Natural gas futures touched fresh levels in the green territory marking the first gain in 2023, amid estimates for a massive storage withdrawal report. After dropping 48.7 cents on Tuesday, and closing below $4.00, the February Nymex natural gas futures contract on Wednesday gained 18.4 cents day/day and settled at …
Read More »Chaos Hedge Gold and Oil Surge as Israeli Strikes on Iran Ignite Broader Conflict Fears
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U.S. Stock Futures Drop as Israel-Iran Tensions Escalate, Oil Prices Surge
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Bitcoin prices tumbled on Friday, as escalating tensions in the Middle East, following Israel’s larg…
European Stocks Drop as Israel Strikes Iran, Crude Prices Surge
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Euro Soars to Near Three-Year High as PPI Data and Trump’s Tariffs Sink US Dollar
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Market Analysis
January, 2023
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5 January 2023 9:58 pm
USD/CAD hits fresh daily highs near 1.3600 as Dollar rallies
The US Dollar sharply surges on the back of fresh US economic data, so far the Dollar Index has hit highest in almost one month. The USD/CAD pair rebounds from 1.3475 toward 1.3600 ahead of the awaited US and Canadian employment reports on Friday. The USD/CAD is up on Thursday …
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5 January 2023 8:51 pm
AUD/USD falls on Thursday’s solid US jobs data
After US ADP Employment Change crushed estimates, while unemployment claims missed estimates, foreseeing a solid US Nonfarm Payrolls report, the Australian dollar loses ground against the US counterpart. After economic data revealed in the United States confirming a robust labour market, traders’ speculations augmented that the Fed would continue tightening …
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5 January 2023 7:44 pm
EUR/USD hovers around 1.0530
The EUR/USD pair’s upside momentum faltered once again around 1.0530. The breakout of that resistance could lead up to a test of 1.0713. The EUR/USD pair gives away initial gains and sinks in the red territory below the 1.0500 support on Thursday. The constructive outlook for EUR/USD should remain unchanged …
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5 January 2023 7:27 pm
US NFP Preview
The buoyancy of nonfarm payroll growth has seemed at probabilities with other signs that the jobs market is beginning to sour. As a result, we look for nonfarm payroll growth to decrease noticeably in the months ahead, starting with December’s employment report showing hiring slowing to 205,000. Demand for employees …
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5 January 2023 6:02 pm
US: Weekly Initial Jobless Claims decline to 204K
There were 204,000 initial jobless claims in the week ending December 31, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 223,000 and came in better than the market expectation of 225,000. Further details of the publication …
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5 January 2023 5:15 pm
European shares fell after FOMC minutes dispelled policy change hopes
European stocks fell on Thursday ahead of the release of inflation data in the eurozone and after the release of the minutes of the Federal Reserve meeting in December, which showed the US central bank’s commitment to curbing inflation. The pan-European STOXX was down 0.3% by 0810 GMT, after rising …
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5 January 2023 4:20 pm
Petroleum Institute: US oil stocks rose by 3.3 million barrels
The American Petroleum Institute said that crude oil inventories rose by 3.3 million barrels in the week ending on the 30th of last December. In its weekly report, the American Institute stated that gasoline stocks rose by 1.2 million barrels, while distillate stocks decreased by 2.4 million barrels. Today, Thursday, …
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5 January 2023 3:33 pm
The aggressive US central bank speech fails to support USD
The dollar struggled to rally on Thursday even though policymakers at the US Federal Reserve reaffirmed their commitment to fighting inflation, while the Australian dollar jumped after China eased restrictions on coal imports from Australia. The minutes of the Federal Reserve’s December monetary policy meeting, released last night, showed that …
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5 January 2023 2:32 pm
Gold retreats as caution prevails ahead of the release of US jobs data
Gold prices retreated on Thursday from their highest level in nearly seven months as the dollar strengthened and investors shied ahead of closely watched US jobs data, which could affect the path of the Federal Reserve’s interest rate hike. Spot gold fell 0.3 percent to $1,848.59 an ounce by 0924 …
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5 January 2023 1:18 pm
Nikkei closed higher but monetary policy concerns limited gains
Japan’s Nikkei index recovered on Thursday from its lowest level in three months as shares of chip-related companies rose, tracking their US counterparts, but expectations of the world’s major central banks continuing to pursue monetary tightening limited gains. The Nikkei ended the session up by 0.4 percent, recording 25,820.80 points, …
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5 January 2023 2:41 am
Market Drivers – US Session 04/01/2023
On Wednesday, the dollar sharply edged lower across the board. However, losses were uneven, with the Australian dollar among the best performers and the Euro at the bottom of the list. The International Monetary Fund’s managing director said a third of the world’s economies could slide into a recession in …
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5 January 2023 1:18 am
US stocks swing as investors digest economic data, FOMC minutes
The S&P 500 was up a modest 0.1% in the afternoon, falling from a session high of more than 1% after minutes came in more hawkish than anticipated. The Dow Jones Industrial Average fell 0.2%, and the technology-heavy Nasdaq Composite was roughly flat.US stocks wobbled in back-and-forth trading Wednesday as …
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