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Major US stock indexes closed lower on Friday after surprisingly strong jobs data raised concerns about the Federal Reserve’s aggressive rate hikes, while investors received a mixed batch of earnings reports from major companies.The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls …
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February, 2023
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4 February 2023 6:01 am
Market Drivers – US Session 03/02/2023
Economic data mainly drove the US trading session on Friday. US job growth was the main protagonist in most of the incidents in the market’s story as US job growth soared in January amid a persistently resilient labour market, but a further moderation in wage gains could give the Fed …
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4 February 2023 3:41 am
WTI Crude Oil Loses Over 3.5% On Robust US Jobs Data
Oil prices dipped to three-week lows on Friday during a remarkably volatile US trading session, volatility even deepened following the robust US jobs report that renewed existing concerns about future higher interest rates in the USA as investors seek clarity on the imminent EU embargo on Russian refined products. Brent …
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4 February 2023 2:57 am
US Dollar Still Soaring Following Huge Jobs Report
The US dollar leaped on Friday after data showed that US employers added significantly more jobs in January than economists expected, possibly paving the way ahead before the American central bank to add further interest rate hikes in coming monetary policy meetings.The Labour Department’s closely monitored NFP report showed that …
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4 February 2023 12:51 am
USD/CAD climbs on remarkably positive NFP data
The USD/CAD resumed its uptrend once it reclaimed the February 1 daily high at 1.3379. the pair climbs in the US trading session after hitting a daily low of 1.3311 before Wall Street opened.The strong US jobs report boosted the US dollar, the strongest currency across the forex board. At …
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3 February 2023 11:47 pm
Wall Street plunge in reaction to NFP data
US stocks plunged lower on Friday morning as traders digested the much stronger than expected jobs report for January, but recovered a little bit by midday trading after the US jobs report far exceeded expectations while the unemployment rate fell to a historic low of 3.4%. Stock market’s steep decline …
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3 February 2023 11:13 pm
Poor UK data could impose pressure on the GBP
The change in the Bank of England’s rhetoric is favouring additional interest rate hikes in the upcoming policy meetings. Meanwhile, poor UK data is expected to drag the British Pound lower. The GBP/USD pair has fallen this afternoon, as the US Non Farm Payrolls data pointed to a surprise surge …
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3 February 2023 8:59 pm
Could NFP Drive FOMC To Cautious Stance On Rate Hikes?
Friday’s NFP data by the US Bureau of Labour Statistics showed that Nonfarm Payrolls surged by 517K in January, above market consensus. The figure pushed the US dollar forward to rally. Analysts point out that there is still plenty of additional economic data from the beginnings of February till March’s …
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3 February 2023 5:13 pm
Oil stabilizes as the market awaits demand recovery in China and the EU ban
Oil prices stabilized on Friday, but were heading to record losses for the second week, as the market awaited other indications of a recovery in fuel demand in China and the extent of the impact of an embargo imposed by the European Union on Russian oil products and a ceiling …
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3 February 2023 4:02 pm
Gold rose slightly as investors awaited the US jobs report
Gold prices settled in a narrow range on Friday, as cautious investors assessed the statements of global central banks and awaited the US Nonfarm Payrolls report. After losing nearly two percent in the previous session, spot gold rose 0.2 percent to $1915.42 an ounce by 0930 GMT. US gold futures …
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3 February 2023 3:06 pm
Dollar rose as investors awaited US jobs data
The dollar rose slightly on Friday to maintain some momentum, after jumping in the previous session following a series of decisions by central banks in Europe. Trading was relatively subdued as markets awaited the release of the latest US jobs data later in the day, which could change Federal Reserve …
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3 February 2023 1:23 pm
European stocks fell, affected by the weak profits of US technology companies
European stocks fell on Friday, weighed down by losses in technology stocks, after disappointing overnight earnings for their major US counterparts reignited concerns about global economic demand and the impact of rising interest rates. The pan-European Stoxx 600 index was down 0.5 percent by 0812 GMT. Nevertheless, the index is …
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3 February 2023 12:41 pm
Turkey’s annual inflation is near 58%, exceeding expectations
Official data showed on Friday that Turkey’s annual inflation fell to 57.68 percent in January, but much higher than expectations. The Turkish Statistical Institute said consumer prices rose 6.65 percent month-on-month, nearly double the 3.8 percent forecast in a Reuters poll. On an annual basis, the survey expected consumer price …
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