On first 2024’s trading, the Swiss franc starts losing ground against the US dollar as the latter strengthened due to rising Treasury yields. This implies that bond traders might be indicating that they believe the inflation outlook will be more difficult than anticipated. Higher US Treasury rates, which have increased …
Read More »U.S. Unemployment Claims Rise to 218K for the Week Ending July 26
According to the latest U.S. Department of Labor (DOL) report released on Thursday, the number of ne…
U.S. Annual Inflation Rises to 2.6% in June, Exceeding Expectations
Annual inflation in the United States as measured by the Personal Consumption Expenditures (PCE) Pri…
Bitcoin Struggles to Gain Momentum as Fed Holds Rates and Trade Tariff Deadline Approaches
Bitcoin remained largely unchanged on Thursday, maintaining its rangebound movement after the Federa…
Shell Reports 32% Drop in Q2 Profit Amidst Lower Oil Prices and Chemicals Losses, But Beats Forecasts
Shell’s second-quarter net profit plunged by almost 32% on Thursday, impacted by a drop in oil price…
Microsoft Poised to Surpass $4 Trillion Market Valuation on Investor Confidence in Azure
Microsoft is set to make history on Thursday by surpassing a $4 trillion market valuation for the fi…
Gold Prices Rebound Amid Trade Tariff Jitters, Fed’s Stance Limits Gains
Gold prices rebounded from one-month lows in Asian trade on Thursday, as escalating trade tariff con…
WTI Climbs Toward $70.00 Amid US Threats of Sanctions on Russia
The price of West Texas Intermediate (WTI), the U.S. crude oil benchmark, rose to approximately $69.…
US Stocks Decline After FOMC’s Interest Rate Decision
U.S. stocks ended Wednesday’s trading session in the red following the Federal Reserve’s announcemen…
Dollar Continues to Rise After Fed Decision and Powell’s Statements
The U.S. dollar has been climbing since the announcement of the Federal Reserve’s decision to mainta…
Fed Chair Powell: No Decisions Made Regarding Rate Cut in September
Federal Reserve Chair Jerome Powell held a press conference following the July policy meeting, where…
Market Analysis
January, 2024
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2 January 2024 7:46 pm
Gold declines, still within bullish zone on rate cut bets
Gold prices are gaining momentum for 2024, with prospects of a Fed interest rate reduction starting in March. Factors boosting rate-cut hopes include a 2% decline in underlying inflation and easing labor market conditions due to restrictive monetary policy. However, the precious metal faces a marginal sell-off as the US …
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2 January 2024 4:00 pm
Dollar begins 2024 with a rise, and Bitcoin exceeds $45,000
On the first trading day of the new year, the dollar saw an increase in value as investors turned their attention to upcoming economic data that could provide insights into the Federal Reserve’s future moves. Bitcoin also experienced a rise, exceeding $45,000 for the first time since April 2022. In …
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2 January 2024 2:19 pm
European stocks begin the new year with the highest level in 23 months
On Tuesday, Europe’s benchmark stock index reached its highest level in nearly two years, driven by optimistic expectations among investors at the beginning of 2024 that major central banks are likely to adopt interest rate cuts. Energy sector stocks led the gains in the European STOXX 600 index, which rose …
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2 January 2024 1:26 pm
The Turkish lira falls to a new record level after falling 37% last year
The Turkish currency, the lira, reached a new record low on Tuesday, dropping to less than 29.7 liras to the dollar. This decline is part of a series of losses that gained momentum towards the end of 2023, with the lira concluding the year down by approximately 37 percent. At …
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2 January 2024 12:11 pm
Oil begins the new year with a 1% jump
Oil prices surged by 1 percent on Tuesday, initiating the new year on a positive note. The uptick was attributed to a naval clash in the Red Sea, drawing attention to potential supply disruptions in the Middle East. Additionally, expectations of economic stimulus in China bolstered demand prospects in the …
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2 January 2024 11:01 am
Bitcoin exceeds $45,000 for the first time since April 2022
Bitcoin demonstrated a notable surge on Tuesday, registering a three percent increase and surpassing the $45,000 barrier. This marks a significant milestone for the world’s largest and most renowned cryptocurrency, representing a robust commencement to the new year. Bitcoin reached a 21-month high at $45,386 earlier today, experiencing a two …
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December, 2023
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31 December 2023 11:48 pm
Financial Markets’ Weekly Recap, December 24-28
A few days ahead of the end of the 2023 trading year, the USD/JPY pair was back in the 141.00 level. Following the holidays, the US dollar had a thin week, ending the trading year on Friday with a 0.3% decline versus the Japanese yen.There was an annual loss of …
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29 December 2023 8:45 pm
Oil price expected to stay near $80 on slow demand
A poll conducted by Reuters, on Friday, indicated that international oil prices are expected to remain around $80 per barrel in 2024, with analysts predicting that weak global growth would limit demand and geopolitical concerns might trigger price support.Analysts questioned if supply reductions by the Organization of the Petroleum Exporting …
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29 December 2023 8:18 pm
Gold approaches $2070 amid improved market sentiment
Gold prices have shown strength as the US Dollar faces challenges due to improved market sentiment. Softer US data supports the Fed’s dovish stance in upcoming policy meetings, boosting investor risk appetite. Gold price was trading higher near $2,070 per ounce during the Asian session, recovering losses from the previous …
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29 December 2023 1:05 pm
Oil prices are set to end the year down 10 percent due to concerns about demand
As 2023 comes to a close, oil prices are poised to mark their first annual decline in two years, experiencing a roughly ten percent drop. Geopolitical concerns, production cuts, and global efforts to curb inflation have contributed to significant price fluctuations throughout the year. Current Oil Prices: Brent crude futures …
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29 December 2023 10:22 am
Bets for a rate cut in 2024 are pressuring USD to end the year on a losing note
As the year 2023 draws to a close, the US dollar faces the prospect of ending the year with a significant loss, erasing gains from two consecutive years. Market sentiment is shaped by expectations that the Federal Reserve may initiate interest rate cuts by March 2024, contributing to the dollar’s …
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29 December 2023 1:24 am
Gold holds around $2070 amid quiet trading session
Gold price remains steady at $2069.50 per ounce, despite a rebound in the US Dollar and higher US Treasury bond yields. On the data front; Initial Jobless Claims increased to 218,000, above the forecast of 210,000, and Continuing Claims reached 1.875 million, the highest in four weeks. The downside of …
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