Oil prices rose for the second day in a row on Friday and are set to achieve a weekly gain for the sixth time in a row, after Saudi Arabia and Russia pledged to cut production until the end of next month. Brent oil futures for October delivery rose 30 …
Read More »Gold Prices Fall as U.S. Tariff Threats and Strong Payrolls Data Weigh on Sentiment
Gold prices slipped in Asian trade on Monday, pressured by a steady U.S. dollar and the ongoing unce…
Weekly market wrap: FOMC minutes are looming amid trade fears
Three things dictated price action in financial markets last week, including reaching a trade deal b…
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…
Market Analysis
August, 2023
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4 August 2023 12:02 pm
European stocks stabilize after a 3-day sell-off
European stocks were flat on Friday after a three-day sell-off, as recent fears of slowing global economic growth were outweighed by strong expectations from retail giant Amazon and a number of other companies. The pan-European Stoxx 600 index rose 0.1% by 0723 GMT, but was still on track to post …
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4 August 2023 10:47 am
Gold is heading for a weekly loss due to the rise in US bond yields
Gold appears to be heading for its worst weekly performance in six weeks on Friday, as investors await the closely watched US jobs report, after a batch of strong economic data this week pushed US Treasury yields to their highest levels in nine months. Spot gold rose 0.1 percent to …
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4 August 2023 10:46 am
Dollar suffers ahead of the jobs data and the Australian dollar is recovering
The dollar fell from a four-week high against its major counterparts on Friday, as investors awaited the jobs report, which could influence the course of US interest rate movements. The pound sterling recorded a slight increase after it compensated for the losses it suffered in the wake of the Bank …
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4 August 2023 2:31 am
Market Drivers – US Session, August 3
In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …
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4 August 2023 1:48 am
USD/CAD peaks, then stabilizes after US economic data
The USD/CAD pair peaked at 1.3377’s daily high, then consolidated at 1.3355. Further oil production cuts by Saudi prospects lifted crude prices, favouring the Canadian dollar.On Thursday’s session, the USD/CAD reversed as the US counterpart lost traction following weak mid-tier economic data. The pair rose to nearly 1.3380 and then …
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4 August 2023 1:06 am
Amazon stock climbs 7% on robust earnings
Amazon reported its second quarter earnings, lifting the company’s stock up by 7%, despite concerns about its cloud business’s future. Cost cutting in addition to surging online sales contributed remarkedly in the robust Q2 earnings.The company reported a small but vital beat for revenue in its cloud business, Amazon Web …
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4 August 2023 12:05 am
GBP/USD slightly recovers after BoE’s policy decision, US data
The Bank of England raised rates to 5.25%, causing a one-month low in the GBP/USD pair. The decision was based on a split vote, with two members expecting a 50-bps rate hike.US Initial Jobless Claims were in line with estimates, and the ISM’s business services activity reading was 52.7, indicating …
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3 August 2023 10:45 pm
Gold consolidates losses on soaring T-yields
The price of gold is consolidating its losses on Thursday, trading around the $1,930 range after dropping to its lowest level in over a month at $1,929.48 per ounce. The price of the precious metal at the time of writing is $1933.55. The decrease was caused by the US dollar’s …
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3 August 2023 9:50 pm
How Could Key Assets React To NFP Data?
The US Bureau of Labour Statistics will release the awaited Nonfarm Payrolls (NFP) report for July on Friday. The jobless rate remains at 3.6%, indicating that the labor market remains extremely tight.Nonfarm Payrolls are expected to have increased by 200,000 in July, down from the 209,000 jobs that were reported …
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3 August 2023 8:52 pm
British rate-sensitive assets gain post BoE’s policy decision
The Bank of England raised interest rates by 25 basis points, easing monetary tightening from its previous meeting. The key interest rate reached a 15-year peak of 5.25%, with market pricing suggesting a 50-basis point increase. However, unlike the US central bank or the ECB, the Monetary Policy Committee (MPC) …
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3 August 2023 7:41 pm
Dollar’s gains consolidated following mixed data, Fitch’s quake
The US Dollar has gained strength against rival currencies due to mixed data reports and Fitch’s downgrade of the US government’s credit rating. The USD Index reached its highest level in nearly a month above 102.50 in the European session before retreating to the 102.50 area in the second half …
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3 August 2023 4:23 pm
Bank of England hikes interest rate to 5.25% as expected
Following its policy meeting in August, the Bank of England declared that it has increased the policy rate by 25 basis points (bps), to 5.25%. This choice was consistent with what the market anticipated. Haskel and Mann, two policymakers, voted in favour of a rate increase of 50 basis points, …
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