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Market Analysis

November, 2023

  • 16 November 2023 5:55 pm

    Saudi crude oil exports rise in September

    Data from the Joint Organizations Data Initiative (JODI) showed on Thursday that Saudi crude oil exports in September rose three percent from the previous month to reach 5.75 million barrels per day. At the same time, the world’s largest oil exporters’ crude oil production increased by 0.7 percent to 8.98 …

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  • 16 November 2023 2:35 pm

    European stocks fell after rising in recent days

    The European benchmark index fell on Thursday after a three-month rise as optimism about the peak of monetary tightening and an eventual interest rate cut faded. The European STOXX 600 index fell 0.2 percent by 0810 GMT, after increasing 2.5 percent over the past three days and recording its highest …

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  • 16 November 2023 11:46 am

    Gold rose slightly amid expectations that the US Central Bank will stop raising interest rates

    Gold prices rose on Thursday, supported by expectations that the Federal Reserve has reached the end of its monetary tightening cycle, but a stronger dollar limited gains. Gold rose in spot transactions 0.1 percent to $1,961.81 per ounce by 0315 GMT, while US gold futures settled at $1,964.60. Matt Simpson, …

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  • 16 November 2023 1:39 am

    Yen falls under pressure from US bond yields

    The Japanese yen continues to retreat against the dollar since the beginning of daily trading on Wednesday, driven by the rise in US Treasury bond yields due to the famous correlation between both.The USD/JPY rose to 151.37, compared to the previous daily close of 150.37. The pair fell to its …

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  • 16 November 2023 1:30 am

    Does potential further downside await US Dollar?

    The US Dollar Index has recovered to 104.40, its lowest point since September. The US Producer Price Index (PPI) saw a less-than-expected 1.3% YoY increase in October, falling short of the projected 1.9% rise. The Core Producer Price Index (PPI) also fell short of expectations, coming in at 2.4% YoY …

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  • 16 November 2023 12:56 am

    WTI retreats on surging US oil inventories, global demand woes

    Due to record output levels and a greater-than-anticipated buildup in US crude inventories, WTI crude oil drops to $76.58 per barrel at the time of writing, down 1.92%.There are worries about possible drops in oil demand due to the Eurozone’s poor statistics and Japan’s economic contraction. Oil prices are supported …

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  • 15 November 2023 11:25 pm

    Can Fed avoid recession that threatens US economy?

    The likelihood of a recession is one big question that is being discussed again and again as observers, including former Fed officials still argue that there is still an obvious risk of a recession.Jerome Powell and Co. are seen as walking on a fine line. The extent of fiscal stimulus, …

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  • 15 November 2023 10:48 pm

    EUR/GBP closest to multi-month highs as bulls step in

    The EUR/GBP increased by 0.40% to reach 0.8740, erasing weekly losses. Bulls have space to test last week’s high of 0.8775. With the pair clearing its losses on Mondays and Tuesdays, the EUR/GBP trades with significant gains in the 0.8740 region. The following goal is 0.8775, which would be a …

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  • 15 November 2023 9:38 pm

    USD/CHF trimming losses after solid US Retail Sales

    The USD/CHF saw some minor losses before levelling off at 0.8885, suggesting that inflation was slowing down. October’s US Producer Price Index (PPI) increased 1.3% year over year, less than the 1.9% increase that was anticipated.However, October’s Retail Sales performed better than expected, with a 0.1% month-on-month decline. The US …

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  • 15 November 2023 8:21 pm

    Canadian dollar registers second day of gains

    The Canadian Dollar has extended into a second day of gains following Tuesday’s gains, with wholesale and business sales figures in Canada showing slight recovery. However, declines in Crude Oil prices are keeping CAD gains on a tight leash. Canadian Manufacturing Sales in September beat the street, printing at 0.4% …

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  • 15 November 2023 7:18 pm

    Gold’s recovery has stalled following US Retail Sales

    The reco0very of gild price has stalled following the release of the key Retail Sales Data and the Producer Price Index (PPI) data. US Retail Sales data for October contracted at a slower pace of 0.1% against estimates of a 0.3% decline. The US monthly headline PPI contracted by 0.5%, …

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  • 15 November 2023 5:33 pm

    Dollar falls as markets bet that the US Federal Reserve will finish raising interest rates

    The dollar fell to low levels on Wednesday, November 15, after falling overnight with the issuance of a surprisingly weaker inflation reading in the United States, which reinforced bets that the US Federal Reserve has reached the end of its monetary policy tightening cycle. At the same time, the offshore …

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  • 15 November 2023 2:16 pm

    The unemployment rate in France rose more than expected

    The unemployment rate in France rose faster than expected to 7.4% in the third quarter, according to official statistics published on Wednesday, a rise that Finance Minister Bruno Le Maire blamed on slowing economic growth. “This is a result of the economic slowdown in Europe and around the world,” Le …

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