The Nikkei index in Japan experienced a mild retreat at Friday’s close, stepping back from its highest level in 34 years as investors opted to cash in on gains. Here’s a breakdown of the key movements and factors influencing the market: Nikkei’s Modest Gain and Intraday High The Nikkei edged …
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In the face of ongoing caution, the US dollar appreciated sharply ahead of Wednesday’s FOMC me…
Fed poised to keep rates unchanged despite expected rhetoric change
Markets expect the Fed rate to remain unchanged at the end of the Federal Open Market Committee meet…
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Beyond forecasts, Amazon’s performance during Q1 was a remarkable success, with continued domi…
Gold price dips ahead of FOMC decision
XAU/USD trades at $2,292, down by over 1.50% on Tuesday. The US Bureau of Labour Statistics reported…
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US dollar consolidates gains ahead of FOMC decision
The US Dollar Index is currently trading higher at 105.95, with markets expecting a hawkish hold by …
US dollar benefits from US employment data
The US dollar continues to rise since the beginning of daily trading on Tuesday amid speculations co…
Canadian dollar declines on higher risk-off worries
The Canadian GDP print came below forecast, further weakening the Canadian currency. US wage growth …
GBP/USD Retreats Ahead of FOMC Decision
The GBP/USD pair declines 0.36% from its daily peak, under pressure from indications of rising US in…
Market Analysis
February, 2024
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9 February 2024 1:55 pm
Yen Slides to Ten-Week Low as Dollar Strengthens
The yen stumbled to its lowest point in ten weeks on Friday, while the dollar continued its upward trajectory for the fourth consecutive week. This shift comes as traders recalibrate their expectations regarding interest rate movements by central banks. Yen’s Decline and Dollar’s Advance The yen exhibited limited movement, hovering …
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9 February 2024 12:37 pm
Germany’s Inflation Eases in January
Germany’s Federal Statistics Office delivered news on Friday that confirmed earlier indications: inflation in the country receded in January, offering a potential reprieve from recent price surges. According to the official data, consumer prices, when harmonized for comparison with other European Union nations, increased by approximately 3.1 percent year-on-year in …
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9 February 2024 11:52 am
Oil prices are heading for weekly gains
In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …
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9 February 2024 11:12 am
Gold Prices Stabilize Amid Lunar New Year Holiday
Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East. Current Gold Prices and Market Activity At 0404 GMT, gold …
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9 February 2024 5:44 am
Market Drivers – US Session, February 8
Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …
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9 February 2024 2:57 am
Additional $10 increase in crude oil prices expected by May
Crude oil futures rose sharply after Israel rejected a ceasefire offer in Gaza, reinforcing concerns of a wider Middle East conflict. The recent bombing of Rafah by Israeli forces in Gaza has also boosted crude prices. Geopolitical tensions, particularly between the US and Iran, have been a key source of …
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9 February 2024 1:50 am
Gold pressured by US dollar’s gains
Gold futures have declined since the opening of Thursday’s North American trading session due to the rise in the US dollar and renewed geopolitical concerns about the possibility of the war in Gaza expanding to other areas within the Middle East. The US dollar achieved limited gains due to Israeli …
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9 February 2024 12:14 am
S&P 500 briefly hits 5,000 for the first time
The S&P 500 briefly topped the 5,000 milestone for the first time ever, with the broad-based index finishing slightly higher at 4,997.91. The Dow Jones Industrial Average rose 48.97 points, or 0.13%, to end at 38,726.33, while the Nasdaq Composite gained 0.24% to close at 15,793.71. Strong earnings and a …
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8 February 2024 11:19 pm
US dollar steadily rose on positive Jobless Claims
The US dollar rose on Thursday, initially to 103.45 and then stabilizing at 104.15, following positive Initial Jobless Claims data. However, bulls are running out of steam due to a lack of fresh drivers and Fed speakers refusing to give additional guidance on the bank’s next steps concerning future rate …
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8 February 2024 10:17 pm
Could CPI revisions dampen optimism about inflation?
The Federal Reserve looks in no hurry to cut interest rate very soon. Last year’s revisions to the consumer price index (CPI) raised doubts on inflation progress, prompting Fed officials to seek more evidence before committing to interest-rate cuts. The Bureau of Labor Statistics regularly adjusts monthly CPI data to …
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8 February 2024 8:42 pm
EUR/GBP finds fresh modest gains despite dovish ECB
The EUR/GBP pair had a 0.10% increase on Thursday and is currently trading at 0.8540. The GBP will eventually gain from the ECB and BoE’s different monetary policies.The markets are pointing to an April rate cut from the ECB and a June rate cut from the BoE. The EUR/GBP pair …
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8 February 2024 7:28 pm
BoE’s Mann: Near-term decelerating inflation won’t continue
Bank of England policymaker Catherine Mann, who voted in favor of a rate hike in the last policy meeting, said on Thursday that she is not convinced that the near-term declaration in headline inflation will continue.Mann noted that she is worried that a Red Sea price shock could be incorporated …
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