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Market Analysis

August, 2023

  • 9 August 2023 7:55 pm

    US stocks slide ahead of CPI data

    The tech-heavy Nasdaq and S&P 500 fell on Wednesday due to dovish comments by US Federal Reserve officials. Megacap growth and technology stocks, like Nvidia, Apple, and Tesla, shed between 0.6% and 2.5% in early trading. However, there has been some improvement in the Nasdaq, which coincides with profit taking …

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  • 9 August 2023 4:59 pm

    Oil prices are rising amid concerns about Chinese demand

    Oil prices rose on Wednesday as lower supply as a result of production cuts by Saudi Arabia and Russia offset concerns about slowing demand from China, the world’s largest crude importer, and a report showing an increase in US crude inventories. And state media reported that the Saudi cabinet confirmed …

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  • 9 August 2023 3:41 pm

    China is entering a period of price deflation

    China’s consumer sector entered a period of deflation and producer prices continued to decline in July as the world’s second-largest economy struggled to revive demand and pressure mounted on Beijing to take more direct stimulus measures. Concern is mounting that China is about to enter a period of sharp slowdown …

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  • 9 August 2023 3:40 pm

    European stocks rebound after Italy softened its position on the bank tax

    European stocks rose on Wednesday as Italian bank stocks recovered from heavy losses incurred in the previous session after the government softened its position on a new tax on banks. The Stoxx Europe 600 index rose 1 percent by 0705 GMT, touching its highest level in a week. The euro …

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  • 9 August 2023 1:08 pm

    Gold is rising from its lowest level in a month as dollar and bonds fall

    Gold prices rose on Wednesday from a one-month low hit in the previous session as the dollar and bond yields fell, a day before US consumer price data could provide clues about the path to raising interest rates. And by 0644 GMT, spot gold rose 0.3 percent to $ 1930.37 …

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  • 9 August 2023 12:13 pm

    Oil prices are falling due to Chinese data fueling concerns about demand

    Oil prices fell in early trading on Wednesday, as concerns about slowing demand from China, the largest crude importer, increased after negative trade data, outweighing concerns about shrinking global supply in light of production cuts from Saudi Arabia and Russia. Brent crude futures fell 17 cents, or 0.2 percent, to …

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  • 9 August 2023 4:25 am

    Market Drivers – US Session, August 08

    Financial markets are anxiously awaiting data on Chinese inflation during the Asian session, details on New Zealand’s electronic card retail sales, and expectations for the third quarter’s inflation rate from the Reserve Bank of New Zealand.Among the upcoming figures for Japan are machine tool orders for July. Due to lower …

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  • 9 August 2023 1:01 am

    GBP/USD falls on global economic growth woes

    Due to worries about both the Chinese economic recovery and the expansion of the global economy, the GBP/USD decreased by 0.36%, remaining below the 1.2800 mark. The US dollar (USD) has been a steadfast advocate for rate stability, despite Michelle Bowman of the Fed’s push for additional rate increases. Negative …

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  • 9 August 2023 12:17 am

    UK companies face challenges in Eurozone

    The Eurozone region presents a number of difficulties for the logistics industry, including supply chain disruptions, a talent gap, geopolitical unpredictability, complicated trade regulations, increased transportation costs, protracted lead times, and employee shortages. Brexit has been a significant impact, but other elements including the epidemic, a shortage of materials, and …

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  • 8 August 2023 11:55 pm

    How could stocks, bitcoin react to potential uptick of US inflation?

    The CPI report suggests an increase in US inflation, which could be a bullish sign for risk-on assets like commodities and cryptocurrencies. However, the current situation is different as inflation is making a comeback while the Fed is reducing liquidity in the system. This uncertainty affects the impact of inflation …

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  • 8 August 2023 10:56 pm

    Chinese demand-linked concerns dragging WTI’s price down

    WTI fell to a low below $80.00 and then jumped back above $82.00, clearing most of its daily losses. China reported weak Trade Balance data, with Exports and Imports coming in weaker than expected in July. The American crude oil is trading at $82.58 at the time of writing.A stronger …

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  • 8 August 2023 9:57 pm

    Fed’s Harker expects cutting rates sometime next year

    Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday that they will probably start lowering the policy rate sometime next year.The US Dollar Index retreated slightly from daily highs following the comments. As of writing, the index was still up 0.5% on the day at 102.54.Harker argued that they …

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  • 8 August 2023 8:58 pm

    Wall Street quacked by Moody’s downgrade of banking sector

    US stocks retreated Tuesday as an August sell-off was reignited by a downgrade of the banking sector by credit rating agency Moody’s. The Dow Jones Industrial Average was down 359 points, or 1%, led by a decline in Goldman Sachs. The S&P 500 dipped 1.1%, bringing its pullback from its …

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