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Market Analysis

April, 2024

  • 11 April 2024 6:23 am

    Japan’s Suzuki supports any steps to respond to excessive currency moves

    On Thursday, Japanese Finance Minister Shunichi Suzuki made a verbal intervention. Suzuki stated that he will not rule out taking any measures in response to unwarranted movements in foreign exchange. He went on to say that he and Vice Finance Minister Kanda are always talking about foreign exchange. As of …

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  • 10 April 2024 11:49 pm

    FOMC members are concerned about high inflation persistence

    FOMC minutes

    FOMC minutes revealed that its members expressed concerns that inflation may continue rising, though they are still expecting rate cut at some point this years. The minutes said “inflation was not fast enough on its way down” despite some recent decline. But the participants were keen on keeping the language …

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  • 10 April 2024 10:06 pm

    FOMC Minutes: Evidence required that inflation is cooling toward target

    According to latest FOMC meeting minutes, the US Federal Reserve wants greater assurance that inflation is heading towards its target of 2%. At their meeting in March, Federal Reserve officials voiced concern that inflation was not decreasing rapidly enough, but they still anticipated lowering interest rates later in the year. …

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  • 10 April 2024 6:26 pm

    Gold retreats after US inflation data

    Gold prices retreated on Wednesday from their record high levels amid a resurgence in the dollar and US Treasury bond yields following the release of data indicating higher-than-expected inflation in the United States. This dampened expectations of an imminent cut in US interest rates. Spot gold prices declined by 0.6 …

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  • 10 April 2024 6:20 pm

    Bank of Canada keeps rates unchanged

    Bank of Canada

    Bank of Canada left its interest rate unchanged in April meeting, reiterating that it’s premature to discuss turning to QE anytime soon. The central bank left policy rates at 5.00% for the sixth time in a row, in line with market expectations. The BoC statement also referred to increasing growth …

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  • 10 April 2024 5:18 pm

    US CPI inflation rises in March above expectations

    According to the US Bureau of Labour Statistics (BLS) report released on Wednesday, the annual rate of inflation in the US increased to 3.5% in March from 3.2% in February, as shown by changes in the Consumer Price Index. This result above the 3.4% market expectation. The US Dollar gathered …

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  • 10 April 2024 10:44 am

    Oil prices stabilize amid Middle East tensions and rising US inventories

    Amidst mounting tensions in the Middle East and an unexpected surge in US crude oil inventories, oil prices held steady in early trading on Wednesday. Brent crude futures settled at $89.42 per barrel, while US West Texas Intermediate crude futures saw a marginal increase of two cents to $85.25. The …

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  • 10 April 2024 6:19 am

    RBNZ keeps interest rate unchanged as expected

    The board members of the Reserve Bank of New Zealand (RBNZ) opted to keep the Official Cash Rate (OCR) at 5.50% on Wednesday after the end of the April policy meeting. The choice was consistent with what the market anticipated. The New Zealand Dollar catches a fresh momentum in an …

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  • 10 April 2024 5:12 am

    March CPI reading will be key for rate cut forecast

    Following two strong reports in January and February, it is expected that the consumer price index report for March will demonstrate a sustained slowdown in inflation. The core CPI is expected to increase by 3.4% year over year, according to consensus estimates. This would be somewhat less than the 3.8% …

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  • 10 April 2024 3:52 am

    RBNZ expected to keep rate unchanged

    After its monetary policy meeting on Wednesday, the Reserve Bank of New Zealand is anticipated to keep the Official Cash Rate (OCR) at 5.50% for the sixth consecutive meeting. Notwithstanding the fact that Governor Adrian Orr’s news conference was not held and that revised economic estimates were released, the New …

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  • 10 April 2024 12:52 am

    Bank of Japan intends to maintain the current monetary easing

    BoJ

    BoJ Governor Kazuo Ueda stated in his semi-annual report on currency and monetary supervision issued on Wednesday that, given the current conditions of economic activity and prices, he expects the current accommodative conditions to be maintained.In his estimation, Ueda believes that the 2 percent price stability target will be achieved …

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  • 9 April 2024 3:09 am

    Market Driers; US Session, April 8

    The US dollar was under pressure throughout the week’s bearish start, but the risk complex was able to gather itself and US rates moved marginally higher across the curve. Ahead of the crucial US CPI, FOMC Minutes, and ECB event, traders continued to evaluate the most recent payroll prints. Amidst …

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  • 9 April 2024 2:26 am

    Fuel Prices Trigger US Consumers’ Concerns

    FuelBuddy released its most recent statistics on Monday, which show that fuel costs are skyrocketing in most states and towns. In Louisville, for example, the average cost of a gallon of petrol increased by 27.5 cents over the previous week to $3.51, based on a survey covering 644 petrol stations. …

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