EUR/USD is about 0.70% up, trading at 1.0427 at the time of writing. Earlier on Friday, the EUR/USD pair has rebounded above 1.0400 in the North American session after posting a three-week low near 1.0340 in Asian trading hours. The major currency pair’s growth in the US Personal Consumption Expenditures …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
December, 2024
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21 December 2024 12:19 am
Explainer: Why Does Latest EIA’s Report Matter for Energy Markets?
The recent report from the US Energy Information Administration (EIA) revealed a smaller-than-expected drawdown in U.S. commercial crude oil inventories, casting a shadow on expectations of a more significant decline. While stocks did decrease by 900,000 barrels, this figure fell short of the anticipated 1.7 million barrels, a discrepancy that …
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20 December 2024 11:54 pm
As Inflation Cools, US Stocks Surge
The US stock market experienced a significant rally on Friday, fueled by a cooler-than-expected inflation report. This positive news provided a much-needed respite for investors grappling with the looming threat of a government shutdown and recent uncertainty surrounding the Federal Reserve’s monetary policy.The Commerce Department’s report revealed that the Personal …
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20 December 2024 10:47 pm
Crypto Market Reeling following Dampened Rate Cut Expectations, Bitcoin Falls Below $100,000
The cryptocurrency market has experienced a significant downturn, with Bitcoin plunging below $100,000, trading at the time of writing at only $97,173, down some -0.23 on the day, and other major tokens suffering even steeper losses. This sharp correction coincides with a shift in the Federal Reserve’s monetary policy stance, …
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20 December 2024 9:32 pm
Will AI Bubble Burst in 2025?
2024 has been a year of unprecedented growth for Wall Street, fueled by a confluence of factors, most notably the artificial intelligence (AI) revolution. AI stocks, led by giants like Nvidia, have soared, capturing investor imagination with the promise of transformative technological advancements. However, the current euphoria surrounding AI may …
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20 December 2024 8:43 pm
Extensive Efforts to Avert a US Government Shutdown Before Midnight
US House Speaker Mike Johnson will attempt to pass what is known as a “temporary plan” later on Friday, involving a funding bill for the federal government at current debt levels. This plan includes certain provisions aimed at garnering public support and avoiding the US from suspending its debt ceiling …
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20 December 2024 7:38 pm
PCE DaExplainer: Cooling Inflation Offers Glimmer of Hope, But Fed Remains Cautious
The latest inflation data provides a glimmer of hope in the ongoing battle against rising prices. The Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed a modest increase of 0.1% in November, translating to an annual rate of 2.4%. This reading, while still above the …
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20 December 2024 4:05 pm
Russian Central Bank Keeps Rates Steady at 21%, Defying Market Expectations
The Russian Central Bank surprised markets on Friday by maintaining its key interest rate at 21%, contrary to widespread expectations of a 2-percentage-point hike. Analysts had anticipated a rate increase to 23%, but the bank justified its decision by citing the effectiveness of recent tightening measures in curbing inflationary pressures. …
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20 December 2024 1:51 pm
Gold Prices Struggle Amid Hawkish Fed Outlook and Strong Dollar
Gold prices held near a one-month low in Asian trade on Friday, heading for their third consecutive weekly loss as the Federal Reserve’s slower-than-expected rate cut projections for 2025 weighed on investor sentiment. Gold Performance Spot gold edged up 0.1% to $2,596.82 per ounce, while Gold futures for February delivery …
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20 December 2024 1:10 pm
European Stocks Slide Amid Trade War Fears and Weak Economic Data
European stock markets ended the week on a downbeat note as concerns about a potential trade war with the U.S. and disappointing economic data weighed on investor sentiment. Indices Under Pressure Germany’s DAX dropped 1.1%, France’s CAC 40 slid 1%, The UK’s FTSE 100 fell 0.4%. Trade Tensions Escalate with …
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20 December 2024 12:36 pm
Dollar Strengthens to Two-Year High as Yen and Global Currencies Struggle
The U.S. dollar ended the week on a high note, hitting a two-year peak as hawkish signals from the Federal Reserve continued to bolster its appeal. In contrast, global currencies faced significant pressure, with the yen, sterling, and commodity-linked currencies like the Australian and New Zealand dollars recording steep losses. …
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20 December 2024 12:04 pm
Bitcoin Falls Below $100,000 Amid Profit-Taking and Hawkish Fed Stance
Bitcoin extended its losing streak to a third day on Friday, retreating 3.7% to trade at $97,002.0 by 00:46 ET (05:46 GMT). The decline comes in the wake of the Federal Reserve’s hawkish monetary policy signals and profit-taking after the cryptocurrency reached record highs earlier in the week. Bitcoin Pullback …
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20 December 2024 12:02 pm
Asian Markets End the Week Flat-to-Lower Amid Hawkish Fed and Local Headwinds
Asian equities traded within a narrow range on Friday, largely reflecting the region’s cautious sentiment as global and domestic economic uncertainties dampened risk appetite. While Japan’s markets found some respite, most other major Asian indices either edged lower or remained flat, concluding a week marked by steep losses. Japanese Markets …
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