Official data revealed on Wednesday that inflation in Britain slowed as expected in July to its lowest annual rate since February 2022, despite more indicators monitored by the Bank of England that reflect pressure on commodity and services prices. The Office for National Statistics said annual consumer price inflation slowed …
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
August, 2023
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16 August 2023 2:09 pm
Oil is falling due to Chinese growth fears, despite the scarcity of US supplies
Oil prices turned lower on Wednesday, extending the previous session’s 1 percent loss, as weak economic data from China outweighed tight US crude supplies. Brent crude futures fell 21 cents to $84.68 a barrel at 0249 GMT, while US West Texas Intermediate crude fell 20 cents to $80.79. Both benchmarks …
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16 August 2023 1:02 pm
European stocks opened lower, affected by mining companies with exposure to China
European stocks opened lower on Wednesday, with miners exposed to China leading losses after weak economic data from Beijing, while British stocks were pressured by a larger-than-expected headline inflation reading. And by 0708 GMT, the pan-European Stoxx 600 index was down 0.2%, after closing at its lowest level in more …
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16 August 2023 12:34 pm
Japanese Nikkei index ended trading at its lowest level in more than two months
The Japanese Nikkei index closed trading lower and reached its lowest level in more than two months, Wednesday, August 16, as expectations for the Chinese economy pressured risk appetite, including bank stocks, after a report on a possible downgrade of the rating of major US banks. The Nikkei index fell …
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16 August 2023 1:22 am
Market Drivers – US Session, August 15
The US Dollar Index exhibits obvious strength. It surged for the fourth day in a row on Tuesday, reaching its highest point in a month. With the help of rising risk aversion and a comeback in Treasury yields, the DXY was able to recoup its losses. Over 1% was lost …
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16 August 2023 1:08 am
Gold prices struggle as surging T-yields accumulate pressure
Following the release of official statistics showing a spike in retail sales by American merchants in July, the Treasury rates and the US dollar rose, sending gold prices further downward on Tuesday, closing at their lowest levels in more than a month.Following the release of higher than anticipated Retail Sales …
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16 August 2023 12:20 am
Despite strong US retail sales, UK wage growth drives GBP/USD uptrend
UK wages excluding bonuses soared to the highest growth rate since 2001, pushing unemployment to 4.2%. The GBP/USD pair surges following Monday’s session, which portrayed a ‘hammer’ formation, suggesting that further upside is expected. UK jobs data overshadowed positive economic data from the United States, as wages grew above estimates, …
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15 August 2023 11:32 pm
USD/JPY flat after US Retail Sales
After falling to the 145.10 low, the USD/JPY pair is neutrally trading around 145.65 at the time of writing. Strong US retail sales led markets to expect a Fed rate move in November. BoJ’s divergent monetary policies are hurting the yen, which is unable to gain from strong GDP figures.The …
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15 August 2023 10:28 pm
WTI retreats over 2% on China’s economic slowdown
At the time of writing, the price of a barrel of WTI crude oil is $80.292. On the whole, it is down nearly -1.86%. In response to the economy’s sluggish recovery, China’s central bank lowers crucial lending rates, which affects the outlook for global oil consumption. Saudi Arabia and Russia’s …
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15 August 2023 8:31 pm
Home Depot’s earnings beat market estimates
Dow Jones hardware heavyweight Home Depot reported Q2 results early Tuesday. Rival Lowe’s will announce earnings on August 22. HD stock rose early Tuesday. LOW stock is attempting to reclaim technical support.Homebuilders, a key market for hardware and home improvement retailers, rallied aggressively in 2023. Rising interest rates have slowed …
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15 August 2023 7:57 pm
Fed’s Kashkari: Inflation is still too high
Minneapolis Federal Reserve President Neel Kashkari said noted on Tuesday that he is feeling good about the progress on inflation but added that it was still too high, per Reuters.“The question is, have we done enough, or do we need to do more,” Kashkari added said that they have been …
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15 August 2023 3:57 pm
Unemployment in Britain rose to 4.2% in the second quarter of 2023
The UK unemployment rate rose to 4.2% in the second quarter of 2023, the highest level since late 2021 and above market expectations and the previous level of 4%. This rise was supported by the number of unemployed persons for a period of up to 6 months. The rate of …
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15 August 2023 2:45 pm
German ZEW Economic Sentiment Index improves to -12.3 in August
According to the German ZEW headline figure, the Economic Sentiment Index improved to -12.3 in August from -14.7 in July. This number was higher than the -14.4 predicted by the market. Similarly, the Eurozone Economic Sentiment Index increased to -5.5 from -12.2 during the same period. On the negative side, …
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