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Market Analysis

October, 2023

  • 6 October 2023 7:54 pm

    Gold recovers despite strong NFP data

    Despite solid labour demand, gold prices have sharply recovered, raising anticipation for another Fed interest rate hike. Despite a weak US Services PMI survey and a weak ADP Employment report this week, the price of the precious metal remained under pressure. At the time of writing, the precious metal is …

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  • 6 October 2023 5:17 pm

    US Nonfarm Payrolls rise in September

    Nonfarm Payrolls (NFP) in the United States increased by 336,000 in September, according to the US Bureau of Labour Statistics (BLS) on Friday. This reading was significantly higher than the market forecast of 170,000. The 187,000 increase in August was also raised higher to 227,000. The unemployment rate stayed at …

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  • 6 October 2023 4:26 pm

    Russia lifts the ban on most diesel exports

    On Friday, October 6, the Russian government lifted the ban on diesel exports via seaborne pipelines, removing most of the restrictions that were implemented on September 21. Restrictions applied to gasoline exports remain in place. Diesel is the largest portion of Russia’s exports of petroleum products, amounting to about 35 …

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  • 6 October 2023 2:35 pm

    European stocks continue to rise ahead of US jobs data

    European stocks rose on Friday ahead of data expected to reflect moderate US job growth last month, relieving some pressure on equity investors concerned about higher interest rates. By 07:18 GMT, the European STOXX 600 index rose 0.4 percent, recording an increase for the second session in a row, but …

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  • 6 October 2023 1:33 pm

    Nikkei closes lower as shares of chip-related companies decline

    Japan

    The Nikkei index closed lower on Friday, weighed down by a decline in technology stocks, as investors awaited the US jobs report later in the day for signs of whether the Federal Reserve will change course on interest rates. The Nikkei index fell 0.26 percent to 30,994.67 points. The index …

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  • 6 October 2023 11:38 am

    NFP Preview: Forecasts from major banks

    The US Bureau of Labour Statistics (BLS) will release the September jobs report on Friday, October 6 at 12:30 GMT, and as the day approaches, here are the projections for the upcoming employment statistics from 4 major banks’ economists and researchers. Nonfarm payrolls are expected to rise by 170K in …

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  • 6 October 2023 12:45 am

    Market Drivers – US Session, NFP’s Eve

    The US jobs report on Friday will be a major factor in determining the direction of the US dollar. There will be a 170,000 increase in nonfarm payrolls, and the unemployment rate will drop from 3.8% to 3.7%. A strong report might support the Dollar’s recovery, while weak numbers, consistent …

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  • 6 October 2023 12:31 am

    US stocks steady amid NFP countdown

    US stocks have shown relatively steady performance as investors await the September jobs report. Wall Street stocks recovered ground on Thursday, finishing just below the flatline after breaking a three-day losing streak on Wednesday. The S&P 500 and the tech-heavy Nasdaq Composite were down a modest 0.1%. A pullback in …

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  • 5 October 2023 11:52 pm

    NFP data expected to lose momentum

    On October 6 at 12:30 GMT, the US Bureau of Labour Statistics will release its employment report for September. Major bank economists and researchers anticipate that nonfarm payrolls will rise by 170K in September, down from 187K in August, and that the unemployment rate would drop down to 3.7%. Earnings …

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  • 5 October 2023 11:35 pm

    USD/JPY pair is trying to recover ahead of NFP

    The USD/JPY pair is trying to recover after falling to a level around 148.40. A cautious increase in overall market risk appetite is restraining US Dollar gains in response to positive data.After Tuesday’s enigmatic chart spike, the Yen has been trading slowly. The USD/JPY began trading on Thursday, rising as …

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  • 5 October 2023 10:37 pm

    EUR/USD extends upward trend ahead of NFP data

    Officials at the ECB alternately play down the prospect of future rate increases. On Thursday, the EUR/USD was moving higher, stretching for 1.0550 ahead of the end-of-week release of US non-farm payroll data. At the time of writing, the pair is trading at 1.0548.As ECB policymakers continue to downplay the …

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  • 5 October 2023 9:34 pm

    Is China’s economy showing signs of stabilization?

    Exporters are battling diplomatic sensitivities, visa problems, and a determination to lessen dependence on China as the country’s economic recovery becomes a worldwide worry. Chinese exporters are looking into the US market’s potential and hoping to make it their main source of production orders. Despite the uneven economic recovery, the …

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  • 5 October 2023 8:22 pm

    ECB’s Villeroy sees additional rate hike unjustified

    “We’ve seen positive inflation data and a concurrent rise in long-term rates. Although it might be deemed excessive, it aids in tightening financial conditions for the European economy, according to ECB policymaker Francois Villeroy de Galhau, who made the statement on Thursday.Villeroy continued, “So today, I don’t think an additional …

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