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Market Analysis

October, 2023

  • 30 October 2023 6:08 am

    Financial Markets’ Weekly Recap

    Last week, the US dollar demonstrated remarkable resilience, propelled upwards by robust growth indicators in the United States and an escalating demand for safe-haven assets triggered by mounting geopolitical tensions in the Middle East. The Israeli army’s limited incursions into the Gaza Strip stirred renewed concerns, leading to a surge …

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  • 28 October 2023 1:18 am

    Japanese Yen celebrates softer US Dollar

    The Japanese Yen has seen a rebound ahead of the weekend, with the pair gaining strength against the US Dollar after Tokyo inflation data increased expectations that the Bank of Japan will tighten its monetary policy. The release of Tokyo CPI ex Fresh Food data in October saw the Yen …

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  • 27 October 2023 11:17 pm

    Could Inflation Trends Keep Fed Rate Hikes on Pause?

    September saw underlying price gains, but not enough to cause the central bank to hike interest rates the following week. The summertime decline in inflation slowed last month. However, recent improvements in inflation have allowed Fed policymakers to decide to keep interest rates unchanged at their meeting next week.The Fed’s …

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  • 27 October 2023 10:26 pm

    Gold prices surpass $2007 on geopolitical risks

    Gold price rallies to $2007.75 per troy ounce, bouncing back from daily lows of $1976.97. Escalating Middle East conflict and Israel military expanding its operations in Gaza.Gold price finally broke the $2000 troy ounce barrier on Friday amidst increasing geopolitical risks, as the conflict between Israel and Hamas is at …

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  • 27 October 2023 10:01 pm

    WTI crude oil swinging below $85

    WTI is seeing some back-and-forth for Friday. US Crude Oil barrels bounding between $85.00 and $83.00 per barrel. Oil markets remain concerned about Middle East tensions, but global slowdown hard to ignore.Crude Oil barrels are seeing some tension in the midrange on Friday, in play between $85.00 and $83.00 USD …

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  • 27 October 2023 8:56 pm

    US dollar tumbles on PCE figures for September

    Compared to its competitors, the US dollar is trading softly and appears to be consolidating its gains from the previous session. At 3.7% YoY, the Core PCE for September fell short of forecasts.US bond yields are fluctuating, and dovish Fed bets are still very popular. The FOMC decision is now …

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  • 27 October 2023 7:45 pm

    Middle East tensions, US core PCE keep gold price stable

    Gold price continued to consolidate after the US core PCE inflation reading remained in line with estimates. The downside in the gold price remains cushioned by escalating tensions in the Middle East.US Yellen sees Treasury yields elevated on Fed’s “higher for longer” interest rates outlook. Gold price trades back and …

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  • 27 October 2023 4:34 pm

    Amazon gains 6% after a ‘strong’ Q3 print

    Amazon exceeded Wall Street expectations in its third-quarter results, with notable growth in its cloud business and a substantial increase in advertising revenue. Following the report, Amazon’s stock rose 6% in pre-market trading. In Q3, Amazon reported earnings per share (EPS) of $0.94 on revenue totaling $143.1 billion, outperforming estimates …

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  • 27 October 2023 3:06 pm

    Dollar rises with a boost from strong US data

    The dollar rose on Friday and was heading for a third straight month of gains after data showed strong growth in the United States, indicating enhanced prospects for interest rates to remain high for a longer period. But the yen remained around the 150 level to the dollar before the …

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  • 27 October 2023 1:28 pm

    Oil rises more than a dollar amid fears of the expansion of the Middle East conflict

    Oil prices rose by more than a dollar on Friday as reports came in that the US military bombed Iranian targets in Syria, once again raising fears of a widening conflict between Israel and Hamas that could affect supplies from the Middle East. By 0638 GMT, Brent crude futures for …

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  • 27 October 2023 11:18 am

    Gold prices are heading for gains for the third week

    Gold prices are heading for gains for the third week in a row on Friday, as conflict in the Middle East leads to investors increasingly seeking safe havens, despite US interest rates remaining high for a longer period. By 0341 GMT, gold in spot transactions rose 0.1 percent to $1,986.76 …

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  • 27 October 2023 2:01 am

    Market Drivers – US Session, October 25

    The US economy expanded at an annualized rate of 4.9% during the third quarter, surpassing market consensus of 4.2%. The report also revealed a lower-than-expected core Personal Consumption Expenditure (PCE) price index, which increased demand for bonds. Other data showed a rise in Continuing Jobless claims to 1.79 million, reaching …

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  • 27 October 2023 1:41 am

    EUR/USD clears daily losses, downside more likely

    EUR/USD experienced a daily low of 1.0521 and recovered towards the 20-day SMA, around 1.0560. The Euro faced selling pressure after the ECB held rates steady, and Christine Lagarde acknowledged the Eurozone’s economic struggles. The USD gained momentum on strong Q3 GDP data, but lower US yields limited the upwards …

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