Introduction: Geopolitical Developments Impact Crude Prices Oil prices experienced a modest increase on Friday, with ongoing tensions in Gaza contributing to market fluctuations. The situation intensified following reports of fatalities among Palestinians waiting for aid, adding complexity to ceasefire negotiations. Brent Crude Futures: Slight Uptick Brent crude futures for May …
Read More »Wall Street Rallies on Softer US Data, Giants’ Results
On Friday, the stock market rallied, continuing its upward trajectory for a third week. Despite a we…
Shell exceeds expectations with upbeat Q1 profits
Amid difficulties in Russian refining and shipping across the Red Sea, Shell reported a $7.7 billion…
Bitcoin Successfully Passes Nonfarm Payrolls Test
As of this writing, Bitcoin has gained 4.42% and is trading at 61,739 following the release of the N…
Fed’s Bowman: Willing to raise rates if inflation persists
Michelle W. Bowman, a member of the Federal Reserve Board of Governors, issued a warning, stating th…
Fed’s Goolsbee: Current employment numbers are very solid
President of the Federal Reserve Bank of Chicago Austan Goolsbee commented, Friday, on the labour ma…
US Nonfarm Payrolls Surge by 175,000 in April
The latest report from the US Bureau of Labor Statistics (BLS) revealed that Nonfarm Payrolls (NFP) …
Inflation in Türkiye rose near 70%, recording the highest level since 2022
Official data released on Friday revealed that annual consumer price inflation in Turkey surged to 6…
European stocks rise thanks to banking results and technology sector gains
European stocks opened higher on Friday amid a state of joy among investors with a group of strong r…
JPY poised to record best weekly performance in more than a year, USD declines
The yen is poised to achieve its most impressive weekly performance in over a year on Friday, propel…
Gold heading lower for the second week ahead of US jobs data
Gold prices are heading to decline for the second week in a row, despite the stability of prices on …
Market Analysis
March, 2024
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1 March 2024 2:40 am
Market Drivers – US Session, February 29
Amid ongoing indications of inflation losing steam on both sides of the Atlantic and consistent wagers that the Fed and the ECB will cut interest rates at some point this summer, the US dollar’s continuing purchasing pressure put additional pressure on the risk-linked assets. Economic Data The personal consumption expenditures …
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1 March 2024 1:26 am
Gold rallies as T-yields dip following PCE data
Gold prices surged over 0.50% in the North American session after the release of the Fed’s Core Personal Consumption Expenditure Price Index, which confirmed the continued disinflation trend. The data supported the fall in US Treasury bond yields, which correlate inversely to precious metals prices. The Core PCE report showed …
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1 March 2024 12:47 am
Global stocks gain on in-line US inflation, retreating treasury yields
The global equity index advanced on Thursday after anticipated US inflation reading, which provided little surprise for relieved investors and helped push US Treasury yields lower. Wall Street’s major stock indexes rebounded from the previous session’s decline due to investor jitters ahead of the US personal consumer expenditures (PCE) price …
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February, 2024
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29 February 2024 11:29 pm
House Passes Funding Extension To Avoid US government shutdown
The House of Representatives has approved a temporary extension of government funding to prevent another deadline to avoid a government shutdown. The short-term extension will fund some government agencies for another week, through March 8, and the remaining agencies until March 22. Senate Majority Leader Chuck Schumer said the Senate …
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29 February 2024 10:49 pm
US dollar advances as markets digest PCE data
The US Dollar Index (DXY) is trading near 104.130, up for Thursday’s session, with the Core PCE Price Index matching predictions. Markets continue delaying rate cuts from the Fed, favoring the Greenback. Personal Consumption Expenditures (PCE) showed no surprises, and the Fed won’t rush to cut rates if there’s no …
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29 February 2024 9:39 pm
USD/CAD slides after PCE data
The USD/CAD pair rose to an intraday high of 1.3597 before backsliding to 1.3541 after US Personal Consumption Expenditure Price Index (PCE) inflation figures printed exactly as markets were hoping. The pair is trading at 1.3583, up 0.06% at the time of writing.Annualized Canadian Gross Domestic Product (GDP) printed above …
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29 February 2024 7:42 pm
How have financial markets react to PCE reading?
After the announcement of the data, the dollar has stabilised in a relatively narrow range. The dollar appears reluctant to break free from the level in any direction, but it is currently trading up 0.05% at 103.969 after fluctuating about 104.00. The PCE data mostly matches expectations. Stocks are up …
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29 February 2024 5:17 pm
Oil Prices Steady as Investors Await US Data and OPEC+ Decision
Introduction: Market Stability Amidst Awaited Economic Indicators Oil prices stabilized on Thursday, with investors exercising caution ahead of anticipated US data releases that are expected to provide insights into interest rate expectations. Additionally, attention remains on the OPEC+ alliance’s decision regarding production cuts. Brent Crude Futures: April Contract Expires Brent …
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29 February 2024 3:26 pm
Turkey’s Economy Surpasses Expectations with 4.5% Growth in 2023
Turkey’s economy exceeded expectations in the fourth quarter of 2023, growing by 4.0 percent, surpassing forecasts despite challenges posed by a slowdown in major trading partners and the impact of devastating earthquakes in February. Full-year growth stood at 4.5 percent, buoyed by robust domestic demand. Fourth Quarter Performance: Resilience Amidst …
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29 February 2024 2:35 pm
Gold Prices Stabilize Ahead of Key US Inflation Data Release
Traders Exercise Caution Ahead of Crucial Economic Indicators Gold prices stabilized on Thursday as traders exercised caution, refraining from initiating new positions in anticipation of the release of significant inflation data in the United States later in the day. This data is expected to provide further insights into the Federal …
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29 February 2024 1:22 pm
European Stocks Rise Marginally Ahead of US Inflation Data
European Markets Show Modest Gains Amid Anticipation of Key Economic Data European stocks opened slightly higher on Thursday, with the STOXX 600 index edging up by 0.2 percent by 0820 GMT. Materials stocks led the gains as investors braced for the release of crucial US inflation data, which could provide …
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29 February 2024 12:10 pm
Nikkei Ends Lower on Profit-Taking, Yen Strength, and Foreign Selling
Japan’s Nikkei index experienced a modest decline on Thursday, as investors opted to capitalize on recent gains, leading to profit-taking activities. However, the index managed to recover from its early losses, supported by buying demand after dipping below the 39,000-point mark for the first time since late February. The yen’s …
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