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Market Analysis

June, 2023

  • 14 June 2023 7:42 pm

    Gold surges on falling T-yields ahead of FOMC decision

    Gold price surges as falling US Treasury bond yields enhance the appeal of the non-interest-bearing asset. May PPI data from the US BLS comes below expectations, supporting the precious metal. The US dollar Index falls to a four-week low, expecting a rescue from a hawkish Jerome Powell. At the time …

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  • 14 June 2023 4:30 pm

    IEA: Global oil demand will grow by 2.4 million bpd this year

    OPEC

    The International Energy Agency (IEA) claimed in its latest oil market analysis, published on Wednesday, that “global oil demand will grow by 2.4 million bpd this year, to a record 102.3 million bpd.” The shift to a clean energy economy is picking up pace.A peak in global oil demand is …

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  • 14 June 2023 3:23 pm

    US: Annual PPI rises 1.1% in May vs.1.5% expected

    Retail Sales

    The Producer Price Index (PPI) for final demand in the United States grew 1.1% year on year in May, down from 2.3% in April, according to data released on Wednesday by the US Bureau of Labour Statistics. This number was lower than the 1.5% expected by the market. It is …

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  • 14 June 2023 2:25 pm

    Stability of European stocks ahead of the US interest rate decision

    European stocks opened flat on Wednesday ahead of the Federal Reserve’s widely expected decision to halt interest rate increases, while sports betting Entene shares tumbled after announcing a deal to buy another company. The European Stoxx 600 index settled at 463.49 points by 0709 GMT, while the travel and leisure …

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  • 14 June 2023 12:56 pm

    Gold shines with the decline of USD

    Gold prices rose on Wednesday, supported by a weaker dollar, as slowing US inflation boosted bets that the Federal Reserve will keep interest rates unchanged when it meets later in the day. And gold in instant transactions increased 0.3 percent to $ 1948.49 an ounce by 0500 GMT. US gold …

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  • 14 June 2023 11:21 am

    Dollar tends to decline amid increasing bets on Fed stopping rate hikes

    On Wednesday, the dollar hovered near a three-week low against the euro and near a one-month low against the British pound, after lower-than-expected inflation data cemented the view that the Federal Reserve will refrain from raising interest rates this time when it makes its decision. later in the day. The …

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  • 14 June 2023 10:11 am

    The OPEC+ alliance gives Russia a higher base level of production

    OPEC

    The OPEC+ alliance said on Tuesday that it had given Russia a higher base level for oil production after it agreed to work with a number of research institutions and agencies to revise its production figures. The Organization of the Petroleum Exporting Countries (OPEC) uses base levels related to oil …

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  • 14 June 2023 9:42 am

    Oil is stable as the market awaits US interest expectations

    Oil prices rose slightly in Asian trading on Wednesday morning, as investors await the results of the Federal Reserve meeting for the month of June, key economic data from China and government data on US crude stocks. By 0340 GMT, Brent crude futures rose nine cents, or 0.1 percent, to …

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  • 14 June 2023 3:55 am

    Market Drivers – US Session – 13/06/2023

    Following the US CPI print, traders and investors as well as analysts turned their attention to the FOMC meeting and the looming policy decision. Chair Powell’s press conference and the latest Summary of Economic Projections are expected to signal that one more rate hike is still on the table.Before the …

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  • 14 June 2023 3:38 am

    How Have Hong Kong Banks benefited Rate Hikes?

    Hong Kong banks have benefited from rising interest rates and growing business opportunities after the border reopening this year, although uncertainties around the recovery in mainland China and in the city and the simmering property debt will provide a drag. Lenders in the city remain cautious in lending to Chinese …

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  • 14 June 2023 12:39 am

    US equities celebrate inflation data as bets on Fed’s pause increase

    The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia (NVDA.O) jumped 3.9%, becoming the first chipmaker to end a trading session with …

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  • 13 June 2023 11:53 pm

    FOMC expected to sound hawkish with or without a pause

    Based on the latest remarks by Fed Chair Jerome Powell and the latest statements by Fed officials about monetary policy tightening in the US, major banks expect the Fed to take a break but signal higher rates ahead, meaning that the battle against inflation is not over, with a special …

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  • 13 June 2023 10:49 pm

    WTI benefits from weaker US dollar

    The American benchmark crude oil, WTI recovers, trading at $69.44 per barrel following the US inflation report.China’s rate cut sparks an increase in WTI price due to a potential surge in oil demand. Saudi Arabia’s proposed crude output cut is expected to tighten the global market in July. The US …

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