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Market Analysis

August, 2023

  • 31 August 2023 1:48 pm

    European stocks rise at the opening

    European stocks rose at the open on Thursday, and the financial sector received support from the shares of the Swiss bank UBS after the bank’s decision to acquire its local competitor, Credit Suisse, while investors awaited a set of important economic data to be issued later on Thursday. By 0710 …

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  • 31 August 2023 12:43 pm

    Japan’s Nikkei index rises supported by auto stocks

    Japan’s Nikkei index rose for the fourth consecutive session on Thursday as investors returned to buying distressed growth-related stocks, while Toyota Motor shares led the auto sector higher after announcing record monthly global sales. The Nikkei rose 0.88 percent to close at 32,619.34 points, and the broader Topix index rose …

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  • 31 August 2023 11:30 am

    Euro jumps on inflation and dollar under pressure ahead of jobs data

    The euro held at a 15-year high against the yen on Thursday thanks to signs of continued inflation in Europe, while the dollar came under pressure ahead of consumption, inflation and jobs data that may provide new evidence of slowing economic growth. Data on Wednesday showed that the annual inflation …

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  • 31 August 2023 10:53 am

    Gold is near a one-month high ahead of US inflation data

    Gold prices rose to near one-month highs on Thursday as a new batch of weak US data reinforced expectations for a pause in interest rate hikes this year, although inflation readings released later on Thursday may revise those expectations. By 0331 GMT, spot gold rose 0.2 percent to $1,945.40 per …

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  • 31 August 2023 2:16 am

    Market Drivers – US Session, August 30

    Gold rose for the third consecutive day, encountering resistance below $1,950. Lower yields and a weaker Dollar provided support for the precious metal. Silver reversed after reaching $25.00 and closed marginally lower at $24.60.The US Dollar Index fell for the third consecutive day, reaching the lowest close in two weeks, …

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  • 31 August 2023 2:04 am

    Gold gains amid weaker US data

    With a three-day winning streak near $1,942 and almost 1.50% daily gains. The US reported weaker labour market figures, with ADP Employment Change increasing by 177,000 employed people, lower than expected.Jerome Powell emphasized restrictive monetary policy until cooling trends show a cooling trend. The US bond yields decreased to 4.88%, …

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  • 31 August 2023 1:51 am

    How will US dollar react to PCE, NFP data?

    Core PCE

    A significant data week is coming up with the release of the most recent PCE inflation estimates on Thursday and the August NFP report on Friday, which will signal the end of the summer. At 12:30 GMT, both reports will be made public. Following Fed Chair Jerome Powell’s speech on …

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  • 30 August 2023 11:43 pm

    Euro benefits from lower than expected US jobs data

    Despite poor US GDP and employment market data, the EUR/USD pair is up 0.38 percent, suggesting that the Fed may delay raising interest rates. In addition to strengthening the Euro, the US Dollar Index declines to 103.187 as US Treasury note yields also retreat.German HICP surpasses expectations, supporting the Euro …

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  • 30 August 2023 10:39 pm

    AUD/USD threatens 0.6500 as the US labour market softens

    The AUD/USD pair increased at 0.6490 and then held above the 0.6473 20-day SMA. At the time of writing, it is trading at 0.6474. Investors wager on a less aggressive Fed because the US labour markets are still weak. US bond yields hit a three-week low.The AUD/USD gained momentum on …

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  • 30 August 2023 9:33 pm

    US stocks surge as recent data refuels hopes on Fed’s pause

    The major Wall Street indexes rose on Wednesday as new economic data revealed a slowing US economy, maintaining predictions that the Federal Reserve will hold off on raising interest rates in September. In August, private payrolls expanded by 177,000 jobs, versus predictions of 195,000, according to the ADP National Employment …

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  • 30 August 2023 8:48 pm

    Bitcoin traders favour caution ahead of PCE data

    Bitcoin

    As traders look forward to the release of US Core PCE Price Index data on August 31, the price of bitcoin is fluctuating around $28,000. It is trading exactly at $27,247 at the time of writing. According to the general view, Core PCE inflation will increase by 0.1% and register …

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  • 30 August 2023 7:36 pm

    Sterling soaring on accelerating hawkish BoE bets

    Investor expectations that the following policy divergence between the Fed and the BoE will end have given the British pound a boost. Investors continue to support the GBP/USD pair as they anticipate further interest rate increases from the BoE. The UK’s manufacturing industry and real estate market have suffered greatly …

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  • 30 August 2023 4:44 pm

    US private sector employment rises 177,000 in August

    According to data released on Wednesday by Automatic Data Processing (ADP), private-sector employment in the United States increased by 177,000 in August. This result came in below the market expectation of 195,000 and following a 371,000 increase (revised from 324,000) in July. “Job stayers saw a year-over-year pay increase of …

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