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Market Analysis

September, 2023

  • 4 September 2023 3:04 pm

    Oil holds breath ahead of OPEC+ supply cut expectations

    Oil prices remained constant on Monday, with predictions that major producers would keep supply tight, as hopes grew for the Federal Reserve to keep interest rates unchanged in order to keep the US economy from slowing. By 1110 GMT, Brent crude futures had risen 5 cents to $88.60 per barrel. …

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  • 4 September 2023 1:56 pm

    Inflation in Türkiye reached 58.9% in August

    Official data showed on Monday, September 4, that annual consumer price inflation in Turkey rose to 58.94% in August, exceeding expectations and rising for the second month in a row as a result of the decline in the lira and the recent increase in taxes. The consumer price inflation rate …

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  • 4 September 2023 1:19 pm

    European stocks rose on optimism about the Chinese economy

    European stocks rose on Monday, boosted by positive sentiment in Asian markets, amid investor optimism that a series of stimulus measures announced by China will help its slowing economy, and Novo Nordisk shares reached a new record high. The European STOXX 600 index rose 0.6 percent by 0720 GMT, after …

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  • 4 September 2023 11:52 am

    Dollar declines amid expectations that interest rates will not be raised in US

    The dollar fell in cautious trading on Monday, as investors evaluated US jobs data, which included signs of a slowdown, reinforcing expectations that the Federal Reserve has likely reached the end of its monetary tightening cycle. The dollar index, which measures the US currency against a basket of currencies, fell …

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  • 4 September 2023 10:50 am

    Oil rises amid expectations of OPEC+ supply cuts

    Oil prices rose on Monday, supported by expectations that major producers will maintain the restrictions they impose on supplies, as well as growing hopes that the Federal Reserve (the US central bank) will leave interest rates unchanged to avoid an economic slowdown. Brent crude futures for November delivery rose three …

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  • 4 September 2023 9:43 am

    Asia shares bounce as China mood turns less bleak

    Asian stocks rose on Monday as investors bet the Federal Reserve would stop rising interest rates in the United States, and on optimism that Beijing’s continuous drip of economic stimulus would be enough to at least stabilise the Chinese economy. Due to a holiday in the United States, trading was …

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  • 4 September 2023 1:11 am

    Financial Markets’ Weekly Recap, Aug 28-Sep 1

    On Friday, the dollar rose versus the euro and the Japanese yen after the August jobs report revealed a still-strong labour market, despite some signs of slippage. Employers added 187,000 jobs in August, exceeding predictions of 170,000. However, data for July was revised downward to reflect 157,000 employment gains rather …

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  • 1 September 2023 11:46 pm

    Market Drivers – US Session, Sept. 1

    US economic data has been mostly stable, with the Consumer Price Index on September 13 being crucial ahead of the FOMC meeting on September 19-20. Key reports in the US next week include Factory Orders and revised Q2 Unit Labor Costs. The Australian Dollar was the best performer among majors …

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  • 1 September 2023 10:21 pm

    Gold’s chance to rebound diminished on stronger US dollar

    The precious metal’s weekly gain for dollar investors was reduced to 1.2% as gold prices declined this afternoon entering Friday’s London benchmark auction as mixed data on the US labour market was followed by less-poor manufacturing sector data. Gold is trading at 1940.86 per ounce at the time of writing.According …

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  • 1 September 2023 9:45 pm

    EUR/USD reverses course after US PMIs data

    The EUR/USD fell to 1.0786 at the time of writing after initially climbing to 1.0880. US manufacturing PMIs revealed better than anticipated outcomes. Following the announcement, the US Dollar Index and Treasury rates both dramatically increased.The USD changed direction in response to stronger Institute for Supply Management (ISM) PMIs following …

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  • 1 September 2023 8:47 pm

    USD/JPY mildly recovers post NFP data on rising Treasury yields

    The USD/JPY pair is trading flat at 145.46, after dropping to a three-week low of 144.44. US Nonfarm Payrolls for August beat estimates, but the Unemployment Rate misses, keeping the pair in check. Rising US Treasury bond yields have further supported the dollar, with the USD/JPY trading at 146.196, gains …

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  • 1 September 2023 7:40 pm

    Fed Officials Care Most To How Restrictive Policy Needs To Be, For How Long

    Loretta J. Mester, President of the Federal Reserve Bank of Cleveland, stated on Friday, following the NFP report, that the job market remains strong despite signs of rebalancing. She downplayed the increase in the Unemployment Rate to 3.8%, stating that this level “is still low.”Speaking at an event in Germany, …

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  • 1 September 2023 5:08 pm

    US Nonfarm Payrolls rise 187,000 in August

    The US Bureau of Labour Statistics (BLS) stated on Friday that nonfarm payrolls (NFP) increased by 187,000 in August. This result was higher than the market forecast of 170,000. On the negative side, the 187,000 increase in July was reduced down to 157,000. The unemployment rate rose to 3.8% in …

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