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Market Analysis

December, 2023

  • 19 December 2023 11:35 am

    Gold is confined to a narrow range with focus on US inflation data

    Gold prices fell in limited trading on Tuesday as investors awaited more US economic data this week that may shed light on the Federal Reserve’s monetary policy outlook. By 0535 GMT, gold in spot transactions fell 0.1 percent to $2,024.49 per ounce. US gold futures also fell 0.1 percent to …

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  • 19 December 2023 1:10 am

    Market Drivers – US Session, December 17

    The US Dollar Index ended Monday’s quiet session unchanged at 102.60. US 10-year yield increased slightly, but it remained below 4%. Wall Street saw increases in stocks, as the Dow Jones hit a new all-time high.Despite rising yields, gold only slightly increased and fell short of regaining $2,030. XAU/USD is …

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  • 19 December 2023 1:02 am

    USD/CHF lower ahead of PCE data

    The USD/CHF pair has started the week down due to the US Fed’s dovish surprise and the looming release of Personal Consumption Expenditures (PCE) data from November. The pair’s movements reflect the continued softness of the dollar, which came in the wake of the Fed’s dovish surprise and ahead of …

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  • 19 December 2023 12:06 am

    The GBP/JPY pair fluctuates ahead of looming BoJ rate announcement

    BoJ Governor Ueda will be closely watched by observers for any indications of a hawkish stance. Over the course of the year, UK inflation is predicted to print slightly lower than it did in the near term.Monday saw a test of the GBP/JPY pair back into the 181.00 handle, but …

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  • 18 December 2023 11:35 pm

    US Stocks add to seven-week gains as S&P 500 rises

    Monday saw gains in US stocks as the market continued to show signs of strength after a seven-week winning run. The Dow Jones Industrial Average increased by 0.02%, or 7 points. The Nasdaq Composite gained 0.7%, while the S&P 500 increased by 0.5%.The overall index is currently just over 1% …

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  • 18 December 2023 9:20 pm

    WTI surges on geopolitical tension amid supply disruptions concerns

    Middle East geopolitical concerns have caused a more than 2% increase in WTI crude oil prices. Attacks on ships by a militant organisation associated with Iran that disrupt oil shipping routes across the Red Sea serve as the impetus for the rally. The price of WTI is supported by geopolitical …

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  • 18 December 2023 8:41 pm

    USD/JPY edges higher ahead of BoJ decision, rising US yields

    With a little upward trend, the USD/JPY pair moved up near the 143.00 mark. The BoJ meeting on Tuesday is anticipated by markets, which could influence the pair’s short-term trajectory. Japan’s political scandals might force the Bank of Japan to abandon its negative interest rate strategy.US bond yields rose, which …

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  • 18 December 2023 7:56 pm

    US dollar declining as markets digest Fed’s stance

    The US dollar has experienced uneven trading activity due to remarks by Mester and Austan Goolsbee. The US Dollar Index increased on Friday, but not enough to alter market perception. Hedge funds and banks are urging a goldilocks scenario as a way for the markets to oppose the Federal Reserve’s …

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  • 18 December 2023 5:19 pm

    Statement: BP temporarily suspends all transportation operations through the Red Sea

    British Petroleum, the leading oil company, said on Monday that it was temporarily suspending all transportation operations through the Red Sea after attacks launched by the forces of the Houthi group, which controls most of Yemen at the weekend. The company added in a statement: “The safety and security of …

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  • 18 December 2023 4:16 pm

    Minister: Ukraine’s GDP will grow by more than 5% in 2023

    Ukraine’s gross domestic product (GDP) is likely to grow by more than five percent in the first 11 months of 2023 after a 28.9 percent decline, Ukrainian Economy Minister Yulia Sviridenko said on Monday. percent in the same period last year. She added that the government expects GDP to grow …

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  • 18 December 2023 2:22 pm

    European stocks decline under pressure from real estate stocks

    European stocks fell on Monday, pressured by a decline in real estate stocks, at a time when sentiment was affected after senior officials in the European Central Bank reduced the possibility of cutting interest rates soon. The European STOXX 600 index fell 0.3 percent by 0811 GMT, after recording its …

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  • 18 December 2023 12:43 pm

    Nikkei closes lower ahead of BoJ decision

    Japan

    Japan’s Nikkei index ended trading on Monday with a decline as investors remained cautious as they awaited indications from Central Bank of Japan Governor Kazuo Ueda regarding a possible change in ultra-loose monetary policy. The Nikkei fell 0.64 percent to close at 32,758.98 points, and the broader Topix index fell …

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  • 18 December 2023 11:22 am

    Gold rises on the back of declining bond yields

    Gold prices rose on Monday, supported by weak bond yields, as investors awaited US inflation data scheduled to be published later this week in search of more indications about the path the Federal Reserve will take on interest rates after an easing trend last week. Gold rose in spot transactions …

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