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Market Analysis

March, 2023

  • 15 March 2023 7:39 pm

    Australia’s Employment Forecasts By Five Major Banks

    Australia is expected to report its February employment figures on Thursday, and as markets get closer to the release time, forecasts, from economists and researchers at five major banks regarding the upcoming employment data, are worth consideration.Australia is expected to have added 48.5K jobs versus the previous reading -11.5K in …

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  • 15 March 2023 5:23 pm

    Oil fell on concerns of the banking sector

    Oil extended its losses on Wednesday, with Brent crude hitting a three-month low as concerns about Credit Suisse raised concerns in global markets, limiting the positive impact of expectations of a recovery in Chinese oil demand. Indications of a return to calm and stability faded after the National Bank of …

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  • 15 March 2023 4:22 pm

    Turkey’s budget deficit is 170.6 billion liras in February following the earthquakes

    The Turkish Finance Ministry said on Wednesday that the Turkish government’s budget recorded a deficit of 170.56 billion liras ($8.99 billion) in February, showing the impact of the violent earthquakes that hit the southeast of the country last month. The ministry added that the core budget, which does not include …

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  • 15 March 2023 3:06 pm

    ECB likely to stick to big rate hike despite banking turmoil

    Policymakers at the European Central Bank are leaning towards a half-point rate rise on Thursday, as the banking sector crisis subsides, the eurozone economy strengthens, and inflation is expected to remain too high for years. When the collapse of Silicon Valley Bank (SVB) in the United States sent vibrations across …

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  • 15 March 2023 1:24 pm

    Energy Agency: Resuming China’s activities, air transport recovery increase oil demand

    The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19. “Global oil demand growth started …

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  • 15 March 2023 12:15 pm

    USD finds support as fears of a banking crisis subside

    The dollar found support in Asian markets on Wednesday, as investors cut their expectations about cutting interest rates in the United States after easing fears of a banking crisis and the release of data showing that inflation remains high. In early trading, the wave of selling the dollar, which lasted …

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  • 15 March 2023 11:51 am

    Nikkei ends 3-day losing streak as banking stocks rise

    Japanese banking stocks closed higher on Wednesday, helping the Nikkei index end a three-day losing streak, as markets regained some calm after investor fears of spillovers from the Silicon Valley bank collapse subsided. The Tokyo Stock Exchange’s banking index rose 3.3 percent, led by shares of Suruga and Shimane Banks, …

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  • 15 March 2023 11:36 am

    Gold prices fell as the dollar and bond yields rose

    Gold prices fell on Wednesday as the dollar and US bond yields rose as investors assessed the path of US interest rates after a consumer price report showed that inflation remains high. Gold fell in the spot market 0.1 percent to $ 1901.24 an ounce by 0052 GMT, after falling …

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  • 15 March 2023 3:50 am

    Market Drivers – US Session 14/03/2023

    Despite rising Treasury rates and CPI on Tuesday, the US dollar was unable to recover. Wall Street recovered and ended its five-day losing streak. The dollar continued to decline on Tuesday, although it managed to stay above Monday’s lows while remaining weak. The Nasdaq increased by more than 2%, while …

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  • 15 March 2023 3:04 am

    After SVB Collapse, Fed’s Bowman: America’s banking sector remains resilient

    In a statement published by Reuters late on Tuesday, Federal Reserve Governor Michelle Bowman dispelled rumours that the US banking industry would face difficulties in the wake of the Silicon Valley Bank (SVB) scandal.Fed’s Bowman noted that the banking sector has strong capital and liquidity and that the Fed board …

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  • 15 March 2023 1:30 am

    WTI slides lower post CPI reading

    Following the US CPI inflation reading for February, which increased at an annualised 6% pace, in line with predictions and down from 6.4% in January, oil prices are falling in noon trading. Inflation in the United States remains far over Fed’s target, raising the possibility of a recession, particularly in …

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  • 15 March 2023 12:49 am

    GBP/USD slides lower ahead of UK budget

    The GBP/USD pair was lower on Tuesday but hovers around a one-month high on the back of the trading day’s softer US dollar that was dented at the start of the week due to the market turmoil in the banking sector. At the time of writing, the GBP/USD pair is …

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  • 14 March 2023 11:54 pm

    US stocks rebound following US inflation data

    Following a significant selloff over the previous few days, regional bank stocks rallied to conclude the US trading session. On Tuesday, bank stocks increased and Treasury yields increased as some traders expected that banking sector hardship may be minimised, allowing the Federal Reserve to concentrate on fighting inflation.Compared to Monday’s …

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