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Market Analysis

April, 2023

  • 28 April 2023 4:50 pm

    Germany’s economy slowed in the first quarter

    Data on Friday showed that the German economy slowed in the first quarter, as higher exports and capital investment offset a decline in government and household consumption. The Federal Statistics Office said the gross domestic product was unchanged on a quarterly basis. Analysts polled by Reuters had expected growth of …

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  • 28 April 2023 2:44 pm

    Oil is heading to record the second monthly loss under on weak US data

    Oil prices are set to record another monthly decline on Friday after disappointing US economic data and uncertainty about an interest rate hike affected demand expectations. By 0946 GMT, Brent crude futures for June delivery were up 42 cents, or 0.5 percent, at $78.79 a barrel. These contracts expire on …

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  • 28 April 2023 1:37 pm

    European stocks rise amid strong results

    European stocks rose on Friday, echoing overnight gains on Wall Street, supported by strong corporate earnings as investors awaited first-quarter GDP growth estimates in the euro zone to assess the strength of the region’s economies. The pan-European Stoxx 600 rose 0.3 percent, but was on track for its first weekly …

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  • 28 April 2023 12:54 pm

    German unemployment rises more than expected in April

    Germany

    German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by …

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  • 28 April 2023 11:42 am

    Japan’s Nikkei at an 8-month peak after the central bank maintained its stimulus policy

    Japan’s Nikkei rose to an eight-month high on Friday after the Bank of Japan kept its ultra-loose monetary policy unchanged, boosting the index further after a series of strong corporate results boosted it. The Nikkei index rose to 28,879.24 points for the first time since August 19, and closed near …

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  • 28 April 2023 3:10 am

    Market Drivers – US Session 27/04/2023

    On the back of positive earnings announcements, Wall Street saw its best day in a week on Thursday, with the Dow Jones rising 1.57% and the Nasdaq rising 2.43%. Surprisingly, Meta Platforms increased by approximately 14% on Thursday. Companies including Exxon Mobil, Chevron, PetroChina, China Construction Bank, Sony, and Mercedes-Benz …

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  • 28 April 2023 2:24 am

    EUR/USD defends corrective bounce after volatile US session

    The EUR/USD pair seesaws around 1.1030 after a volatile US session. The pair is trading at 1.1026 at the time of writing. On Thursday, the first readings of the US Gross Domestic Product (GDP) for the first quarter (Q1) of 2023, also known as Advance readings, marked mixed outcomes. Headline …

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  • 28 April 2023 1:23 am

    Gold steadies below $1,990 after key US data

    The US economy grew slower than anticipated in the first quarter of the year. Stock markets are on the rise amid upbeat corporate earnings reports as gold is technically neutral, although, with absent demand for US dollar, the risk skews to the upside.Gold failed once again to penetrate the $2,000 …

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  • 28 April 2023 12:21 am

    WTI’S comeback closes chart gap as EIA slammed by OPEC

    WTI crude oil is up by some 0.6% and has traveled within a range of between $75.24 and $74.08 so far. Following two days of losses that cut prices to the lowest since late March, the black gold is back on the mend in a mini short squeeze.WTI has closed …

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  • 27 April 2023 10:53 pm

    Meta stock surges following earnings

    After the social networking behemoth announced earnings that exceeded expectations, Meta’s stock is having a field day on Thursday, rising roughly 14%. The movement was sufficient to push the shares to 52-week highs, and they are now on the verge of a significant turning point. Following strong quarterly results from …

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  • 27 April 2023 9:36 pm

    World Bank expects global commodity prices to decline in 2023

    This year, it’s anticipated that the cost of energy, food, and metals will continue to decline. According to a new World Bank research, prices are projected to continue to fall in 2023, but consumers won’t likely experience much respite because commodity costs are still higher than they were before the …

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  • 27 April 2023 8:23 pm

    AUD/USD erases gains after US data, slides toward 0.6600

    US growth data comes in below expectations. US Dolla rises across the board boosted by US yields.AUD/USD up marginally, off highs after losing ground for four days in a row.The AUD/USD is rising marginally on Thursday after it trimmed gains on the back of US economic data. The pair peaked …

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  • 27 April 2023 7:10 pm

    US: Pending Home Sales decline in March

    Pending Home Sales in the US fell sharply in March. US Dollar Index holds in positive territory above 101.50.Pending Home Sales in the US declined by 5.2% on a monthly basis in March, the data published by the National Association of Realtors showed on Thursday. This reading followed February’s no-change …

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