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Market Analysis

May, 2023

  • 22 May 2023 1:06 pm

    Stability of European stocks amid concerns about the US debt ceiling

    European stocks were little changed at the open on Monday, while concerns over an agreement on the US debt ceiling and the outlook for US and European monetary policies weighed on sentiment. The pan-European Stoxx 600 index settled after touching its highest level in more than a year on Friday. …

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  • 22 May 2023 11:40 am

    The Nikkei index closed higher for the eighth day

    The Japanese Nikkei index closed higher on Monday, extending its gains for the eighth consecutive session, at a time when investors continue to buy local stocks with discounted prices, amid optimism about companies’ efforts to enhance investor returns. The Nikkei index reversed course, jumping 0.9 percent to 31,086.82 points, its …

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  • 22 May 2023 1:13 am

    Financial Markets’ Weekly Recap, May 15-19

    After last week’s stalemate, US president Biden on Sunday said he believes he has the authority to use the 14th Amendment to unilaterally address the debt ceiling, but acknowledged potential legal challenges could still lead to default. He said he is looking at the 14th Amendment as to whether or …

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  • 19 May 2023 11:42 pm

    Gold eyeing $1980 resistance amid hawkish Fed language

    Gold climbs 0.89%, trading at $1975.05 per ounce at the time of writing, as the US dollar’s strength subsides, investors are now eyeing the $1980 resistance level.Fed Chair Jerome Powell’s comments and US Treasury Sec. Janet Yellen’s remarks on Friday were sufficient to shake the market, resulting in a significant …

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  • 19 May 2023 9:47 pm

    Crude oil prices retreats on debt ceiling stalemate

    After Republicans boycotted talks with President Biden over raising the debt ceiling, the price of oil reversed gains and fell on Friday. The US Dollar falls as demand for safe-haven assets declines as concerns over the debt ceiling ease; oil is primarily priced in USD. After House Speaker McCarthy left …

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  • 19 May 2023 8:45 pm

    Powell: Recent credit stress eases pressure to hike interest rates

    The recent banking crisis, which resulted in stricter lending regulations, has lessened pressure to raise interest rates, according to US Fed Chair Jerome Powell on Friday. “Our policy rate may not need to rise as much as it would have otherwise,” Powell continued. In relation to market expectations, Powell stated …

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  • 19 May 2023 7:46 pm

    Yellen to US bankers: More mergers may be necessary

    Treasury Secretary Janet Yellen told bank CEOs that more bank mergers may be necessary, CNN reported. The comments triggered risk aversion and weighed on the US Dollar. “Sources tell CNN that bank mergers were discussed during Yellen’s meeting with bank CEOs”, the network reported. The US Dollar extended losses across …

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  • 19 May 2023 4:14 pm

    German producer prices post smallest increase in two years

    According to statistics released on Friday, German producer prices rose at the weakest annual rate in two years in April, indicating that inflation in Europe’s largest economy may decline further. According to the Federal Statistical Office, producer prices for industrial items rose 4.1% in April compared to the same month …

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  • 19 May 2023 3:30 pm

    Dollar rises amid optimism about the US debt ceiling talks

    The dollar approached its highest level in nearly six months against the yen on Friday and pushed the euro to its lowest level in more than seven weeks, as optimism about government debt ceiling talks in Washington fueled expectations that US interest rates would remain high for longer. Democratic negotiators …

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  • 19 May 2023 2:10 pm

    Oil prices are rising as the risk of America defaulting on its debts recedes

    Oil prices rose on Friday, after falling more than 1 percent the day before, as investors cautiously optimized about the fading risk of a US debt default. Brent crude futures rose 73 cents, or 1 percent, to $76.59 a barrel by 0650 GMT, and US West Texas Intermediate crude rose …

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  • 19 May 2023 12:56 pm

    European stocks are rising and the German DAX is nearing a record high

    European stocks rose on Friday and pushed the German DAX index towards record highs, supported by indications of progress in the US debt ceiling negotiations. The pan-European Stoxx 600 advanced 0.4% by 0708 GMT, and is set to end the week with a slight gain. Mining and financial services stocks …

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  • 19 May 2023 11:21 am

    Nikkei index reaches the peak of the economic “bubble” era in Japan

    Japan’s Nikkei index rose on Friday to its highest level since August 1990, during what is known as the country’s economic “bubble” era, driven by a combination of positive factors such as strong earnings, an economy showing signs of recovery and optimism about US debt ceiling talks. The Nikkei index …

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  • 19 May 2023 10:17 am

    Gold is heading for its biggest weekly decline since February

    Gold prices rose on Friday, but headed for their largest weekly decline in three and a half months, as hopes that negotiations would reach a solution to the US government debt ceiling crisis and fading expectations of interest rate cuts by the end of the year led to a decline …

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