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Market Analysis

June, 2023

  • 20 June 2023 4:21 am

    US Session – Market Drivers – 19/06/2023

    As US markets were closed in observance of the Juneteenth Holiday, markets have had a tranquil start to the week with no data. The American Dollar partially recovered from the enormous losses of the previous week, but it is still struggling as Gold stays around $1,950 per troy ounce and …

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  • 20 June 2023 12:10 am

    GBP/USD higher as UK inflation awaited

    After a gloomy start to the week, the GBP/USD picks some upside momentum as it rallies to 1.2800 in the early hours of Tuesday’s Asian session. In doing so, the Cable pair oscillates within a one-week bullish trend pattern, reaching its highest levels in 14 months. To counter the week’s …

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  • 19 June 2023 11:04 pm

    Gold price declines on stronger US dollar

    Under pressure from the US dollar’s recent, gold price has been declining since the beginning of daily trading, Monday, amid the American Juneteenth holiday amid thin liquidity and the absence of catalysts that would move the markets.Gold futures fell to $1,950 an ounce, compared to the previous daily closing of …

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  • 19 June 2023 9:49 pm

    Natural gas rally continues after 17% weekly gains

    The price of natural gas is still rising following one of the best weeks of 2023, which saw a 17% increase. After disruptions in Norway, the continent’s primary producer, there are still doubts over whether European supply can keep up with demand. Despite strong fundamentals, as long as prices are …

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  • 19 June 2023 8:23 pm

    On low volume US session, USD/JPY remains near cycle high

    The USD/JPY pair trades stable in the 141.80 area after hitting its highest point since November 2022. US Stock and bond markets are closed on Juneteenth celebrations.US economic data and Chair Powell’s statement on Wednesday will be watched closely. After reaching a multi-month high on Friday, the USD/JPY modestly dropped …

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  • 19 June 2023 7:38 pm

    EUR/USD under selling pressure in quiet week start

    The EUR/USD pair’s current price is 1.0921 at the time of writing amid signals by ECB policymakers concerning additional interest-rate hikes in the horizon.The EUR/USD pair is under mild selling pressure on Monday, easing from the 1.0970 multi-week high posted on Friday, to trade near the 1.0900 level. Markets in …

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  • 19 June 2023 3:52 pm

    Gold is losing some luster amid investors’ assessment of the path of US interest rates

    Gold recorded some decline in 19 limited transactions, Monday, June 19, under pressure from the strength of the dollar, as investors evaluate the future path of interest rates after the US Federal Reserve’s statements that hinted at future increases. Spot gold prices fell 0.2% to $1953.69 an ounce. US gold …

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  • 19 June 2023 1:29 pm

    Passenger car sales in China rose 26.4% in May

    Data showed that passenger car sales in China rose to 2.05 million units in May, up 26.4% year on year. Specifically, sales of SUVs, MPVs and crossovers in May expanded compared to the same period last year, according to data from the China Association of Automobile Manufacturers. During the period, …

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  • 19 June 2023 11:58 am

    European shares fall at open, Sartorius plunges on forecast cut

    European equities dipped at the opening bell on Monday, led by Franco-German lab equipment maker Sartorius, as investors expected additional stimulus measures from China to boost demand. By 0719 GMT, the pan-European STOXX 600 index had down 0.5%, while Germany’s DAX had fallen 0.4% after ending at a record high …

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  • 19 June 2023 10:57 am

    Faint gains for the dollar as traders analyze the path of interest rates

    The dollar felt its way on Monday, as investors continued to analyze the results of the central bank meetings witnessed last week, including the Bank of Japan’s decision to adhere to the monetary easing policy that keeps the yen weak. The dollar index, which measures the performance of the greenback …

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  • 19 June 2023 9:55 am

    Oil gives back earlier gains and banks cut growth forecasts in China

    Global oil prices fell on Monday, reversing gains made last week, as doubts about China’s economy overshadowed OPEC+ production cuts and the reduction in the number of oil and gas rigs operating in the United States for the seventh consecutive week. Brent crude fell 68 cents to trade at $75.93 …

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  • 19 June 2023 1:18 am

    Financial Markets’ Weekly Recap: June 12-16

    The macroeconomics situation of the US has generally improved better than anticipated and is likely to improve further. This is expected to reduce upward support on the dollar’s value.Although the June FOMC meeting gave the impression that hawkish policymakers were taking a break by raising the terminal rate for this …

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  • 17 June 2023 2:42 am

    Market Drivers – US Session – 16/06/2023

    After a volatile week that included many top monetary policy events including the Fed and the ECB meetings, as well as the US CPI data, next week will see interest rate decisions from the Bank of England and the Swiss National Bank. Key Data Market participants’ sentiment is mixed, as …

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