The GBP/USD pair is currently trading around 1.2700 as markets prepare for a lopsided Wednesday session with a US holiday and a fresh update on UK CPI inflation. The Bank of England’s interest rate call is expected on Thursday, and another rate hold is expected. Market sentiment was broadly pinned …
Read More »European Stocks Mixed as Earnings Take Center Stage Ahead of ECB, BoE Decisions
European equity markets traded in a mixed fashion on Thursday, as investors weighed overnight weakne…
Bitcoin Slides Toward $70,000 as Thin Liquidity and Tech Stock Rout Hit Risk Assets
Bitcoin slumped nearly 8% on Thursday, falling toward the $70,000 level as thinning liquidity and a …
Trump, Xi Hold Wide-Ranging Call Ahead of April Visit, With Taiwan and Iran in Focus
U.S. President Donald Trump said on Wednesday that he held a “long and thorough” phone call with Chi…
Gold Retreats in Asia as Silver Suffers Sharp Selloff on Dollar Strength
Gold prices reversed earlier gains and moved lower in Asian trading on Thursday, while silver plunge…
Recent Bitcoin Crash Signals a Deeper Crisis
Bitcoin has tumbled nearly 40% from its October peak, while Ethereum has lost half its value over th…
Fed’s Lisa Cook Flags Inflation Risks Amid Steady Growth
U.S. Federal Reserve Governor Lisa Cook said Wednesday that risks remain tilted toward higher inflat…
Why US Stocks Fell Despite the End of the Government Shutdown
Relief Rally That Never Showed Up: Risk sentiment initially improved after the partial US government…
Gold Pulls Back as US Dollar Gains and Geopolitical Tensions Ease
Modest Retreat After Recent Rally Gold fell nearly 1% midweek, retreating from multi-day highs as th…
ECB Poised To Hold Steady as Euro Strength and Growth Challenges Shape Policy
Interest Rates To Stay On Hold As Bank Adopts Cautious Stance: The European Central Bank (ECB) conve…
GBP/USD Awaits Bank of England as US Services Data Surprises
Sterling Consolidates Below 1.3700 Ahead of BoE DecisionThe British pound slipped against the US dol…
Market Analysis
June, 2024
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18 June 2024 9:41 pm
Could OPEC lose its control over global oil prices?
The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …
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18 June 2024 8:20 pm
Gold prices decline despite positive central bank demand forecast
Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …
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18 June 2024 7:07 pm
US Dollar Trades With Loss Following Bad Retail Sales Data
The US Dollar has been trading in the red after a disastrous US Retail Sales, which missed the 0.2% consensus and resulted in a contraction in retail sales without transportation. This has led to a second wave of US Dollar easing, with the Redbook Index for June now at 5.9% …
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18 June 2024 12:59 pm
Forex Overview: Dollar Firms Ahead of Retail Sales Data and Fed Speeches
The U.S. dollar gained ground on Tuesday, buoyed by anticipation of key retail sales data and speeches from Federal Reserve officials. Traders sought insights to better understand the potential timing and pace of future interest rate cuts. The Dollar Index, measuring the greenback against a basket of major currencies, rose …
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18 June 2024 4:54 am
Market Drivers; US Session, June 17
Even while US yields rose in reaction to an improvement in overall risk appetite trends and a modicum of relief from political unrest in Europe, the US dollar lost some of its recent gains. Amidst investor speculation of two Fed interest rate cuts in 2024, the USD Index (DXY) posted …
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18 June 2024 4:41 am
Oil Prices: Driving Season Outlook Amid Initial Optimism
Investors and traders are paying attention to oil prices ahead of the summer driving and travel season amid a mix of optimistic expectations, well-founded fears and high demand for fuel.Optimism about OPEC+ trendsOil recently achieved its first weekly gains in a month, supported by reports and data that injected more …
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17 June 2024 11:06 pm
US stocks climb as rate cut hopes defy cautious Fed
The Dow Jones Index has seen slight gains on Monday, climbing four-tenths of a percent as investors recover balance and resume the long wait for rate cuts from the Federal Reserve. The ‘bad news is good news’ sentiment has fueled investor sentiment seeking an accelerated pace of rate cuts from …
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17 June 2024 7:41 pm
Gold prices continue to suffer from Fed’s rhetoric
Gold prices have continued to decline since the beginning of trading on the first day of the new week’s trading, following in the footsteps of commodities that took a downward trend since the opening bell.Spot gold contracts fell to $2,318 per ounce, compared to the previous daily close, which recorded …
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17 June 2024 4:29 am
Financial Markets’ Weekly Recap: Major central banks, inflation data in spotlight
Investors and traders kept a close eye on the US inflation figures as well as the FOMC meeting in June. Due to the Fed’s aggressive approach, selling transactions took hold of gold prices immediately following the announcement that US interest rates would remain steady. Prior to the announcement of the …
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14 June 2024 2:38 am
US Economy: From Recession Fears to Growth, What’s Next?
The US economy surprised many analysts and investors in 2024 by shifting from early fears of a potential recession into a period of resilience and growth. The Federal Reserve, which initially expected to cut rates multiple times this year, has revised its stance to just one cut. So, what does …
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14 June 2024 12:56 am
Moscow Exchange Halts Trading Euro, USD on Fresh US Sanctions
The recent escalation in the US-Russian standoff has had a major impact on the Russian financial system. This comes after the US decided to impose a new batch of sanctions on June 12, targeting the Moscow Stock Exchange, the National Clearing Center and the National Settlement Depository, key players in …
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13 June 2024 11:21 pm
USD/JPY edges up slightly despite falling US bond yields
The USD/JPY recovered some ground during Thursday’s North American session yet is virtually unchanged, up by a minimal 0.08%, weighed by a fall in US Treasury bond yields. US economic data from the United States (US) shows that inflation is getting lower, yet the Federal Reserve remains skeptical that the …
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