The Federal Reserve Chair Jerome Powell stated on Tuesday that the US central bank is unlikely to lower interest rates at its next policy meeting, which is just two weeks away, due to the US economy’s continued strength and a “lack of progress” on inflation. Powell stated during a moderated …
Read More »European stocks fall to the lowest level in a month due to tension in the Middle East
European stock markets opened lower on Friday, hitting their lowest levels in over a month as concer…
Japan’s Nikkei fell as chip-related stocks fell and tension in the Middle East
Japan’s Nikkei index suffered its most significant daily decline in over two and a half years …
Oil prices jump 3 percent amid reports of Israeli strikes on Iran
Oil prices surged by $3 a barrel on Friday following reports of Israeli missile strikes on a site in…
Gold rises amid fears of the expanding scope of the conflict in the Middle East
Gold prices climbed on Friday as risk aversion gripped financial markets following reports of bombin…
Market Drivers; US Session, April 18
Further hawkish comments from Fed speakers boosted the US dollar and sparked a decent bounce in US y…
IMF: Russian economy will grow faster than the US
The International Monetary Fund expects that Russia’s economy will grow by 3.2% in 2024, outpa…
Bitcoin recovers as halving countdown attracts attention
The price of bitcoin has recovered to the level of support that drove the bull market in 2023, with …
XAU/USD boosted on increased central bank purchases
Gold futures continue to rise since the beginning of daily trading on Thursday, driven by increased …
Treasury yields climbs after Fed’s Williams remarks
The slightest suggestion of an interest rate hike by a Federal Reserve official ended the US bond ma…
EUR/USD drops following ECB members’ dovish remarks
The euro’ rebound is unable to rise over 1.0647, down -0.24%, as ECB policymakers hint at a rate cut…
Market Analysis
April, 2024
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16 April 2024 9:42 pm
US Stock Market Stabilizes on Big Earnings Day
Tuesday is a big earnings day, with results from Bank of America and Morgan Stanley. Investors will also be watching for clues regarding the possibility of rate cuts in remarks that Federal Reserve Chair Jerome Powell is expected to make. Bond yields were little higher on Tuesday, and equities fluctuated …
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16 April 2024 8:41 pm
BofA’s Q1 earnings dismal despite expected growing interest income
As the latest major lender to suffer the pinch of higher for longer interest rates, Bank of America reported an 18% decline in first-quarter profit. With the exception of a one-time charge, the results exceeded expectations, mostly due to the bank’s Wall Street and wealth-management units demonstrating good performance. The …
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16 April 2024 7:36 pm
USD/JPY Surges on Stronger Dollar, Higher Treasury Yields
USD/JPY has gained following the stronger than expected US retail data and neutral to hawkish comments by US Federal Reserve officials. The Dollar trades at 154.61, 0.22% above its opening price. US housing indicators, such as Building Permits and Housing Starts, have underperformed, suggesting a construction sector slowdown. However, US …
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16 April 2024 4:03 pm
Bitcoin is retreating just days before the highly anticipated Halving event
Bitcoin (BTC) is grappling with the fallout from escalating tensions between Iran and Israel, which have cast a shadow over risk assets this week. The world’s largest cryptocurrency experienced a 3.4% decline against the US dollar on Monday, closing at $63,318, marking its lowest closing price in nearly a month. …
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16 April 2024 2:40 pm
The STOXX 600 is approaching a 6-week low amid geopolitical tensions
European stock indices dipped to their lowest levels in nearly six weeks on Tuesday as traders veered away from high-risk assets amidst escalating geopolitical tensions in the Middle East. Meanwhile, Ericsson shares soared to the pinnacle of the main index following encouraging business results. As of 0718 GMT, the European …
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16 April 2024 1:33 pm
Euro Zone’s February Trade Surplus Spikes Compared to Previous Year
In February, the eurozone witnessed a notable surge in its trade surplus compared to the previous year, largely due to a significant decline in imports, particularly in energy and raw materials, according to data from the European Union’s statistics office Eurostat released on Tuesday. Eurostat reported that the unadjusted external …
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16 April 2024 12:46 pm
UK Wage Growth Eases as Bank of England Contemplates Rate Cuts
British core wage growth decelerated once again, marking its slowest increase since the three months leading up to September 2022, yet it maintained strength relative to historical norms, as per official data likely to receive a cautious nod from the Bank of England. Official figures from the Office for National …
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16 April 2024 12:04 pm
Dollar Ascends to Five-Month Peak
The dollar surged to a five-month peak against major currencies on Tuesday, driven by stronger-than-anticipated U.S. retail sales figures, igniting concerns over potential intervention from Tokyo as the yen dwindled to its lowest level since 1990. Despite China’s first-quarter GDP data surpassing expectations, the Chinese yuan slightly declined, reflecting ongoing …
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16 April 2024 11:35 am
Oil prices rise on China growth, Middle East tensions
Oil prices experienced a rise on Tuesday, buoyed by stronger-than-expected economic growth in China and escalating tensions in the Middle East following Iran’s recent missile and drone attack on Israel. Brent futures for June delivery advanced by 20 cents, or 0.2%, reaching $90.30 a barrel, while U.S. crude futures for …
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16 April 2024 10:45 am
Asian stocks tumble on US rate jitters, China GDP helps soothe losses
Asian stocks experienced significant declines on Tuesday, mirroring the sell-off on Wall Street amid ongoing concerns about geopolitical tensions in the Middle East and the prospect of prolonged higher interest rates in the United States. Despite the general downturn, Chinese equities fared relatively better following the release of GDP data …
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16 April 2024 3:18 am
Market Drivers; US Session, April 15
Amidst rising Treasury yields, the US dollar’s upward momentum persisted, pushing it to new annual highs around 106.20. This week seems to be dominated by escalating geopolitical concerns, especially in the Middle East. Indicated by the USD Index (DXY), the US dollar held its bullish tilt and surged to new …
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16 April 2024 1:58 am
Where would oil price be heading amid Middle East tensions?
Although oil prices have declined then afterwards managed to recover on Monday, geopolitical tensions might cause them to surge again, which would have repercussions in this year of significant elections. Traders are waiting for Israel to react to Iran’s recent direct attack, therefore they are on high alert. After falling …
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