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Market Analysis

January, 2024

  • 19 January 2024 3:50 am

    What are year-end bonuses telling about US economy?

    US workers are receiving smaller cash bonuses this year, indicating that employers are less concerned about losing talent than in recent years. The average cash bonus paid to employees last month was $2,145, down 21% from the previous year, according to payroll software company Gusto. Every industry posted a decline, …

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  • 19 January 2024 1:43 am

    Gold price climbs on high safe haven demand

    As of this writing, the price of gold has increased by +0.85 to around $2023 per ounce, indicating that investors are still waiting for more information regarding the US Federal Reserve’s future course for interest rates.High demand for safe haven assets during the Middle East crisis has helped gold. It …

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  • 19 January 2024 12:07 am

    Swiss Franc turns sharply bearish after SNB Chief’s warning

    The Swiss Franc is experiencing one of its worst weeks in over one year, with concerns mounting that the strength of the Swiss Franc could hamper policy transfer. The Swiss National Bank Chairman Thomas Jordan warned that an appreciating Franc could harm the Swiss economy, sending inflation rapidly lower. The …

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  • 18 January 2024 10:52 pm

    Apple leading Nasdaq’s surge

    Apple

    Tech companies, particularly Apple, have significantly boosted the US stock market; leading the Nasdaq Composite and reversing most of its early 2024 losses. The tech-heavy Nasdaq jumped 0.6%, while the S&P 500 climbed 0.1%.Apple shares increased by over 2% after Bank of America upgraded the stock to buy, calling for …

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  • 18 January 2024 10:04 pm

    US bond yields continue to rise

    US Treasury bond yields have continued to surge since the beginning of daily trading on Thursday, driven by the improvement shown by data that highlighted an improvement in the housing sector as well as in the labour market in the United States.Ten-year US Treasury bond yields rose to 4.140% compared …

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  • 18 January 2024 9:14 pm

    ECB talking points drag Euro lower as investors rebalance their positions

    The Euro declines versus the majority of its major currency peers as most Euro investors adjusted their position. Both the Federal Reserve and the European Central Bank have made a major verbal effort to dampen market expectations for a faster rate-cutting pace. Both European and American policymakers issue a warning, …

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  • 18 January 2024 8:01 pm

    Canadian dollar back to familiar levels amid focus on significant data

    The Canadian dollar is trading at relatively stable levels, with broad-market flows leading the way in the latter part of the trading week. Although the Canadian currency has generally appreciated this week, it is still weaker than the US dollar, which has outperformed since Monday’s opening bids.Canada will see Retail …

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  • 18 January 2024 7:03 pm

    US sanctions companies shipping commodities for Iran

    The Department of the Treasury sanctioned two companies this month for secretly exporting Iranian commodities on behalf of the Islamic Revolutionary Guard of Iran. The companies, one based in China and the other in the United Arab Emirates, forged documents for four commercial vessels, allowing them to traverse international waters …

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  • 18 January 2024 3:09 pm

    Maersk: bottlenecks due to bad weather in Europe and disturbances in the Red Sea

    In a recent client update, A.P. Moller-Maersk highlighted the adverse impacts of weather disruptions in northern European ports and the rerouting of ships away from the Red Sea. The company cited bottlenecks at container receiving berths due to these factors. Vessels were redirected from the Red Sea and the Gulf …

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  • 18 January 2024 1:35 pm

    Dollar is near the highest level in a month as interest rate cut bets decline

    The dollar maintained its position near a one-month high against major currencies on Thursday, supported by robust US retail sales data that reinforced expectations of a more measured approach to interest rate cuts by the Federal Reserve. The dollar index, gauging the greenback against a basket of six major currencies, …

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  • 18 January 2024 12:49 pm

    Oil prices rise thanks to OPEC demand forecasts and cold weather affecting US production

    Oil prices experienced an increase on Thursday, buoyed by OPEC’s optimistic forecast for robust global oil demand growth over the next two years. Brent crude futures rose by 28 cents to reach $78.16 per barrel, while US West Texas Intermediate crude futures increased by 34 cents, reaching $72.90. According to …

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  • 18 January 2024 11:51 am

    Gold rises as the dollar declines and Treasury yields fall

    Gold prices rose on Thursday against the backdrop of a decline in the dollar and a decline in US 10-year Treasury bond yields, but remained near their lowest levels in five weeks as investor optimism about cutting interest rates faded after tough comments from a Federal Reserve official and strong …

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  • 18 January 2024 2:19 am

    Market Drivers – US Session, Jan. 17

    The USD Index (DXY) reached a new yearly high in due to adjusted expectations of a rate cut by the Fed in March. This was in line with an additional narrative that suggested the ECB also could hold off on cutting rates until the summer, which ultimately seems to have …

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