Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …
Read More »Bitcoin’s Rollercoaster: ETF Exodus and Market Uncertainty
The cryptocurrency market is currently experiencing a period of intense volatility, with Bitcoin at …
Tariff Tango Continues: Eurozone Trade Sees Slight Surplus Boost Amidst Uncertainty
The Eurozone’s trade landscape presented a mixed picture in January, with a slight widening of…
Canada’s Inflation Rises to 2.6% in February, Exceeding Expectations
Canada’s annual inflation rate unexpectedly rose to 2.6% in February, surpassing forecasts, as the e…
Oil Prices Climb on Middle East Tensions and China’s Stimulus Plans
Oil prices surged over 1% on Tuesday, reaching their highest levels since early March, as geopolitic…
European Markets Inch Higher Ahead of German Debt Vote and Trump-Putin Talks
European stock markets edged higher on Tuesday as investors focused on a pivotal vote in the German …
Bitcoin Drops as Traders Await Federal Reserve Decision
Bitcoin fell on Tuesday, extending its cautious performance from the previous session, as investors …
Market Drivers – US Session: Dollar Wobbles as Economic Fears and Fed Caution Grip Markets
The US dollar is showing signs of vulnerability, lingering near the lower end of its recent trading …
Geopolitical Tensions and Economic Optimism Stir Oil Market
Oil prices experienced a modest increase on Monday, fueled by a confluence of geopolitical tensions …
Economic Uncertainty Grips Markets as Fed Faces a Tightrope Walk
A palpable unease has settled over investors, fueled by anxieties surrounding President Trump’…
Dow Roars Back: 600-Point Surge Amid Economic Uncertainty
Equities rebound from recent plunge, but trade tensions and soft retail data cast a long shadow.The …
Market Analysis
August, 2023
-
4 August 2023 8:39 pm
AUD extends recovery after NFP data
The Australian dollar has reacted strongly against the US Dollar (USD) on Friday, following Nonfarm Payrolls (NFP) data showing the US added 187K new jobs in July, undershooting estimates of 200K. This data suggests a slowdown in the labor market, which could undermine high inflation and lead to lower interest …
Read More » -
4 August 2023 7:42 pm
US dollar pressured post NFP data
The US dollar experienced renewed selling pressure after the July jobs report, which showed a 187,000 increase in nonfarm payrolls. The US Bureau of Labour Statistics reported that Nonfarm Payrolls in the US rose 187,000 in July, weaker than the market expectation of 200,000. The US Dollar Index recorded 101.807 …
Read More » -
4 August 2023 4:42 pm
US Nonfarm Payrolls increase 187,000 in July vs. 200,000 expected
The US Bureau of Labour Statistics reported on Friday that nonfarm payrolls (NFP) increased by 187,000 in July. This estimate fell short of the market’s anticipation of 200,000. The June increase of 209,000 was reduced down to 185,000. Follow our live coverage of the market reaction to the July jobs …
Read More » -
4 August 2023 4:41 pm
Reuters: OPEC + kept the oil production policy unchanged
Two OPEC+ sources said the meeting of the group’s senior ministers’ committee kept oil production policy unchanged on Friday. The committee, called the Joint Ministerial Monitoring Committee, includes ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, within the framework of what is known as …
Read More » -
4 August 2023 3:25 pm
Apple shares dip on weaker iPhone sales
iPhone sales that fell short of expectations were partially offset by the company’s performance in the services sector. However, Apple shares were down close to 2% in Friday premarket trading. Apple exceeded predictions by reporting earnings per share (EPS) of $1.26 on revenue of $81.80B, compared to $1.19 and $81.73B, …
Read More » -
4 August 2023 1:10 pm
Oil is heading for gains for the sixth week, amid pledges to cut production
Oil prices rose for the second day in a row on Friday and are set to achieve a weekly gain for the sixth time in a row, after Saudi Arabia and Russia pledged to cut production until the end of next month. Brent oil futures for October delivery rose 30 …
Read More » -
4 August 2023 12:02 pm
European stocks stabilize after a 3-day sell-off
European stocks were flat on Friday after a three-day sell-off, as recent fears of slowing global economic growth were outweighed by strong expectations from retail giant Amazon and a number of other companies. The pan-European Stoxx 600 index rose 0.1% by 0723 GMT, but was still on track to post …
Read More » -
4 August 2023 10:47 am
Gold is heading for a weekly loss due to the rise in US bond yields
Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months. Spot gold rose 0.1 percent to …
Read More » -
4 August 2023 10:46 am
Dollar suffers ahead of the jobs data and the Australian dollar is recovering
The dollar fell from a four-week high against its major counterparts on Friday, as investors awaited the jobs report, which could influence the course of US interest rate movements. The pound sterling recorded a slight increase after it compensated for the losses it suffered in the wake of the Bank …
Read More » -
4 August 2023 2:31 am
Market Drivers – US Session, August 3
In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …
Read More » -
4 August 2023 1:48 am
USD/CAD peaks, then stabilizes after US economic data
The USD/CAD pair peaked at 1.3377’s daily high, then consolidated at 1.3355. Further oil production cuts by Saudi prospects lifted crude prices, favouring the Canadian dollar.On Thursday’s session, the USD/CAD reversed as the US counterpart lost traction following weak mid-tier economic data. The pair rose to nearly 1.3380 and then …
Read More » -
4 August 2023 1:06 am
Amazon stock climbs 7% on robust earnings
Amazon reported its second quarter earnings, lifting the company’s stock up by 7%, despite concerns about its cloud business’s future. Cost cutting in addition to surging online sales contributed remarkedly in the robust Q2 earnings.The company reported a small but vital beat for revenue in its cloud business, Amazon Web …
Read More »