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Market Analysis

January, 2024

  • 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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  • 11 January 2024 2:40 am

    Market Drivers – US Session, Jan 10

    The US dollar experienced a corrective move on the back of improved market sentiment surrounding the risk-linked assets, which weighed on the dollar. Both Gold and Silver grinded lower and revisited the lower end of the so-far yearly range prior to the release of US inflation on Thursday.The dollar faced …

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  • 11 January 2024 1:58 am

    US stocks higher ahead of US inflation data

    US stocks closed higher on Wednesday, with the Dow Jones Index rising over 150 points. The S&P 500 gained 0.57% to end at 4,783.45, while the Dow Jones industrial average added 170.57 points to close at 37,695.73. The Nasdaq Composite advanced 0.75% to settle at 14,969.65. Intuitive Surgical and Lennar …

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  • 11 January 2024 1:13 am

    Treasury yields decline ahead of CPI data

    While financial markets gear up for a relatively busy year, there persists a state of severe disagreement about the forces driving longer-term interest rates.The range of forecasts for the yield on the 10-year Treasury one year from now is below 3% to above 5%. The yield outlook is mostly dependent …

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  • 11 January 2024 12:28 am

    Yen faces selloff following wages data

    The Japanese Yen is experiencing a selloff due to a 3% drop in real wages for the year ended November, despite a 0.2% increase in nominal wages. This is due to inflation affecting consumers’ earnings and purchasing power. The Bank of Japan is hinting at rate hikes based on rising …

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  • 10 January 2024 11:40 pm

    Oil prices decline after surprise US stockpile build

    Oil prices declined on Wednesday due to a surprise increase in US crude stockpiles, raising concerns about demand in the largest oil market. The EIA report highlighted investor concerns of slowing demand growth, with US crude inventories rising by 1.3 million barrels in the week ended January 5 to 432.4 …

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