Nikkei rose 0.88 percent to close at 32,619.34 points, and the broader Topix index rose …

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  • 31 August 2023 11:30 am

    Euro jumps on inflation and dollar under pressure ahead of jobs data

    The euro held at a 15-year high against the yen on Thursday thanks to signs of continued inflation in Europe, while the dollar came under pressure ahead of consumption, inflation and jobs data that may provide new evidence of slowing economic growth. Data on Wednesday showed that the annual inflation …

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  • 31 August 2023 10:53 am

    Gold is near a one-month high ahead of US inflation data

    Gold prices rose to near one-month highs on Thursday as a new batch of weak US data reinforced expectations for a pause in interest rate hikes this year, although inflation readings released later on Thursday may revise those expectations. By 0331 GMT, spot gold rose 0.2 percent to $1,945.40 per …

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  • 31 August 2023 2:16 am

    Market Drivers – US Session, August 30

    Gold rose for the third consecutive day, encountering resistance below $1,950. Lower yields and a weaker Dollar provided support for the precious metal. Silver reversed after reaching $25.00 and closed marginally lower at $24.60.The US Dollar Index fell for the third consecutive day, reaching the lowest close in two weeks, …

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  • 31 August 2023 2:04 am

    Gold gains amid weaker US data

    With a three-day winning streak near $1,942 and almost 1.50% daily gains. The US reported weaker labour market figures, with ADP Employment Change increasing by 177,000 employed people, lower than expected.Jerome Powell emphasized restrictive monetary policy until cooling trends show a cooling trend. The US bond yields decreased to 4.88%, …

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  • 31 August 2023 1:51 am

    How will US dollar react to PCE, NFP data?

    Core PCE

    A significant data week is coming up with the release of the most recent PCE inflation estimates on Thursday and the August NFP report on Friday, which will signal the end of the summer. At 12:30 GMT, both reports will be made public. Following Fed Chair Jerome Powell’s speech on …

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