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Market Analysis

January, 2024

  • 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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  • 18 January 2024 2:10 am

    Stocks decline on retreating rate bets post-retail sales report

    Wall Street stocks finished lower on Wednesday after upbeat December U.S. retail sales data eroded expectations the Federal Reserve will kick off its rate-cut campaign as early as March. The benchmark S&P 500, fell to its lowest in over a week. Amazon,, Nvidia, and Alphabet dipped between 0.5% and 1% …

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  • 18 January 2024 12:15 am

    Inflation Data, Lagarde’s Comments Rattle Global Stocks

    Global stocks and bond markets retreated on Wednesday as investors scaled back expectations of swift interest rate cuts in the eurozone, the UK, and the US. European Central Bank president Christine Lagarde signaled borrowing costs would come down in summer rather than spring, following the first rise in UK inflation …

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  • 17 January 2024 11:53 pm

    Gold retreats as fresh US data boosts US dollar

    Strong US Retail Sales figures and a spike in US Treasury yields have continued to drive down gold prices, which have lost more than 1.11% of their value. Gold’s decrease is partly due to the US Dollar Index’s upward trajectory, which reached a five-week high, and hawkish remarks made by …

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  • 17 January 2024 11:17 pm

    Fed’s Beige Book reveals economic activity decline in recent weeks

    The US economic activity showed “little or no change” in recent weeks for most of the Federal Reserve’s 12 districts, amid signs that the labour market was cooling in most of the country’s regions, the central bank said on Wednesday in its Beige Book survey of regional business contacts.Consumer spending …

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  • 17 January 2024 10:40 pm

    GBP/USD recovers on UK CPI despite strong US data

    GBP/USD surged by 0.25% as a result of the UK’s surprise 4% annual increase in inflation. GBP’s upside is limited by obstacles such as the moderate rate of cut by the Fed and the improvement in US retail sales. In contrast to the anticipated Fed rate decrease in March, the …

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  • 17 January 2024 9:19 pm

    JPMorgan CEO to clients: Don’t get involved in Bitcoin

    Bitcoin (BTC-USD) is a type of cryptocurrency that does nothing, said JPMorgan Chase CEO Jamie Dimon who said he would advise his clients not to get involved in Bitcoin (BTC-USD), or in any of the new ETFs that were approved last week.Those include Grayscale Bitcoin Trust (GBTC), Blackrock’s iShares Bitcoin …

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  • 17 January 2024 8:06 pm

    IMF: US economy has seen 75% of Fed hikes’ impact

    According to the International Monetary Fund, the US economy has already experienced about 75% of the effects of tighter monetary policy, with the rest expected to pass through this year. The Eurozone has more transmission to come due to interest rate hikes starting later. The US economy maintained stronger growth …

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  • 17 January 2024 5:12 pm

    Major banks expect China’s economic growth to slow in 2024

    Major global investment banks have collectively forecasted a slowdown in the growth of China’s economy in 2024 compared to its growth rate in 2023, which fell below market expectations. Here are the growth expectations for China in 2024 from various banks: JPMorgan (NYSE: JPM): Expects China’s growth to slow to …

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  • 17 January 2024 4:14 pm

    Annual inflation in the euro area rises to in December 2023

    Annual inflation in the euro zone increased to 9.2% in December 2023, marking a notable rise from its lowest level in over two years, which was 2.4% in November. This upward movement represents the first increase in inflation since April and is primarily attributed to energy-related base effects. Energy prices …

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