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Market Analysis

January, 2024

  • 15 January 2024 10:29 am

    Oil rises as investors await developments in events in the Middle East

    Oil prices rose on Monday as traders anticipated the possibility of a supply disruption in the Middle East after strikes launched by American and British forces on targets of the armed Houthi group in Yemen to prevent them from attacking ships in the Red Sea. By 0405 GMT, Brent crude …

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  • 15 January 2024 4:33 am

    Financial Markets’ Weekly Recap, January 8-12

    The earnings season kicked off with a slow start, with the KBW Bank stock index experiencing a 3.1% decline and the 10-year Treasury yield dropping from 4.1% to 3.9%. The Magnificent 7 led the rally with a 4.3% gain, while the equal-weighted S&P 500 saw a 0.3% increase. Investors were …

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  • 13 January 2024 3:04 am

    US stocks fluctuate after weak bank and airline earnings

    US stocks initially rallied on Friday after the US Producer Price Index (PPI) declined faster than market models predicted, despite Thursday’s CPI showing unexpectedly accelerated consumer inflation in December. The monthly PPI for December fell by 0.1%, in line with the previous month’s -0.1% decline, missing the median market forecast …

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  • 13 January 2024 2:51 am

    Fed reports largest operating loss ever on aggressive stance

    The US central bank experienced its largest operating loss of $114.3 billion in 2020 and 2021 due to aggressive support of the US economy. The Fed’s vigorous economic support and subsequent hike in interest rates to counter excessive inflation caused the central bank to suffer its greatest operational loss ever.Larger …

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  • 12 January 2024 11:41 pm

    T-yields decline to May low post PPI reading, bank earnings

    A drop in producer prices caused Treasury two-year yields to drop to their lowest level since May, suggesting that the Fed may cut rates this year. This comes after a higher-than-expected figure on consumer prices, which highlights how difficult it is to meet inflation targets.Wall Street analyzed bank results and …

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  • 12 January 2024 10:21 pm

    Gold Rallies Amid Red Sea Tensions

    Gold prices briefly climbed above $2,050 earlier in the day as investors were optimistic about Fed rate cuts. However, investors seem to have ignored the United States’ high consumer inflation data while US PPI remains soft. At the time of writing, the precious metal is trading at $2047.36 per ounce. …

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  • 12 January 2024 9:38 pm

    USD/JPY impacted after weak PPI reading, soaring Red Sea tensions

    With a loss of 0.40%, the USD/JPY pair is currently trading at 144.70, pushed by the lacklustre Producer Price Index (PPI). The US Dollar has been battered by disappointing PPI data for December, while growing tensions in the Red Sea region may bring demand back to the US Dollar.The US …

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  • 12 January 2024 8:41 pm

    After ETF debut, Bitcoin losses speed up as Ethereum heads to 18% weekly gain

    Following the introduction of eleven bitcoin exchange-traded funds (ETFs) in the United States, the cryptocurrency saw a notable decline on Friday, capping a week of positive growth. The majority of the cryptocurrency market was down as the price of bitcoin fell by about 6% to $44,022.22. But on Thursday, it …

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  • 12 January 2024 7:52 pm

    Oil surges amid soaring Middle East tensions

    Oil prices are rising due to increased tension in the Middle East, with tensions building up further. The DXY US Dollar Index is above 102, but it remains below a target of 102. 60 airstrikes took place by the UK and the US against Houthi positions in Yemen, marking the …

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  • 12 January 2024 6:02 pm

    US Producer Price Index Rises in December, Core PPI Below Expectations

    The latest data from the US Bureau of Labor Statistics reveals that the Producer Price Index (PPI) for final demand in the United States increased by 1% on a yearly basis in December. This marks a slight uptick from the 0.8% growth recorded in November, which was revised from the …

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  • 12 January 2024 3:02 pm

    UK’s GDP Beats Expectations

    This morning, the UK’s Office for National Statistics released data indicating that the country’s Gross Domestic Product (GDP) expanded by 0.3% on a monthly basis in December. This figure surpassed market expectations, which had predicted a growth rate of 0.2%. Notably, the preceding reading for November reflected a contraction of …

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  • 12 January 2024 3:00 pm

    Gold Prices Rally Amid Middle East Tensions Following Air Strikes on Yemen

    Gold prices surged on Friday as concerns heightened over the escalating conflict in the Middle East due to airstrikes in Yemen, increasing the appeal of the precious metal as a safe-haven asset. As of 07:01 GMT, spot gold saw a 0.3 percent rise, reaching $2,034.84 per ounce. Despite a 0.5 …

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  • 12 January 2024 2:59 pm

    European Stocks Open Higher Despite Middle East Tensions, ECB Rate Cut Optimism

    European stocks began the day on a positive note, with investors seemingly overlooking the Middle East conflict escalation and focusing on optimism surrounding a potential interest rate cut by the European Central Bank (ECB). Airbus shares also experienced gains, driven by the company’s record annual orders for aircraft. The European …

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