Oil futures reversed course after briefly rising on Monday amid continued pressure from the OPEC+ decision and uncertainty over global fuel demand growth, but risks of supply disruptions due to conflict in the Middle East limited losses. By 0406 GMT, Brent crude futures fell 49 cents, equivalent to 0.4 percent, …
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
-
4 December 2023 1:10 am
Financial Markets’ Weekly Recap, Nov. 27 – Dec. 1
Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …
Read More » -
2 December 2023 1:55 am
Gold surges to a seven-month high, amid Powell’s comments
Reacting to Fed Chair Jerome Powell’s speech, the price of gold immediately surged to a new multi-month high of $2060.62. The precious metal even extended its gains later on the day and is trading at 2071.15 per ounce at the time of writing, gaining $35.05, and thereby up by 1.72%. …
Read More » -
1 December 2023 10:57 pm
Wall Street finds footing as Powell dampens rate cut bets
After their November surge, stocks begin December strongly. After a record-breaking month, US stocks increased on Friday as investors processed comments made by Federal Reserve Chair Jerome Powell, who cautioned against drawing the premature conclusion that rate hikes by the Fed are done or speculating about when cuts might take …
Read More » -
1 December 2023 10:03 pm
GBP/USD rallies amid Fed’s easing bets, softer dollar
After hitting a daily low of 1.2609, the GBP/USD pair increased by more than 90 pip, or 0.70%, in the latter part of Friday’s North American session. The Greenback suffered as a result of more than 100 basis points of rate cuts by the Fed the following year due to …
Read More » -
1 December 2023 9:05 pm
USD/JPY dips on weak US PMI, Powell speech
USD/JPY experiences a 0.52% decline in the North American session. A lower-than-expected ISM manufacturing reading for November weighed on the US Dollar.Fed Chair Jerome Powell acknowledges some easing in inflation but emphasizes that core inflation remains high and monetary policy decisions will be data dependent.The USD/JPY trims some of its …
Read More » -
1 December 2023 8:17 pm
EUR/USD’s return below 1.0915 could herald a deeper pullback
The EUR/USD pair declined below the 1.09 mark. Economists at Société Générale analyze the pair’s outlook. At the time of writing, the pair is trading at 1.08548, down −0.00303 by almost −0.28%The pace of EUR/USD appreciation should be gradual. The 10Y Bund dropped to 2.395%, extending the correction to 60 …
Read More » -
1 December 2023 7:32 pm
US: ISM Manufacturing PMI for November unchanged
ISM Manufacturing PMI remained at 46.7 in November. US Dollar Index trimmed daily gains and fell to 103.50. The economic activity in the US manufacturing contracted in November, for the 12th consecutive month, with the ISM Manufacturing PMI at 46.7, unchanged from October. This reading came in worse than the …
Read More » -
1 December 2023 4:36 pm
The British Prime Minister intends to support efforts to combat climate change with two billion dollars
British Prime Minister Rishi Sunak is set to announce a funding commitment of £1.6 billion (approximately $2 billion) during the United Nations Climate Change Conference (COP28) summit on Friday. The announcement aims to underscore the UK’s commitment to climate change mitigation efforts after easing some measures to achieve emission reduction …
Read More » -
1 December 2023 3:42 pm
European stocks rise ahead of the release of economic data
European stocks rose as investors were optimistic about growing expectations of interest rate cuts as inflation declines, while awaiting the release of more economic data and comments from Federal Reserve Chairman Jerome Powell on Friday. The STOXX 600 index rose 0.5 percent by 0810 GMT amid a broad rally following …
Read More » -
1 December 2023 12:21 pm
Nikkei records its first weekly decline in 5 weeks, under pressure from technology stocks
Japan’s Nikkei index fell at the close on Friday, also recording its first weekly decline in five weeks, with technology companies’ shares falling due to a rise in bond yields following economic data that provided additional evidence that the US central bank may end raising interest rates. The Nikkei ended …
Read More » -
1 December 2023 11:50 am
Oil prices continue to decline after lower-than-expected cuts in OPEC+ production
Oil prices fell in early Asian trading on Friday, continuing the losses that began after producers in the OPEC+ alliance agreed to voluntary reductions in oil production in the first quarter of next year, which were reductions that fell below market expectations. Brent crude futures for February fell 14 cents, …
Read More » -
1 December 2023 11:21 am
Gold is heading for gains for the third week
Gold prices are heading for a third straight week of gains on Friday after data showing a slowdown in inflation reinforced bets on a cut in interest rates in the United States, while traders await comments from Federal Reserve Chairman Jerome Powell later on Friday. Gold rose in spot transactions …
Read More »