Heineken beer company’s sales declined in the third quarter of 2023 after completing exit procedures from its investments in Russia, as the Dutch company’s sales recorded a decline of 4.2% in this period.It is likely that the main reason behind the decline in sales could be the slowdown in the …
Read More »EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Oil Prices Decline Amid Nuclear Talks and OPEC+ Output Expectations
Oil futures fell on Friday as market participants reacted to ongoing geopolitical developments and e…
Market Analysis
October, 2023
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26 October 2023 1:35 am
Market Drivers – US Session, October 25
The US Dollar Index rose for the second consecutive day, rising above 106.50, the highest level since last Friday. The dollar received a boost from higher Treasury yields and deteriorating market sentiment following the latest round of earnings results. The Dow Jones dropped 0.32%, and the Nasdaq lost 2.43%. The …
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26 October 2023 1:22 am
Gold hits weekly high despite rising US bond yields
With a gain of over 0.56%, the price of gold has risen to a new weekly high of $1987.25. This is because US business activity is starting to pick up steam, as shown by September’s record-breaking new home sales and the S&P Global PMIs.The US 10-year Treasury bond yield has …
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26 October 2023 12:29 am
Mike Johnson elected as US House Speaker
Following weeks of party infighting that left the House in disarray, Rep. Mike Johnson won the speakership on Wednesday without losing any GOP votes. The lawmaker from Louisiana has been an outspoken advocate for the late President Donald Trump and played a significant role in the congressional effort to rig …
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25 October 2023 11:56 pm
US dollar extends gains on the back of rising T-yields
The US Dollar extended last US session’s gains, but the upward momentum is seen as weak. The US reported positive housing market data, and the 5- and 10-year US Treasury yields recovered, while the shorter-term 2-year rate declined. The Dollar Index climbed higher on Wednesday, rising towards a six-day high …
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25 October 2023 11:20 pm
Meta crushes earnings expectations in Q3
Meta, the parent company of Facebook, achieved profits and revenues that exceeded market expectations on Wednesday, according to a financial performance report issued for the third quarter of the current.The company achieved profits of $4.39 per share, which exceeded market expectations, which indicated $3.63 per share. The company’s revenues also …
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25 October 2023 10:41 pm
WTI leaps hits $85 amid tighter geopolitical tensions
As the Middle East conflict heats up again, WTI Crude Oil is back up the daily charts. Requests for a cease-fire so that civilians could receive humanitarian aid were turned down.EIA barrel counts increased more than anticipated, and as geopolitical concerns accelerate, demand concerns will affect the price of crude …
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25 October 2023 9:33 pm
GBP/USD pressured on weak UK data, risk-off
Amidst growing geopolitical tensions in the Middle East, risk aversion remains the driving force behind the financial markets. The GBP/USD pair hit a three-day low of 1.2113, with sellers aiming for the next support level at 1.2100. The US economy is doing well, according to economic data; in September, new …
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25 October 2023 8:29 pm
Has Bill Ackman become new bond king?
Bill Ackman has just been crowned as the new king of the bond market as the US national debt and deficit reach historic highs. Ed Yardeni, an economist who spent decades on Wall Street at firms like Deutsche Bank, believes that bond guards are once again out in force, with …
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25 October 2023 7:25 pm
BoC’s Macklem: Could certainly be two or three quarters of small negative growth
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the October policy meeting and responds to questions from the press.Key Quotes“Could certainly be two or three quarters of small negative growth.”“Not predicting a deep recession with a …
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25 October 2023 4:11 pm
ECB Preview: Forecasts from major banks
The European Central Bank (ECB) is scheduled to announce its monetary policy decision on Thursday, October 26, at 12:15 GMT. As the release time approaches, economists and researchers from major banks have shared their expectations. The ECB is widely anticipated to maintain its current interest rates unchanged. This expectation comes …
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25 October 2023 3:04 pm
Alphabet exceeds market expectations, reporting profits
Alphabet, Google’s parent company (GOOG, GOOGL), released its third-quarter earnings report after the market closed on Tuesday. The company outperformed analysts’ predictions regarding revenue and earnings per share; however, a disappointing performance from Google’s cloud business led to a decline in the company’s stock during pre-market trading. In the third …
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25 October 2023 11:46 am
Deutsche Bank’s net profit fell by about 8% in Q3
Deutsche Bank’s profits fell by about 8% in the third quarter of this year, but less than expectations. The German bank said in a statement today, Wednesday, October 25, that it recorded net profits of 1.03 billion euros ($1.06 billion), which exceeds expectations of 997 million euros. On the other …
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