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Market Analysis

January, 2023

  • 30 January 2023 10:47 pm

    Oil drops ahead of US interest rate decision

    WTI crud has dropped by over 1% on the day and is trading around $78.40 at the time of writing after falling from a high of $80.44 and reaching a low of $77.91 so far on the day, ending a bullish start to the year towards month-end and following its …

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  • 30 January 2023 9:50 pm

    USD/CAD hits fresh daily highs ahead of key data

    The US dollar is modestly up amid higher US yields ahead of Fed’s meeting his week and key economic data. Equities and crude oil prices are able to trim previous losses during the US session.The pair is trading at 1.3362 at the time of typing. So far, the USD/CAD pair …

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  • 30 January 2023 8:52 pm

    Gold price struggles ahead of FOMC meeting

    Uncertainty is mastering the scene across financial markets as central banks’ monetary policies are in the making to potentially push the economy worldwide into a recession as a side effect of the battle against hot inflation. Gold prices are slightly lower and silver slightly higher in early US trading session …

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  • 30 January 2023 7:49 pm

    Does GDP data fgor Q4 indicate start of recession in Germany?

    The Preliminary German GDP data, which showed that the Eurozone’s largest economy contracted by 0.2% during the fourth quarter could qualify as an indicator that a recession exists in Germany.This reading was below consensus estimates for a flat reading and the 0.4% growth recorded in the previous quarter and contrary …

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  • 30 January 2023 5:16 pm

    Philips plans to lay off 6000 employees!

    The Dutch company Philips, which specializes in health technology, said on Monday, January 30, that it will cut 6,000 jobs to restore its profitability after withdrawing respirators that stopped 70% of their market value. The company said half of the job cuts will take place this year, while the other …

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  • 30 January 2023 3:21 pm

    Technology stocks lead the losses in European markets

    European stocks fell on Monday amid anticipation ahead of a series of central bank meetings later this week, with interest rate-sensitive stocks such as the technology sector among the main losers. The pan-European Stoxx 600 index was down 0.6 percent by 0818 GMT. The technology index led the declining sectors …

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  • 30 January 2023 2:12 pm

    Oil is falling before two upcoming meetings of OPEC+ and Fed

    Oil prices fell on Monday, giving up previous gains, with the world’s major producers expected to keep production unchanged during an upcoming meeting this week, and as investors warned ahead of a Federal Reserve meeting that could spark market volatility. Brent crude futures fell 20 cents, or 0.2 percent, to …

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  • 30 January 2023 1:07 pm

    Japan’s Nikkei trailed Wall Street and closed at the highest level in more than a month

    The Nikkei index ended trading on Monday at the highest level in more than a month, tracing the impact of gains on Wall Street in the previous session, but what limited those gains was the anticipation of the markets before a meeting of the Federal Reserve and the announcement of …

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  • 30 January 2023 1:01 pm

    Gold is locked in a relatively narrow range

    Gold prices moved in a relatively narrow range on Monday as investors around the world turned their attention to a series of central bank meetings, with particular focus on the Federal Reserve meeting. Spot gold rose 0.2 percent to $1,931.07 an ounce by 0717 GMT. US gold futures rose 0.1 …

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  • 30 January 2023 3:34 am

    Financial Markets’ Weekly Recap, January 23-27

    The US Dollar Index began the trading week down around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Fed startled investors away from the American currency which closed the week at 101.9.Oil Price ActionOn …

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  • 28 January 2023 5:34 am

    Market Drivers – US Session 27/01/2023

    US stocks rallied on Friday to mark another winning week fueled by better-than-expected economic growth and a pop in Tesla shares. The dollar index is now nearing a range that could lend support to the S&P 500, The USD Index latest reading is 101.922 versus the previous closing at 101.818.Key …

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  • 28 January 2023 2:49 am

    Higher supply attitude drags oil prices lower

    Oil prices steady lower on Friday, marking weekly flat performance to the downside amid indications of stronger Russian oil supply counterbalancing the better-than-expected rate of US economy’s growth in light of Friday’s PCE data, strong middle distillate refining margins and hopes of a quicker recovery of China’s demand levels.WTI crude …

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  • 28 January 2023 1:40 am

    EUR/USD hovers around 1.0860s as Fed, ECB decisions eyed

    The EUR/USD encountered rejection from the 1.0900 psychological barrier for the second day in a row. On Friday, the pair fell to the 1.08657 territory after US data boosted the expected 25 bps rate hike by the Fed next week. At the time of writing, the EUR/USD is trading at …

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