Due to its $3.3 billion debt and probable lawsuits regarding opioid prescriptions, American iconic retail chain Rite Aid is getting ready to apply for Chapter 11 bankruptcy protection. The firm has had difficulties throughout its history, with rivals including Bed Bath & Beyond, Tuesday Morning, and Christmas Tree Shops faltering …
Read More »Oil Prices Climb on Middle East Tensions and China’s Stimulus Plans
Oil prices surged over 1% on Tuesday, reaching their highest levels since early March, as geopolitic…
European Markets Inch Higher Ahead of German Debt Vote and Trump-Putin Talks
European stock markets edged higher on Tuesday as investors focused on a pivotal vote in the German …
Bitcoin Drops as Traders Await Federal Reserve Decision
Bitcoin fell on Tuesday, extending its cautious performance from the previous session, as investors …
Market Drivers – US Session: Dollar Wobbles as Economic Fears and Fed Caution Grip Markets
The US dollar is showing signs of vulnerability, lingering near the lower end of its recent trading …
Geopolitical Tensions and Economic Optimism Stir Oil Market
Oil prices experienced a modest increase on Monday, fueled by a confluence of geopolitical tensions …
Economic Uncertainty Grips Markets as Fed Faces a Tightrope Walk
A palpable unease has settled over investors, fueled by anxieties surrounding President Trump’…
Dow Roars Back: 600-Point Surge Amid Economic Uncertainty
Equities rebound from recent plunge, but trade tensions and soft retail data cast a long shadow.The …
Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Gold Prices Still Soaring Above $ 3,000 Barrier
Gold prices have continued their upward trajectory since the start of trading on Monday, following t…
Consumer Caution: Retail Sales Underwhelm Amid Economic Uncertainty
A note of caution has sounded within the US economy as retail sales for February fell short of expec…
Market Analysis
August, 2023
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29 August 2023 10:49 pm
US stocks climb on August dip activity
In the final days of a typically challenging August for the stock market, investors flocked back to tech stocks, driving the Nasdaq Composite Index up by more than 1% on Tuesday. The Dow Jones Industrial Average gained 258 points or 0.7% and the S&P 500 increased by 1.4%.The tech-focused Nasdaq …
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29 August 2023 9:47 pm
Sterling strongly recovers as investors hope for next BoE’s hike
The pound Sterling has recovered as investors await the BoE’s 25 basis point interest rate hike to neutralize the Federal Reserve-BoE divergence. However, the GBP/USD pair’s revival faded as further policy tightening by the BoE will dampen the economic outlook. The UK’s restrictive monetary policy has widened its scope to …
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29 August 2023 8:52 pm
Gold celebrates softer US economic data
Gold and silver prices rose during Tuesday’s lunchtime US trading session, with gold reaching a three-week high and silver reaching a four-week high. Fresh purchasing activity in the precious metals was sparked by reports on the consumer confidence index and the US jobs turnover data (JOLTS), both of which were …
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29 August 2023 7:46 pm
BNB coin jumps by over 5% in 24 hours
The price of BNB/USD increased by 5.91% to $231.33 over the previous day. This maintains the upward path it has been on for the previous week, rising 13.0% from $205.67 to the present price. The current value of the coin is $686.31, which is its all-time high.The coin’s trading volume …
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29 August 2023 4:13 pm
Sterling edges higher as traders await steer from Bank of England
The pound ticked higher against the dollar and euro on Tuesday as traders await comments by Bank of England Chief Economist Huw Pill later this week for more direction on the central bank’s next move. Sterling was up 0.10% at $1.2614 at 1000 GMT. It was 0.13% higher against the …
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29 August 2023 3:03 pm
Flight chaos to last for days after air traffic control fault
Britain’s Transport Secretary Mark Harper said it would take days to solve widespread flight disruption to and from the country after air traffic control systems suffered a technical problem. Authorities canceled more than 1,500 flights on Monday, one of the busiest days of the week in the country, after air …
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29 August 2023 1:25 pm
Dollar is stable ahead of a busy week of data and yen is under pressure
The dollar fell on Tuesday, after a strong rally, amid dealers’ reluctance to make big bets ahead of a series of expected economic data this week, while the Japanese yen fell to close to the levels that led the authorities to intervene to support it last year. The dollar fell …
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29 August 2023 12:27 pm
Gold rose on retreating US dollar, T-yields before key data
Gold prices rose on Tuesday as a recent decline in the dollar and Treasury yields showed signs that the economy was overheating, ahead of crucial inflation and jobs data this week that could determine the future of interest rates. And by 0645 GMT, spot gold rose 0.2 percent to $ …
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29 August 2023 11:15 am
Oil is falling amid concerns about demand
Oil prices fell on Tuesday amid fears that further potential interest rate hikes in the US would lower demand, outweighing concerns that a tropical storm off the US Gulf Coast could affect supplies. And by 0640 GMT, Brent crude fell 19 cents, or 0.2 percent, to $ 84.23 a barrel, …
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29 August 2023 1:25 am
Shadow lending threatens China’s financial system
As the first Chinese trust to fall in more than 20 years, Chinese lender Xinhua Trust is selling shares at outrageously cheap prices after declaring bankruptcy in May. Since then, the corporation has listed some of its assets on Taobao for sale at a 30% discount, and only recently added …
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29 August 2023 1:00 am
Market Drivers – US Session, August 28
The USD is trading weakly against the majority of its competitors on Monday due in large part to a small consolidation and a risk-positive market environment. On the other side, while markets continue to assess Jerome Powell’s speech on Friday, the hawkish rhetoric of the European Central Bank is gaining …
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29 August 2023 12:04 am
EUR/USD rises on consolidating US dollar
Near 1.0810, the EUR/USD pair soared. After Jerome Powell’s speech, the US dollar and US yields consolidated, with the USD trading weakly against most competitors as a result of a minor consolidation and a risk-positive market environment. As markets digested Powell’s speech, the hawkish tone of the European Central Bank …
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