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Market Analysis

January, 2024

  • 12 January 2024 2:58 pm

    Nikkei Index Hits 34-Year High, Notching Best Week Since March 2022

    Japan’s Nikkei index surged to its highest level in 34 years on Friday, marking its most impressive week since March 2022. The rally was bolstered by diminishing expectations that the Bank of Japan would imminently shift away from its monetary easing policy and a resurgence of foreign investor interest. Closing …

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  • 12 January 2024 12:04 pm

    Oil Prices Surge Over 2% as US and UK Launch Strikes Against Houthi Targets in Yemen

    Oil prices experienced a significant spike of over two percent on Friday following joint strikes by the United States and Britain against Houthi military targets in Yemen. The military action was in response to attacks by the Iran-aligned Houthi group on ships in the Red Sea since late last year. …

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  • 12 January 2024 6:29 am

    Market Drivers – US Session, Jan 11

    Following Iran’s announcement early on Thursday that a civilian oil tanker had been captured in the Gulf of Oman, WTI crude oil saw a spike in price. The seizure, according to official Iranian state media, was a reprisal for the US seizing the identical ship, which was headed towards Iran, …

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  • 12 January 2024 1:22 am

    Gold price recovers ahead of China’s CPI

    In the early Asian session on Friday, the price of gold rises from the weekly low of $2,013 to $2,030. The chance that the Fed would not start lowering interest rates as soon as anticipated, however, might restrict the upside of the yellow metal and put some selling pressure on …

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  • 12 January 2024 12:10 am

    GBP/USD edges higher ahead of key UK GDP, US PPI data

    The Bank of England may be facing a deadline for its first rate decrease because of a possible faster pace of decline in inflation, which is why the GBP/USD pair is trading strongly for the third day in a row. The US CPI inflation data could put the Federal Reserve’s …

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  • 11 January 2024 11:21 pm

    Fresh US – Chinese row on chipmaking

    Wang Wentao, China’s commerce minister, has voiced worries about US export restrictions that bar foreign nations from sending lithography machines to China. With these restrictions, the US has prevented China from obtaining cutting-edge chips and the equipment needed to produce them, which may support AI and highly developed computers for …

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  • 11 January 2024 10:33 pm

    Fed’s Mester: March probably too early for rate cut

    The rocky path of getting inflation back to the US Federal Reserve’s 2% target rate reflected in the latest Consumer Price Index (CPI) figures means that it would likely be too soon for the central bank to cut its policy rate in March, Cleveland Fed President Loretta Mester said on …

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  • 11 January 2024 9:27 pm

    Gold deteriorates below 2015 after US CPI data

    Gold prices have been volatile due to high price pressures in the United States in December, and investors seem confident about the Federal Reserve reducing interest rates in March. The precious metal is trading at $2014.69 at the time of writing.The United States Bureau of Labour Statistics reported hotter-than-projected Consumer …

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  • 11 January 2024 8:15 pm

    Microsoft Surpasses Apple, But CPI Report Drags US Stocks Lower

    US stocks are lower after consumer-price index data showed inflation was slightly hotter than expected in December.Signs of cooling inflation fueled a big rally across a range of markets toward the end of last year, with investors piling into everything from Treasurys to stocks to low-rated corporate debt.Thursday’s data was …

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  • 11 January 2024 7:27 pm

    AUD/USD declines after US CPI data

    The AUD/USD saw a loss of 0.30% and dropped below the 0.6700 mark. Declining US CPI in December reduced dovish Fed bets. The pair’s downside is constrained because there is a good chance the Fed will lower rates in March.On Thursday, the Australian dollar declined in value relative to the …

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  • 11 January 2024 2:06 pm

    European stocks rise before the release of US inflation data

    European stocks opened higher on Thursday before an important report on inflation in the United States will provide indications about the path of interest rate cuts that the Federal Reserve may follow, and shares of basic resource companies led the gains. The European STOXX 600 index rose 0.6 percent by …

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  • 11 January 2024 11:59 am

    Dollar Weakens in Asia as Traders Await US Inflation Data

    In Asian trading on Thursday, the US dollar experienced a decline, dropping to its lowest level around 102 points as traders awaited crucial US inflation data for insights into the Federal Reserve’s policy direction for the year. Bitcoin surged to $46,400, nearing its highest level in two years, following the …

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  • 11 January 2024 11:15 am

    Oil prices rise amid escalating tensions in the Middle East

    Oil prices rose in Asian trading as markets assessed the escalating tensions in the Middle East in contrast to the sudden increase in US crude inventories that pushed oil prices down by about 80 cents in the previous session. US West Texas Intermediate crude futures rose 20 cents, or 0.28 …

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