In a week marked by market fluctuations, oil prices showcased remarkable resilience, driven by optimistic forecasts from the International Energy Agency (IEA) and unexpected shifts in U.S. inventory levels. IEA’s Optimistic Forecast Spurs Confidence The week began with a notable uptick in market sentiment following the IEA’s revision of its …
Read More »Gold advances, ignores stronger US Dollar following soft US data
Gold advances on weaker than expected US data despite strong US Dollar Gold rebounds from daily lows…
Why is Boeing Attracting Investors’ Attention?
Recently, Boeing has drawn attention from investors and is regularly included in lists of the most-s…
US Dollar closes the week slightly higher as focus shifts to CPI data
With modest gains on Friday, the US Dollar Index, DXY, closed the week marginally higher. In order t…
USD/CAD sharply declines on strong Canadian jobs data
Following solid Canadian employment figures, the USD/CAD pair plunges impulsively to 1.3636, down -0…
U.S. Futures Rise as Investors Eye Fed Speeches and Data
U.S. stock index futures climbed on Friday, driven by investor anticipation of speeches from Federal…
Dollar Steadies as Labour Market Cools, Pound Rises on UK Economic Growth
On Friday, the dollar found its footing after experiencing overnight losses fueled by U.S. data sign…
Gold Prices Rally as Dollar Weakens Amid Cooling Labor Market and Geopolitical Tensions
In the realm of precious metals, gold emerged as the shining star in Asian trade on Friday, extendin…
Turkish Central Bank revises inflation forecasts upward, vows to maintain containment efforts
On Thursday, the Turkish Central Bank revised its inflation forecast for the end of the year, projec…
Nikkei gives up early gains after chip industry-related stocks decline
On Thursday, the Japanese Nikkei index struggled to maintain its early gains and ultimately closed l…
Will Ethereum and Bitcoin quietly gain fresh momentum?
The previous few weeks have seen a turbulent ride for cryptocurrencies, with unexpected lows and tre…
Market Analysis
March, 2024
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15 March 2024 4:22 am
US Dollar Rises After Russian Nuclear Weapon relocation
Russia has relocated its tactical nuclear weapons from its boundaries into Belarus, a neighbouring country that is several hundred miles closer to NATO territory. This was confirmed by Western officials to Foreign Policy. This development was a reaction to NATO’s support of Ukraine, which has led Russian President Vladimir Putin …
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15 March 2024 2:05 am
Explainer: What can Yield curve reveal about looming FOMC decision?
With a shorter-term note (2-year) yielding higher than a longer-term note (10-year), the curve on Friday, March 8, might have been steeper than normal. This could indicate market expectations of Fed to refrain from interest rate cut in March in order to avoid falling in a recession. The Treasury yield …
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15 March 2024 1:36 am
Market Drivers – US Session, March 14
The US dollar rallied this week, fueled by positive economic data. Inflation data and the recent labour market conditions in the United States pushed the USD Index to new multi-day highs above 103.445.The USD Index (DXY): Strong gains continue, breaking past 103.00 on robust inflation and labor data. Keep an …
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15 March 2024 12:15 am
GBP/USD Weakens as US Data Fuel Interest Rate Worries
The GBP/USD slipped around 1.2745, losing 0.06% on the day. US Retail Sales rose 0.6% month-over-month in February from -1.1% in January, worse than expected. BoE’s Bailey said central bankers turned to the question of how long they needed to keep rates high as inflation eased. Investors will focus on …
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14 March 2024 11:13 pm
ECB’s de Guindos: Wages still a risk, but inflation on track
Late on Thursday, European Central Bank Vice President Luis de Guindos gave reporters his assessment of the ECB’s probable decision to lower interest rates by the second half of the year.Key Quotesde Guindos sees the European economy picking up in the second half of the year.The ECB should have sufficient …
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14 March 2024 9:14 pm
Treasury Yields surge following PPI, Retail Sales
US Treasury yields jump as inflation report cools expectations for immediate Fed rate cuts. February’s Retail Sales rebound highlights consumer spending strength despite falling short of forecasts.Producer Price Index (PPI) data and lower-than-expected jobless claims reinforce views of strong economic activity.US Treasury yields made a significant leap on Thursday, a …
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14 March 2024 7:34 pm
Sterling weakens as PPI data improves dollar’s safe-haven appeal
The Pound Sterling fell against the US Dollar in early New York due to hot US Producer Price Index data for February, which dampened the appeal of risk-sensitive assets. The GBP/USD pair dropped as investors’ risk appetite eased on the expectation that the US PPI would reinforce fears that the …
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14 March 2024 6:25 pm
EUR/USD declines following US economic data
The EUR/USD pair has fallen to the lower 1.0900s following the release of US macroeconomic data, which indicates continued inflationary pressures in the economy. The pair is trading at 1.0902, down 0.42% at the time of writing.EUR/USD Reacts to Economic DataFactory gate prices rose more than expected in February, while …
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14 March 2024 5:02 pm
US Producer Price Index (PPI) Exceeds Expectations
The latest data from the US Bureau of Labor Statistics revealed that the Producer Price Index (PPI) for final demand in the United States surged by 1.6% on a yearly basis in February. This figure surpassed market expectations of a 1.1% increase and marked a notable uptick from the 1% …
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14 March 2024 4:17 pm
IEA Raises Oil Demand Growth Forecast Amidst Disruptions
The International Energy Agency (IEA) has revised its outlook for oil demand growth, citing disruptions to Red Sea shipping as a key factor. The agency, representing industrialized nations, forecasts a growth of 1.3 million barrels per day (bpd) in 2024, up by 110,000 bpd from its previous month’s projection. Divergent …
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14 March 2024 3:11 pm
European Stocks Edge Higher Amid Data Anticipation
European stocks opened on a positive note on Thursday, buoyed by upbeat corporate reports, although investor sentiment remained cautious ahead of crucial economic data releases from the United States. The European STOXX 600 index, a barometer of regional market performance, edged 0.2 percent higher by 08:11 GMT, lingering near its …
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14 March 2024 1:35 pm
Currency Markets Reflect Cautious Optimism Ahead of Awaited Data
Amidst a landscape of currency markets characterized by cautious optimism, investors around the globe find themselves on the precipice of pivotal decisions, with the trajectory of the world’s largest economy poised to influence exchange rates and trading sentiments. Data-Driven Anticipation The currency arena resonates with anticipation as market participants eagerly …
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