European shares rose on Wednesday, boosted by the strong performance of technology shares after a three-day sell-off, with inflation data in the region due for release during the session. The pan-European Stoxx 600 index rose 0.4% by 0716 GMT after three consecutive days of losses, but the index is heading …
Read More »Is Gold Price’s Recent Dip a Sign of Trouble or Opportunity?
Gold is down -0.06%, trading at $ 2,937.36 per ounce. Gold prices experienced a slight dip on Friday…
US Manufacturing Shows Resilience Amid Economic Uncertainties
Recent data reveals a mixed picture of US economic activity. The S&P Global Composite PMI for F…
GBP/USD Pulls Back After Reaching New Highs
The GBP/USD pair experienced a pullback after reaching a year-to-date high of 1.2678 and testing the…
British Pound Hits Two-Month High as UK Consumer Spending Surges
The British pound strengthened on Friday, reaching a two-month high, after strong UK consumer spendi…
Bitcoin Climbs for Third Straight Day but Faces Fed Policy Headwinds
Bitcoin extended its winning streak on Friday, rising for the third consecutive day, as some investo…
European Stocks Inch Higher as Traders Weigh Business Activity and Trade Tensions
European markets edged up on Friday, as investors assessed fresh business activity data and ongoing …
Wall Street Slips as Walmart Warning, Jobless Claims Spark Economic Fears
The Dow Jones Industrial Average plummeted over 1.40% to 43,980 on Thursday as investors grappled wi…
Market Drivers and Update; US Session: PMIs in Focus
The US dollar weakened significantly, reaching a two-month low despite no changes in US tariffs or p…
Looming Impact of Fresh EU Sanctions on Commodities Expected
The European Union’s latest round of sanctions against Russia, the sixteenth since the invasio…
Fort Knox’s US Gold Reserve to be Audited, Administration Says
The US Administration announced plans to audit the nation’s gold reserves stored at Fort Knox …
Market Analysis
August, 2022
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31 August 2022 12:03 pm
Japan stocks fall following Wall Street
Japanese stocks gained for the second consecutive month on Wednesday, even as the two major indexes closed lower on Wednesday, weighed down by losses from technology and energy blue-chip companies and Wall Street’s decline. The Nikkei index fell 0.37 percent to 28,091.53 points, while the broader Topix index fell 0.27 …
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31 August 2022 3:42 am
Market Drivers – US Session – Tuesday, August
The negative market sentiment slightly began to ease early on Tuesday, although investors are generally pessimistic.The US dollar gave up some gains during the first half of the US session, particularly against high-yielding rivals, but managed to rebound during the second half of the session. The American currency performed higher …
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31 August 2022 3:19 am
T-yields touch fresh highs amid inflation concerns
US Treasury yields surged on Tuesday, reversing rally after a better than expected rise in JOLTS data. The latest reading fueled investors’ concerns about the Fed’s hawkish stance and prospects of tightening the US monetary policy.Earlier on Tuesday, Some US government bond yields lightly retreated after inflation data from Europe …
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31 August 2022 2:59 am
Gold maintains downtrend ahead of US employment data
Gold price is wavering within the $1,723.03-1,727.20 zone as investors’ attention shifts to the awaited US Employment Change data.The positive US JOLTS Job Openings data granted the US Dollar Index further strength. The said data landed at 11.239M, higher than the expected 10.475M, surpassing prior reading of 11.04M. Gold price …
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31 August 2022 1:08 am
Could Softer Data Save Cryptos, Stocks From Red Territory?
Some key economic data are expected this week including the ISM manufacturing PMI Index, as well as nonfarm payrolls, respectively: an indicator of US economic activity and tracking measure of the total number of paid workers in the US.This week’s soft economic data could grant the crypto and stock markets …
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31 August 2022 12:45 am
US shares close lower post-JOLTS data
US shares have closed with losses for the third consecutive session, partially impacted by surging job openings. Each of the 11 S&P 500 sectors were in the red territory.Tuesday’s JOLTS data add more concerns around the hawkish stance adopted by the US central bank, just giving policymakers enough reasons to …
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30 August 2022 11:14 pm
What could JOLTS report tell about Fed’s direction?
Job openings have topped 11.2 million in July. That total also was nearly double the total pool of available workers, which stood at 5.67 million for the month. Available positions totaled 11.24 million for the month, in excess of the 10.3 million estimates, according to the Job Openings and Labour …
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30 August 2022 10:38 pm
GBP/USD pressured into fresh daily lows
From an hourly perspective, GBP/USD is decelerating into a 38.2% Fibonacci retracement level, so, the GBP/USD pair is down by some 0.45% on the day so far while risk assets see some recovery following the bumpy ride into Jackson Hole speeches.The sterling climbed to 1.1760 from 1.1621 on Tuesday in …
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30 August 2022 10:28 pm
Why Does Consumer Confidence Data Recover?
Tuesday’s report by Conference Board has showed a recovery in consumer confidence in August according to preliminary data. Several analysts have pointed out the rebound in confidence to its highest level since May 2022 took pace as fuel prices fell throughout the month and stock prices rose during the first …
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30 August 2022 9:43 pm
EUR/USD bounces above parity on hawkish ECB
Despite the US dollar’s strength, on Tuesday, the EUR/USD pair advances underpinned by ECB’s Governing Council members expressing the need for a 75 bps rate hike in September. US Consumer Confidence surprisingly surged, while job vacancies topped expectations.The ECB speakers were led by ECB Knot, who said he’s leaning towards …
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30 August 2022 9:10 pm
Best Buy’s earnings beat despite retreating sales
Best Buy earnings report is out, on Tuesday, with better than expected profits, but the quality of the earnings report is in focus. The electronics retailer saw US same-store sales tanked 12.7%, missing analyst estimates. Sales retreated in all product categories. And Q3 guidance hints had a slow start to …
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30 August 2022 8:39 pm
ECB’s Stournaras expects inflation to gradually decline in 2023
European Central Bank (ECB) Governing Council member Yannis Stournaras said on Tuesday that he expects inflation to peak this year before starting gradually decline in 2023, as reported by Reuters.Commenting on the economic outlook, Stournaras acknowledged that risks to growth are tilted to the downside. As for the market’s reaction, …
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