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Market Analysis

May, 2023

  • 8 May 2023 10:37 pm

    Fed Survey: Banks reported tighter standards and weaker demand for loans

    The US central bank released the April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices, which has become more relevant in the context of concerns about regional US banks. The survey results reflect the first quarter of 2023.According to the report, survey respondents reported, on balance, tighter standards …

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  • 8 May 2023 9:16 pm

    Fed’s Goolsbee: Will get critical data on credit conditions today

    On Monday, Chicago Federal Reserve Bank President Austan Goolsbee said that the Fed’s Senior Loan Officer Opinion Survey for the first quarter will provide critical information on credit conditions.“We should be extra-attuned to issues in bond market related to debt limit,” Goolsbee added.Regarding the Fed’s policy outlook, Goolsbee reiterated that …

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  • 8 May 2023 8:24 pm

    USD/CHF slides on risk aversion ahead of US CPI data

    The USD/CHF pair begins the week with minimal losses as risk aversion continues in the driver’s seat. US Wholesale inventories were unchanged in March, jumping 9.1% annually despite a first-quarter decline.Traders are eying the Fed’s Senior Loan Officer Survey alongside US inflation data. The USD/CHF pair commenced the week with …

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  • 8 May 2023 6:01 pm

    BoE: Bailey will break the Pound’s surge

    Regarding rising interest rates, that appears to be the thinking going through the minds of Bank of England (BoE) policymakers. Despite persistent inflation and salary increases, the “Old Lady” has predicted a downturn. Accordingly, the Bank of England is expected to raise borrowing prices at its forthcoming ‘Super Thursday’ event, …

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  • 8 May 2023 4:20 pm

    Futures edge higher, key inflation data awaited

    On Monday, U.S. stock index futures moved higher ahead of a crucial inflation report later this week that will be scrutinised to see if the Federal Reserve’s attempts to lower prices were working, while regional bank shares extended gains. PacWest Bancorp jumped 33% premarket after the business issued a quarterly …

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  • 8 May 2023 3:40 pm

    Oil is rising as recession fears begin to recede

    Oil prices rose on Monday as fears of a recession in the United States eased and shifted market focus to tight supply, supporting prices after they posted a weekly decline for three consecutive weeks for the first time since November. A better-than-expected US jobs report for April helped oil prices …

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  • 8 May 2023 2:46 pm

    Dollar is under pressure, ahead of US data

    Russia

    The dollar started this week’s trading under pressure on Monday as traders bet that it may have peaked along with US interest rates as they await the release of inflation and loan data this week. Sterling rose slightly on Monday and hovered around an 11-month high of $1.2652, with particular …

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  • 8 May 2023 1:24 pm

    Gold shines with anticipation of US inflation data

    Gold prices rose on Monday as the dollar weakened as investors await key US inflation data due this week that could influence the Federal Reserve’s monetary policy stance. Spot gold rose 0.2 percent at $2,020.80 an ounce by 0634 GMT. And US gold futures rose 0.2 percent to $ 2029.30. …

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  • 8 May 2023 12:04 pm

    Japan stocks closed lower amid a strong yen and concerns in the US banking sector

    Japanese stocks closed lower on Monday as investors sold stocks as the yen rose against the dollar and concerns about the US banking sector persisted. The Nikkei index fell 0.71 percent to 28,949.88 points, closing below the 29,000 level for the first time since April 28. The index hit its …

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  • 8 May 2023 10:51 am

    Oil is rising as recession fears begin to recede

    Oil prices rose slightly in early Asian trading on Monday as fears of a recession in the United States began to recede, after causing prices to fall for three consecutive weeks for the first time since November. Brent crude futures rose 6 cents to $75.36 a barrel by 0022 GMT. …

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  • 8 May 2023 2:39 am

    Financial Markets’ Weekly Recap, May 1-5

    The Fed delivered as expected on Wednesday by raising interest rates by 25 basis points and signaling a pause. However, renewed banking developments stole the headlines from the Fed and triggered a fresh wave of risk aversion, as well as bets of rate cuts during the second half of the …

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  • 6 May 2023 2:46 am

    Market Drivers – US Session 05/05/2023

    EUR/USD finished the week flat after the European Central Bank (ECB) meeting, where the ECB raised rates as expected. The pair approached 1.1100 but then pulled back. Although the correction was limited, it continues to trade sideways in the short term around 1.1000. USD/JPY had its worst week since March, …

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  • 6 May 2023 1:37 am

    Bitcoin retreats after robust US Nonfarm Payrolls

    Following the publication of the US Nonfarm Payrolls data for April, the price of bitcoin corrected in the shape of a sizable bearish engulfing candle on the five-minute price chart. After the jobs news came in hotter than anticipated, the risk asset saw a knee-jerk reaction from market players who …

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