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Market Analysis

May, 2023

  • 17 May 2023 10:45 am

    Stability of gold amid concern about the negotiations to raise the US debt ceiling

    Gold prices were little changed on Wednesday, as investors worried about the protracted negotiations over raising the US debt ceiling, and the rise in the dollar also helped keep prices under control. Spot gold prices rose 0.1 percent to $1991.35 an ounce by 0455 GMT. US gold futures witnessed little …

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  • 17 May 2023 10:00 am

    Oil is falling on demand concerns after a sudden increase in US inventories

    Oil prices fell for a second day on Wednesday after a surprise rise in US crude inventories raised concerns about demand in the wake of weaker-than-expected economic data from the United States and China, the world’s two largest oil consumers. Brent crude futures fell 29 cents, or 0.4 percent, to …

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  • 17 May 2023 5:17 am

    Market Drivers – US Session – 16/05/2023

    Gold was subject to a sharp drop below $2,000, remaining under pressure and potentially testing the crucial support level of $1,970. Silver also lost ground, falling to $23.60. Crude oil prices retraced some of Monday’s gains, with WTI ending around $70.55. Cryptocurrencies also experienced losses; BTC/USD falling below $27,000 by …

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  • 17 May 2023 4:34 am

    What signals have Fed officials sent to market within 24H

    “Fed will have to stay ‘super strong’ in its inflation commitment,” said Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic while participating in a conference hosted by the Federal Reserve Bank of Atlanta. “Fed is ‘far beyond success’ on its employment mandate, a ‘bit of pulling back’ in the …

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  • 17 May 2023 12:38 am

    Stocks mixed amid debt-ceiling talks, retail sales data

    Wall Street is watching for signs of movement in the debt-ceiling impasse, with a meeting between President Joe Biden and House Speaker Kevin McCarthy set for Tuesday afternoon in Washington.US stocks were mixed during midday trading on Tuesday as investors digested fresh economic data and focused on negotiations over the …

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  • 16 May 2023 11:39 pm

    Oil retreats on dimmed demand outlook after China, US data

    Oil futures retreated on Tuesday as weaker-than-expected economic data in China and the United States counterbalanced a forecast of higher global demand from the International Energy Agency. Brent crude futures settled 32 cents lower to $74.91 a barrel and US crude edged down 25 cents to $70.86. Chinese data showed …

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  • 16 May 2023 10:46 pm

    Home Depot’s Q1 earnings send warning signs for US retailers

    Retail Sales

    Home Depot’s weak Q1 earnings send warning signs for other retailers. The revised prediction for Home Depot shows that even more affluent Americans who own homes have started to be frugal with their money. Target and other retailers who report in the upcoming weeks may be worse off due to …

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  • 16 May 2023 9:42 pm

    Gold falls amid high US bond yields

    Gold prices fall 1.48% as US economic data showcases resilience, led by strong retail sales and industrial production figures. Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices; trading at $1985. 76 per ounce at the time of writing. Upcoming …

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  • 16 May 2023 8:31 pm

    AUD/USD slides after RBA’s minutes, weaker Chinese data

    The AUD/USD pair falls 0.62% as US economic data remains strong, while weaker-than-expected Chinese data weighs on the Australian Dollar.Hawkish remarks from Federal Reserve officials and concerns over “unacceptably high inflation” keep the US Dollar well-supported in the North American session. The Reserve Bank of Australia minutes show potential for …

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  • 16 May 2023 7:34 pm

    Most cryptos fall as Bitcoin holds above the $27,000 mark

    The price of one bitcoin on Tuesday was $26,985 for most of the trading day, and it appeared that the crypto currency was gradually beginning to recover. Bitcoin is trading at $27,020.28 at the time of writing. The cost of the most expensive cryptocurrency in the world dropped from $27,180 …

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  • 16 May 2023 4:42 pm

    US Retail Sales rise 0.4% in April

    The US Census Bureau reported on Tuesday that retail sales in the United States increased 0.4% in April to $686.1 billion. This report follows a 0.7% (updated from -0.6%) fall in March and fell short of the 0.7% gain expected by the market. In the same period, Retail Sales ex-Autos …

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  • 16 May 2023 2:47 pm

    German ZEW Economic Sentiment Index declines in May

    The German ZEW headline figure revealed that the Economic Sentiment Index fell substantially in May, falling to -10.7 from 4.1 in April, falling short of the market forecast of -5.5. Meanwhile, the Current Situation Index rose to -34.8 from -32.5, above the market forecast of -37.5. During the same time …

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  • 16 May 2023 1:44 pm

    Automotive and mining stocks lead losses in European markets

    European stocks fell on Tuesday, affected by losses in automakers and mining stocks after weak data from China fueled fears of a slowdown in the Chinese economy and while investors await more economic data from the euro zone. The European Stoxx 600 index fell 0.2 percent, and most of the …

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