For the past three months, China’s Purchasing Managers’ Index has been below 50, a sign that the second-largest economy in the world is getting more and more pessimistic. The sub-index for the important construction industry dropped significantly from a high of 65.6 in March to 51.2 in July. Beijing’s most …
Read More »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 …
Dollar Drifts as Geopolitical and Policy Storm Clouds Gather
A week of potentially historic significance opens with the US Dollar easing, as markets brace for a …
Market Analysis
August, 2023
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1 August 2023 9:43 pm
USD/JPY jumps above 143.00 after US data
The USD/JPY pair advances for a third day in a row, gaining 0.70% and moving up towards the 143.53 region, as at the time of writing. Although it accelerated in July, the ISM Manufacturing PMI fell short of expectations. Additionally, JOLTs statistics fall short of predictions.Prior to important labour market …
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1 August 2023 8:17 pm
AUD declines post RBA’s surprise decision
The Australian dollar experienced a significant decline on Tuesday due to the Reserve Bank of Australia’s decision to keep its key interest rate unchanged at 4.10% at its August meeting. This decision was surprising as higher interest rates tend to strengthen a currency by attracting more foreign capital. The release …
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1 August 2023 7:03 pm
US stocks rally loses momentum on weaker earnings
The S&P 500’s 16-month high has lost momentum due to disappointing earnings from several companies. Traders also waded through mixed data on job openings, with JetBlue Airways retreating after slashing its full-year profit forecast and saying it would earn less than analysts expected this quarter. Cruise operators fell as Norwegian …
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1 August 2023 5:03 pm
Toyota’s operating profit increased by 94% in the first quarter of its fiscal year
Japanese automaker Toyota said it nearly doubled its operating profit in the first quarter of its fiscal year, helped by higher sales and production as well as a weaker yen. The company said in a statement announcing its results: “Sales increased in all regions around the world compared to the …
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1 August 2023 5:00 pm
British BP profits fell by 70% in the second quarter of 2023 of declining supplies
British oil company BP’s profits fell by nearly 70% year-on-year in the second quarter of 2023 on the back of weak fossil fuel prices. The British energy major posted an underlying replacement cost profit in the second quarter, which is used as a proxy for net profit, of $2.6 billion. …
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1 August 2023 4:58 pm
Unemployment rate in the eurozone is different from expectations and settles at 6.4%.
The unemployment rate in the euro area stabilized at 6.4%, contrary to expectations that it would rise to 6.5% in June, compared to 6.7% in the same period of 2022. The number of unemployed fell by 62,000 from the previous month to 10.814 million. Meanwhile, the youth unemployment rate, which …
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1 August 2023 1:23 pm
World Gold Council: Demand for gold declined in the second quarter of 2023
The World Gold Council said that global demand for the precious metal, excluding stock exchange trading, fell 2% on an annual basis to 920.7 tons in the second quarter of 2023, with slowing central bank purchases and continued weak consumption of the technology sector. However, he added in his quarterly …
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1 August 2023 12:44 pm
European stocks fell as factory activity declined in Asia
European stocks fell at the open on Tuesday as weak factory activity data in Asia and some disappointing corporate earnings halted a rally that pushed several regional indices to multi-year highs. The pan-European Stoxx 600 index was down 0.1 percent by 0714 GMT, with the mining and real estate sectors …
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1 August 2023 10:44 am
Gold prices are declining in light of the rise in USD
Gold prices fell on Tuesday in light of the rise in the US dollar and as investors await the release of important economic data this week in search of clues about how long it can continue to raise interest rates to curb inflation. The spot gold price fell 0.1 percent …
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1 August 2023 10:29 am
Yen fell to its lowest level in 3 weeks, after new decisions by the Bank of Japan
The Japanese yen fell again to a three-week low on Tuesday as traders assessed moves announced last week by the Bank of Japan to adjust its yield curve control policy, while the Australian dollar fell ahead of the Reserve Bank of Australia’s interest rate decision. The yen has been on …
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1 August 2023 9:30 am
Oil stabilizes near its highest level in 3 months, amid indications of declining supplies
Oil prices changed little on Tuesday and remained hovering near a three-month high reached on Monday amid signs of declining global supplies due to production cuts by producing countries and strong demand in the world’s top fuel consumer, the United States. By 0135 GMT, Brent crude futures were at $85.30 …
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1 August 2023 2:22 am
Market Drivers – US Session- August 1
Crude oil prices surged for the third consecutive day and for the seventh time out of the last eight days. WTI got closer to $82.00 per barrel and posted its highest close since mid-April.The US Dollar posted mixed results on Monday, rising versus the Euro, the Pound, and the Yen …
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