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Market Analysis

March, 2023

  • 10 March 2023 11:41 pm

    GBP/USD climbs on weaker US dollar post key NFP data

    The GBP/USD pair rallied almost 1% on Friday, following the US NFP data. Bulls struggle at the 200-day EMA, exacerbating a GBP/USD fall of 60 pips to current rates. GBP/USD recovers some ground getting ready to finish the week with minimal gains after bouncing off YTD lows at 1.1802, with …

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  • 10 March 2023 10:44 pm

    Italy expected to issue new retail bonds before summer

    Italy’s Treasury is preparing to launch new bonds dedicated to small savers in an effort to increase retail investors’ holdings of the country’s huge debt.Rome is trying to find new bond buyers for its over 2.760 trillion Euro ($2.92 trillion) debt – proportionally the second highest in the Eurozone – …

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  • 10 March 2023 9:43 pm

    Gold rises following US NFP data

    The precious metal was able to extend its gains during the American trading session, and the price of gold headed higher, touching a high of $1,842.55 immediately after the announcement of the US non-farm payroll data on the daily chart, after the release of the US jobs report for February, …

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  • 10 March 2023 8:42 pm

    US stocks nosedive post US jobs data

    US stocks nosedived on Friday morning after the key jobs report (NFP Data) came in warmer than expected and jitters over troubles at Silicon Valley Bank continued to weigh on markets.The S&P 500 declined by 0.9%, while the Dow Jones Industrial Average edged down 0.5%. Contracts with the technology-heavy Nasdaq …

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  • 10 March 2023 7:42 pm

    USD Index retreats to 104.10 on mixed US NFP

    USD Index weakens further post US Payrolls data. The Dollar Index extends its deflation to 3-day lows near 104.60. US yields drop further in the wake of the US jobs report. The US economy created more jobs than initially estimated in February.The dollar now loses further ground and breaks below …

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  • 10 March 2023 5:53 pm

    US Nonfarm Payrolls rise by 311,000 in February

    The data published by the US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls rose by 311,000 in February. This reading came in much higher than the market expectation of 205,000 and followed January’s print of 504,000 (revised from 517,000). Further details of the jobs report showed …

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  • 10 March 2023 4:20 pm

    Dow futures fall 100 pts; payrolls and banking sector in spotlight

    With the focus on the forthcoming employment data and the struggling banking sector, U.S. equities are expected to begin neutral Friday, recovering following the previous session’s selloff. At 12:00 GMT, the Dow Futures contract was down 100 points or 0.3%, the S&P 500 Futures contract was down 4 points or …

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  • 10 March 2023 2:42 pm

    Oil prices are heading for a weekly decline of 5% amid fears of a US interest rate hike

    Oil fell for the fourth session on Friday, heading to record its largest weekly loss in five weeks, due to fears of further US interest rate hikes, which would hurt fuel demand. By 0852 GMT, Brent crude futures were down 41 cents, or 0.5 percent, at $81.18 a barrel. West …

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  • 10 March 2023 1:19 pm

    European stocks sharply lower; banking sector hit hard

    Eurozone

    European stock markets traded sharply lower Friday as nervousness ahead of the widely-watched U.S. jobs report and weakness in the banking sector overshadowed better-than-expected U.K. growth data. At 08:40 GMT, the DAX index in Germany traded 1.7% lower, the CAC 40 in France dipped 1.9% and the FTSE 100 in …

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  • 10 March 2023 12:32 pm

    UK Manufacturing Production declines 0.4% MoM in January

    The latest UK industrial and manufacturing production figures issued by the Office for National Statistics (ONS) on Friday revealed a drop in industrial sector activity in January. Manufacturing production was -0.4% MoM in January, compared to -0.1% expected and 0% in December, while total industrial output was -0.3% MoM, compared …

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  • 10 March 2023 12:13 pm

    Turkish lira recorded a record low against the dollar

    The Turkish lira, which is prone to sharp fluctuations before normal trading time, stabilized early on Friday after tumbling 4.25 percent to a record low of 19.80 against the dollar on Thursday evening. By 0439 GMT, the lira had settled at 18.9575 against the dollar, the same closing level on …

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  • 10 March 2023 11:04 am

    Nikkei suffers the largest loss in 3 months

    On Friday, the Japanese Nikkei index suffered the largest loss in nearly three months, ending a series of gains that lasted for five sessions, under the weight of the decline in financial institutions shares, after a decision by the central bank to continue stimulus measures, which affected the expectations of …

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  • 10 March 2023 10:20 am

    Gold rose before the US jobs data

    Gold prices rose on Friday as investors awaited the US non-farm payrolls data, which is expected to be released on Friday, to assess the possible path of interest rate hikes by the Federal Reserve (US central bank). By 0716 GMT, spot gold rose 0.1% to $1832.24 an ounce, and US …

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