Turkey’s annual inflation fell to 39.59 percent in May, official data showed on Monday, largely in line with expectations for the month of elections that re-elected President Tayyip Erdogan. Consumer prices in May rose 0.04 percent from the previous month, compared to expectations for a 0.2 percent decline in a …
Read More »Weekly market wrap: FOMC minutes are looming amid trade fears
Three things dictated price action in financial markets last week, including reaching a trade deal b…
EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Market Analysis
June, 2023
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5 June 2023 11:40 am
Oil rose more than a dollar after Saudi Arabia announced its intention to cut production further
Oil prices rose by more than $1 a barrel on Monday after Saudi Arabia, the world’s largest oil exporter, pledged to cut production by an additional 1 million barrels per day from July 1, as it tackled the unfavorable macroeconomic conditions that dampened markets. Brent crude futures rose $1.08, or …
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5 June 2023 4:59 am
Financial Assets’ Weekly Recap, May 29 – June 2
Financial assets’ price moves along past week have been led by a number of major developments most notably: the US non-farm payrolls data shortly after the US debt ceiling deal, as well as the European inflation data.Oil Prices Hope For More Optimism Oil prices rallied for the second day on …
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3 June 2023 3:45 am
Market Drivers – US Session – 02/06/2023
Dow jumped 700 points on the US hot jobs report as Nasdaq notched sixth straight winning week. The Dow Jones Industrial Average surged for its best day since January as traders cheered a strong jobs report and the passage of a debt ceiling bill that averts a US default.shares popped …
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3 June 2023 12:41 am
Gold price falls on NFP data, spiking T-yields
Gold price has dropped despite the week’s strong performance in an expected reaction to US job growth that exceeded expectations for May 2023.Rising US Treasury bond yields as well as the robust USD do exert downward pressure on the precious metal. US debt-ceiling resolution contributed to easing bond yields, a …
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2 June 2023 11:25 pm
Fed Chair to testify before Senate June 22
Fed Chair Jerome Powell will testify at the U.S. Senate Banking Committee on June 22, panel chief Sherrod Brown said on Friday. The testimony will come a week after the June 13-14 FOMC meeting. The testimony marks the second iteration of the Fed chair’s twice-yearly reports to Congress on the …
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2 June 2023 10:44 pm
NFP could bring about one more hike in June
Data released on Friday, showed Nonfarm Payrolls rose by 339K in May surpassing expectations. Analysts point out payroll strength keeps the door open for another rate hike by the Federal Reserve in June. The two-month net revisions also added a notable 93k jobs to the employment series, which resulted in …
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2 June 2023 9:48 pm
Oil prices rally for second day after debt-ceiling bill
Oil prices have rallied for the second day on Friday as global markets breathe a sigh of relief after the US Senate votes through the debt-ceiling extension bill, vaulting the final hurdle prior to implementation. The possibility of OPEC+ announcing more production cuts at its June 4 meeting further supports …
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2 June 2023 8:40 pm
How has US dollar reacted to NFP data?
The US Dollar rebounds on impressive US jobs report for May. The American currency managed to stage a modest rebound following Thursday’s selloff.The US Dollar Index stays below 104.00 and looks to snap a three-week winning streak. It registers 103.982 at the time of writing. Impressive May jobs data from …
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2 June 2023 7:41 pm
USD/CAD drops on stronger Canadian dollar despite positive NFP data
The US has added 339K jobs in May, beating estimates, but the USD/CAD pair stays relatively hot. The Canadian dollar gains momentum on a 1.70% surge in WTI crude oil prices. Uncertain Fed rate hike path in July overshadows USD’s future trajectory.The USD/CAD pair registers modest losses after an outstanding …
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2 June 2023 4:50 pm
US Nonfarm Payrolls rise 339,000 in May
The US Bureau of Labor Statistics (BLS) reported on Friday that Nonfarm Payrolls rose 339,000 in May. This reading surpassed the market expectation of 190,000 by a wide margin. April’s reading of 253,000 also got revised higher to 294,000. The Unemployment Rate climbed to 3.7% from 3.4% in the same …
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2 June 2023 3:47 pm
Dollar is falling on expectations that the US interest rate will not be raised this month
The dollar is on track for its biggest weekly loss since mid-January on Friday, with investors predicting that the Federal Reserve will not raise interest rates this month, undermining appetite for the greenback among buyers of other currencies. The US Senate’s approval of a bill to suspend the debt ceiling …
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2 June 2023 1:44 pm
European stocks rose amid optimism after the approval of the US debt ceiling legislation
European stocks rose on Friday, led by mining and real estate stocks, as investors breathed a sigh of relief after the US Congress approved the debt ceiling bill and signs the Federal Reserve may pause its rate hike cycle later this month. The pan-European Stoxx 600 index was up 0.5% …
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