According to meeting minutes made public on Wednesday, Federal Reserve policymakers agreed in December that interest rate reductions are probably going to happen in 2024, although they didn’t seem to specify when.A number of FOMC members stated that when bank reserves “are somewhat above the level judged consistent with ample,” …
Read More »Gold Rebounds as Fresh Trump’s Threats Boost Safe-Haven Demand
Gold prices staged a rebound on Thursday after falling to their lowest level in six months, as renew…
ECB Rate Hike Boosts European Stocks as Lagarde Signals Tough Inflation Stance
European stock markets closed mostly higher on Thursday after European Central Bank President Christ…
Oil Prices Ease as Diplomatic Hopes Between US and Iran Reduce Supply Concerns
Oil prices moved lower on Thursday as investors took profits following a sharp rally fueled by tensi…
Bank of Japan Faces Defining Moment as Rate Hike Looms and Yen Pressures Intensify
The Bank of Japan is preparing for one of its most closely watched policy meetings in years, with fi…
ECB Hikes Rates for First Time Since 2023: Iran War Energy Shock Forces Inflation Forecasts Higher, Growth Lower
Key Takeaways ECB raises rates: The deposit rate was lifted to 2.25% from 2% — the first increase in…
Bitcoin Bounces 2.2% as U.S. Signals End to Latest Iran Strikes: SpaceX IPO and AI Rotation Keep Crypto Under Pressure
Key Takeaways Bitcoin recovers: The world’s largest crypto rose 2.2% to $62,673.7, bouncing fr…
European Stocks Rebound as Dip Buyers Return Ahead of ECB’s First Rate Hike Since 2023
Key Takeaways Broad recovery: The Stoxx 600 rose 0.6% after hitting a three-week low Wednesday; FTSE…
Oil Erases Gains as U.S.-Iran Peace Talks Resume Despite Air Strikes: ING Warns Hormuz “Still Some Way Off” From Resolution
Key Takeaways Oil retreats: Brent fell 1.4% to $91.76 per barrel, while WTI dropped 1.3% to $88.88 —…
Gold Bounces From 6-Month Low After Iran Declares Total Hormuz Shutdown: ING Warns Near-Term Path Tied to Fed Policy
Key Takeaways Gold recovers from 6-month low: Spot gold rose 0.6% to $4,093.35 per ounce after touch…
US Consumer Inflation Continues to Climb as Energy Costs Push Prices Higher
Consumer inflation in the United States continued to accelerate in May, highlighting the ongoing imp…
Market Analysis
January, 2024
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3 January 2024 11:07 pm
FOMC minutes cite “diminished” inflation risks, concern about “overly restrictive” policy
US Federal Reserve officials appeared increasingly convinced at their meeting last month that inflation was coming under control, with “upside risks” diminished and growing concern about the damage that “overly restrictive” monetary policy might do to the economy, according to minutes of the central bank’s Dec. 12-13 policy meeting.As a …
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3 January 2024 10:28 pm
Dollar Climbs Ahead Of FOMC Minutes
The DXY Index is advancing with strong gains, recovering above the 20-day SMA, while US JOLTs Jobs Openings and ISM’s December Manufacturing PMI exceeded expectations. Dovish bets on the Fed have eased slightly, but remain high. The US Dollar Index has gained at 102.60, reclaiming the 20-day Simple Moving Average. …
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3 January 2024 9:32 pm
GBP/USD weakening as investors focus on US data
The GBP/USD pair has not recovered much after Tuesday’s steep drop, but it is currently trading around 1.2644. This week’s UK data is scarce as investors prioritize US labour and economic activity data. Leading the way is the US ISM Manufacturing Purchasing Managers’ Index, whose December PMI surpassed forecasts but …
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3 January 2024 8:41 pm
January to witness deadline for the government shutdown
A partial or total government shutdown could be brought on by two impending deadlines in early 2024, especially in light of the little progress made thus far. January 19 is the first deadline, while February 2 is the second. Since various government departments are impacted by these two midnight deadlines, …
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3 January 2024 7:24 pm
JOLTS for November decline below forecast
The number of job openings on the last business day of November stood at 8.79 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This reading followed 8.85 million (revised from 8.73 million) openings in October and came in …
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3 January 2024 6:13 pm
European Shares Retreat to Three-Week Low Following Robust 2023 Performance
On Wednesday, Europe’s benchmark stock index, the STOXX 600, dropped to a three-week low, testing the previous year’s market rally. The index was down 0.8% at 1310 GMT, having started the new year on a lackluster note the day before. Major European indexes in Germany, Italy, and France slid over …
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3 January 2024 6:11 pm
US government debt exceeds $34 trillion for the first time in its history
The total public debt of the United States has surpassed $34 trillion for the first time in history, according to the daily statement from the US Treasury Department. This announcement comes as Congress prepares for upcoming battles over federal funding. The total outstanding public debt reached $34.001 trillion, with the …
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3 January 2024 3:13 pm
Gold prices rise as USD declines ahead of Fed
Gold prices saw a slight increase on Wednesday, supported by a weaker dollar and the market’s anticipation of key data releases, including the Federal Reserve meeting minutes and the private sector jobs report in the United States. These releases are crucial for gaining insights into potential changes in interest rates. …
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3 January 2024 1:42 pm
European stocks are stable as investors await indicators on monetary policy
European stocks showed modest performance at the start of trading on Wednesday, with the momentum that drove the market higher at the end of the previous year starting to wane. Investors are eagerly awaiting key indicators that could shape global monetary policy. As of 08:10 GMT, the European STOXX 600 …
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3 January 2024 12:49 pm
USD stabilizes as risk appetite declines
The dollar experienced a slight decline on Wednesday, despite remaining near its highest level in two weeks. This was supported by factors such as rising US Treasury yields and caution in risk appetite, impacting Wall Street. Trading activity was relatively thin in Asia due to the holiday in Japan. The …
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3 January 2024 11:15 am
Oil prices rise due to continued shipping tensions through the Red Sea
Oil prices experienced a slight increase in early Asian trading on Wednesday, driven by ongoing concerns about shipping disruptions in the Red Sea and escalating tensions in the Middle East. As of 0004 GMT, Brent crude rose by 26 cents, or 0.4 percent, reaching $76.11 per barrel, while US West …
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3 January 2024 1:22 am
Market Drivers – US Session, January 3, 2024
On Tuesday, the US dollar emerged victorious overall, with a strong appreciation vs all of its main competitors. By the end of 2024, investors were back in the USD due to signals of slowing global growth. S&P Global published the Manufacturing PMIs for December for a number of significant economies, …
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