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Market Analysis

August, 2023

  • 11 August 2023 7:49 pm

    EUR/USD pressured following solid US PPI data

    The EUR/USD pair encountered pressures and experienced losses during the US trading session, reaching 1.0975 from a daily high of 1.1000. US Department of Labour report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.The University of …

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  • 11 August 2023 3:11 pm

    Dollar is heading for gains for the fourth week

    The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …

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  • 11 August 2023 2:02 pm

    European shares opened lower as US inflation data failed to calm concerns

    European stocks fell in early trading on Friday after a wave of gains on Wall Street that was supported by weak inflation data faded, however better-than-expected earnings put the European STOXX 600 on track for a moderate weekly gain. The Stoxx 600 index of European shares fell 0.5 percent by …

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  • 11 August 2023 1:11 pm

    Oil prices are falling as investors evaluate Chinese data and the OPEC demand outlook

    Oil prices fell slightly on Friday as investors weighed the upbeat demand outlook from the Organization of the Petroleum Exporting Countries (OPEC) and at the same time mixed economic data from China. Brent crude fell 15 cents to $86.25 a barrel by 0515 GMT, while US West Texas Intermediate crude …

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  • 11 August 2023 12:13 pm

    The British economy grows more than expected in Q2

    Britain unexpectedly posted some growth in the second quarter, supported by a strong performance in June, official data revealed on Friday, but it remains the only one of the world’s largest economies not to return to pre-COVID-19 levels. The economy expanded by 0.2 percent in the second quarter, compared with …

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  • 11 August 2023 2:29 am

    Market Drivers Post-CPI Data, US Session, August 10

    A spokesperson for Prime Minister Rishi Sunak’s government said Biden’s executive order gave important clarity on the U.S. approach: “The UK will consider these new measures closely as we continue to assess potential national security risks attached to some investments.” The American dollar strengthened on Thursday, supported by higher US …

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  • 11 August 2023 12:33 am

    Bitcoin flirts with $30,000 post-CPI data

    More traders are expected to purchase Bitcoin at steep discounts as they wait for forward-looking macroeconomic data to indicate a recovery in the cryptocurrency’s price since social volume for Bitcoin has increased over the past 30 days. High inflation rates in a nation increase the value of its currency, whereas …

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  • 11 August 2023 12:05 am

    GBP/USD fluctuates amid US CPI data as traders shift focus to UK GDP

    GBP/USD reached a weekly high of 1.2818, but dropped below 1.2700. US CPI remains above 3%, Core CPI remains 4%. UK GDP figures for Q2 release, US inflation data, reacted upwards.US Treasury bond yields soared, leading to a comeback in the US Dollar (USD) at 1.2687. The GBP/USD pair reached …

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  • 10 August 2023 10:47 pm

    Gold positively reacts to CPI data

    Gold extended its gains early on the day but the precious metal is trimming some of those after the US dollar recovers some ground as US Treasury bond yields advance. The latest inflation report for July in the US showed the CPI jumping by 3.2% YoY, below estimates and exceeded …

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  • 10 August 2023 10:27 pm

    US budget deficit hitting $1.6 trillion so far in current fiscal year

    According to the Treasury Department, the US government budget deficit reached $1.6 trillion during the first ten months of the current fiscal year. 4.110%According to the Treasury Department’s report released on Thursday, the federal budget deficit increased by more than twice as much in the first ten months of fiscal …

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  • 10 August 2023 9:41 pm

    WTI retreated below the $83.00 post soft CPI data

    Soft inflation figures from the US and weaker US dollar contribute to limiting crude oil’s losses. Eyes now are focusing on the Fed speaker later during the US trading session. WTI’s outlook remains positive amid reports suggesting tighter global supplies.On Thursday’s session, the WTI crude saw more than 1% losses …

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  • 10 August 2023 8:27 pm

    Moody’s warning revisited as a wake-up call for optimistic banking investors

    The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …

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  • 10 August 2023 7:41 pm

    Fed’s Daly: US July CPI is a “good data point”

    Federal Reserve Bank of San Francisco President Mary C. Daly said on Thursday that today’s Consumer Price Index report was “good news” for families and businesses in an interview with Yahoo! Finance. She mentioned that they are committed to getting core inflation down. The US Dollar Index is falling on …

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