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Market Analysis

September, 2023

  • 14 September 2023 9:18 pm

    Bitcoin price targets $27,000 as bulls ignore PPI data

    Bitcoin price is targeting $27,000 as bulls ignore surprise PPI inflation data. Despite recent macro data showing a rebound in US inflation, Bitcoin traders are anticipating greater increases. The Consumer Price Index (CPI) and Producer Price Index (PPI) August prints reaffirmed the US inflation return, and Bitcoin continued to gain …

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  • 14 September 2023 8:57 pm

    USD/CAD continues to decline on higher oil prices

    The USD/CAD exchange rate has lost 1.3515 for the sixth consecutive day, with the US PPI increasing by 1.7% YoY in August. Retail sales were strong, and expectations of a Fed tightening loosened slightly. The number of Jobless Claims for the second week of September was less than anticipated.The USD/CAD …

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  • 14 September 2023 7:45 pm

    Gold trades sideways, but long-term outlook seems promising

    After passing the $2,000 bar in the spring, Gold experienced weakness over the summer. Economists at Société Générale analyze the yellow metal’s outlook. The precious metal is trading at $1906.69 per ounce at the time of writing.While core inflation is stubbornly high and short-term headline inflation is still cooling, the …

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  • 14 September 2023 4:47 pm

    ECB raises interest rates by 25 basis points

    The European Central Bank raised interest rates by about 25 basis points, continuing the monetary tightening policy that has been in place for more than a year. According to the monetary policy decision issued today, September 14, the bank raised the deposit interest rate (base interest rate) by 25 basis …

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  • 14 September 2023 2:35 pm

    Gold is stable amid expectations of stopping US interest rate hikes

    Gold prices stabilized on Thursday near their lowest levels in three weeks, which they touched in the last session after the release of US inflation data, which reinforced expectations that the Federal Reserve will stop raising interest rates next week. By 0747 GMT, spot gold prices stabilized at $1,905.49 per …

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  • 14 September 2023 1:27 pm

    European stocks rise ahead of the European Central Bank’s interest rate decision

    European stocks rose on Thursday even as investors remained cautious ahead of the European Central Bank’s decision on interest rates, as it is likely to raise them for the tenth time in a row. Markets expect approximately 65 percent of interest rates to rise by 25 basis points, which will …

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  • 14 September 2023 12:23 pm

    Japan’s Nikkei closes near a one-week high

    Japan’s Nikkei index rose to close near its highest level in a week on Thursday after data showed that US inflation remains sluggish and the downward trend reinforced expectations that the US central bank will keep interest rates unchanged next week. The Nikkei rose 1.41 percent to 33,168.10 points, reaching …

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  • 14 September 2023 11:53 am

    Oil is rising as markets focus on tight supply

    Oil prices rose on Thursday after falling slightly in the previous session, as markets returned to focus on expectations of tight crude supply during the rest of 2023. Brent crude futures rose 17 cents to $92.05 a barrel at 12:02 GMT, while US West Texas Intermediate crude rose 19 cents …

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  • 14 September 2023 2:53 am

    Market Drivers – US Session, September 13, 2023

    The dollar index rose on Wednesday after US economic data showed inflation increased for August, but did little to change expectations for the path of rate hikes from the Federal Reserve. The consumer price index increased by 0.6% last month, the largest gain since June 2022, as gasoline prices jumped. …

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  • 14 September 2023 1:36 am

    European stocks close down 0.4% as FTSE tries to hold on

    European stocks closed down 0.4% on Wednesday, with investors anticipating the latest rate call from the ECB. Inflation remains a significant issue for national European central banks, with the Bank of England caught between a rock and a bigger rock.The German DAX and France’s CAC40 both ended trading down around …

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  • 14 September 2023 12:16 am

    WTI slides on surprising US inventories, stronger dollar

    Following a surprising increase in US crude stocks and a 3.7% YoY increase in August, WTI is currently trading at $87.969, down 0.17% after losing 0.33% earlier during the US trading session. Contrary to forecasts, the most recent US crude oil stocks showed a 4 million barrel gain. According to …

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  • 13 September 2023 11:18 pm

    Bitcoin price rests above $26,200 following key CPI print

    The US headline Consumer Price Index (CPI) rose by 3.7% yearly in August, exceeding expectations, and core CPI annual inflation came in at 4.3%, in line with forecasts. Bitcoin price hovers above $26,200, with most of the crypto market noting a minor decline. The larger-than-expected rebound in prices leaves room …

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  • 13 September 2023 10:34 pm

    Will ECB hike or keep interest rate unchanged?

    The European Central Bank is set to announce its Monetary Policy Decision on September 14, and as the release time approaches, economists and researchers from 10 major banks predict a range of outcomes. Markets are split, with 26 analysts polled by Bloomberg seeing no change and 23 seeing a 25-bps …

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