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Market Analysis

April, 2024

  • 26 April 2024 3:13 am

    Market Drivers; US Session, April 25

    Before Friday’s release of PCE data, the USD Index (DXY) had already fallen to multi-day lows due to depressing GDP readings and higher inflation prints. This continued downward bias harmed the US Dollar. With rising yields and a prevailing appetite for risk, the USD Index (DXY) returned to the mid-105.00s. …

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  • 26 April 2024 1:41 am

    Will Eurozone’s Prices Impose Bumpy Road Ahead for ECB?

    The Eurozone’s recovery from the recent downturn is largely due to the growth of the service sector, which has seen job creation accelerate. However, the region faces challenges in meeting the European Central Bank’s 2% target due to persistently high service prices driven by wages. The EU’s decision to stop …

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  • 25 April 2024 11:13 pm

    Dow Jones stumbles amid still hot inflation

    The Dow Jones fell over 500 points on Thursday due to inflation complications and missed US GDP figures. The slowing growth is a positive for investors seeking an accelerated path towards rate cuts from the Federal Reserve, but sticky inflation continues to vex hopes for an early Fed rate trim. …

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  • 25 April 2024 10:19 pm

    What to Expect from Looming PCE Report?

    Core PCE

    March is likely to see the Fed’s Personal Consumption Expenditures (PCE) index stay stubbornly high, since inflation has exceeded forecasts in every month this year but one. This further complicates forecasting. Fed officials have stated that before the central bank lowers interest rates, they need further assurance that inflation is …

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  • 25 April 2024 9:54 pm

    Treasury yields rise after inflation data

    US Treasury yields continued to rise since the beginning of daily trading on Thursday, with a boost from inflation readings that highlighted the continued rise in consumer prices in the United States.The reading of the Personal Consumption Expenditures Price Index (QoQ)(Q1), which is one of the links in a series …

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  • 25 April 2024 9:23 pm

    US dollar records mild gains following GDP, jobs data

    The US Q1 GDP shows a slower growth rate of 1.6% YoY. Positively, there is a solid weekly trend in jobless claims. The short-term direction of DXY will be determined by Friday’s PCE data for March. After its lengthy surge in April, the US Dollar Index (DXY) is seen trading …

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  • 25 April 2024 8:09 pm

    Gold price steadies as GDP data influences interest rate outlook

    Gold price has maintained intraday gains above $2,300 amid higher US Q1 GDP inflation. Gold is trading at $2330.36 per ounce at the time of writing, with gains surpassing +0.65%.The Fed will maintain the “higher for longer” interest rates argument, and the easing of tensions in the Middle East has …

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  • 25 April 2024 6:14 pm

    US economic growth slows more than expected in Q1

    The US economy is expected to have maintained solid growth in the first quarter of the year, albeit at a slightly slower pace, while inflation likely picked up speed. This reinforces market expectations that the Federal Reserve will postpone interest rate cuts until September. The Commerce Department’s report on first-quarter …

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  • 25 April 2024 3:31 pm

    Gold rises before the announcement of US economic data

    Gold prices rose on Thursday with a decline in the dollar, while investors focused on US economic data for clues on the path the Federal Reserve (US central bank) will take regarding interest rates. Gold in spot transactions increased 0.3 percent to $2,324.10 per ounce by 0752 GMT. But US …

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  • 25 April 2024 2:11 pm

    Oil is stable as the market is affected by US demand concerns and the Middle East conflict

    Oil prices saw little change on Thursday amid a decline in fuel demand in the United States, the world’s largest oil consumer, coupled with concerns over a potential escalation of conflict in the Middle East. Brent crude futures edged up nine cents to $88.11 a barrel by 0420 GMT, following …

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  • 25 April 2024 1:19 pm

    European stocks decline amid mixed corporate profits

    European stocks fell on Thursday after mixed earnings from major companies such as Nestle and Deutsche Bank. The European STOXX 600 index fell 0.24 percent by 0745 GMT, affected by losses in the food, beverages and industrial goods sectors. Technology stocks were under pressure after disappointing revenue expectations from the …

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  • 25 April 2024 12:42 pm

    Gold falls under pressure from a profit-taking wave

    Gold prices experienced a decline on Thursday as investors opted to take profits following a sustained uptrend in the precious metal. Additionally, pressure from investment institutions seeking to raise liquidity contributed to the downward movement. Attention shifted towards data on the US economy to gauge indications of the Federal Reserve’s …

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  • 25 April 2024 6:54 am

    What will Spinney’s achieve from its IPO on Dubai Stock Exchange?

    Spinney’s in the UAE and Oman, giant retail series, is planning to obtain financing worth $375 million through an initial public offering of about 25% of its shares, per Reuters.The indicative price per share ranges from 1.42 UAE dirhams to 1.53 UAE dirhams, which may result in financing that may …

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