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Market Analysis

March, 2023

  • 31 March 2023 2:25 pm

    Turkey’s trade deficit rises 51.4% in February

    Data published by the Turkish Statistical Institute on Friday showed that the country’s foreign trade deficit rose 51.4 percent in February on an annual basis to $12.08 billion, after imports jumped 10.1 percent. The data showed that imports amounted to 30.71 billion dollars, while exports fell 6.4 percent to 18.64 …

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  • 31 March 2023 1:48 pm

    Eurozone Preliminary HICP inflation declines in March

    The most recent information released by Eurostat on Friday revealed that the annualised Harmonized Index of Consumer Prices (HICP) for the Eurozone decreased to 6.9% in March from 8.5% in February. The market anticipated a decrease in the inflation rate to 7.1% for the reporting period. Contrary to expectations of …

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  • 31 March 2023 12:54 pm

    Nikkei rises and records the best weekly performance in two months

    Japan’s Nikkei index rose on Friday, the last trading day of the country’s fiscal year, and recorded its best week in two months after easing fears of a banking crisis and a weaker yen boosted investor sentiment. The Nikkei ended Friday, up 0.93 percent, at 28,041.48 points, to remain above …

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  • 31 March 2023 11:57 am

    Gold is heading for the best monthly performance since July 2020

    Gold prices rose on Friday, heading to record the best monthly performance since July 2020, as the banking system crisis led to the expectation that the Federal Reserve (the US Central Bank) would temporarily stop raising interest rates, which makes the yellow metal more attractive. By 0321 GMT, spot gold …

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  • 31 March 2023 3:59 am

    Market Drivers – US Session 30/03/2023

    Oil futures turned bullish on Thursday’s US session, driven by the improvement in risk appetite and the emergence of expectations that OPEC + will keep its production policy unchanged, adopting the same levels of increased production. US oil futures rose to $74.24 a barrel, compared to the previous daily closing …

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  • 31 March 2023 2:58 am

    Gold Benefits from Thursday’s Softer US Dollar

    A lower US dollar and predictions of falling interest rates have helped to support the price of gold. The US Dollar index was down 0.4% at 102.20, making gold prices denominated in dollars more appealing. On Thursday, XAU/USD fluctuated between a low of $1,955 and a high of $1,984.36 before …

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  • 31 March 2023 2:38 am

    EUR/USD defends 1.0900 ahead of German Retail Sales

    The EUR/USD pair has held onto and defended the 1.0900 support as investors see more rate hikes from the ECB. Solid wage growth and labor shortage led to a jump in monthly German inflation. The EUR/USD pair is trading at 1.0903 at the time of writing.S&P500 futures continued their upside …

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  • 31 March 2023 12:50 am

    GBP/USD surges towards the psychological 1.24 level

    The 1.24 region is the target for the bulls in the GBP/USD market. The most important US inflation data will be released on Friday for traders. The GBP/USD exchange rate was last up 0.65% at 1.2391 after fluctuating between a low of 1.2293 and a high of 1.2392. at the …

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  • 31 March 2023 12:33 am

    Dow jumps more than 100 points on easing banking fears

    With a gain of 0.57%, the S&P 500 finished at 4,050.83. The broad market index reached its highest point since March 7 throughout the day. The Nasdaq Composite rose 0.73% to close at 12,013.47 as investor interest in tech equities remained high. To close at 32,859.03, the Dow Jones Industrial …

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  • 30 March 2023 10:43 pm

    US stocks make biggest moves midday

    US stocks pared back a rally as investors digested a round of comments from Federal Reserve officials suggesting more monetary tightening was needed to fight inflation even in the wake of turbulence in the banking sector. The S&P 500’s advance withered to 0.3% with financials again under pressure, while the …

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  • 30 March 2023 9:21 pm

    USD/CAD slips as risk appetite improves

    The USD/CAD pair approaches the 100-day EMA at 1.3520, yet shy of testing it. The US Bureau of Labor Statistics (BLS) reveals unemployment claims rise above estimates. The USD/CAD pair stumbles below the 50-day Exponential Moving Average (EMA) spurred by a risk-on impulse, as shown by Wall Street opening in …

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  • 30 March 2023 7:23 pm

    China-driven growth boost emerging assets despite bank worries

    When markets in the US and Europe are shaken by banking instability, a stronger Chinese-led growth in emerging markets will likely protect the equities, bonds, and currencies of many developing countries. But, weeks of market volatility brought on by bank collapses, rescues, and emergency government intervention could impact weak emerging …

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  • 30 March 2023 5:25 pm

    US: Real GDP grows at an annual rate of 2.6% in Q4

    The US Bureau of Economic Analysis (BEA) released its final estimate on Thursday, revealing that the US real Gross Domestic Product (GDP) increased at an annualised rate of 2.6% in the fourth quarter. This number was below than the 2.7% market forecast as well as the prior estimate. “The revision …

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