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Market Analysis

June, 2024

  • 18 June 2024 9:41 pm

    Could OPEC lose its control over global oil prices?

    OPEC

    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

    Russia

    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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  • 13 June 2024 9:52 pm

    Treasury yields decline following Powell’s comments on inflation

    US bond yields have been declining since the beginning of daily trading on Thursday, affected by expectations of a rate cut, which highlighted the possibility of limiting the rate cut to only once this year.Ten-year US Treasury bond yields fell to 4.232% compared to the last daily close, which recorded …

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