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Market Analysis

October, 2023

  • 18 October 2023 1:40 am

    Wall Street hesitates amid solid earnings, surging T-Yields

    US equities dipped and Treasury yields soared on Tuesday as strong economic data and strong third-quarter earnings suggested that the Federal Reserve will continue to tighten policy for an extended period of time.All three major US indices were slightly lower at the end of trading, with interest-rate-sensitive MegaCap shares taking …

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  • 18 October 2023 1:16 am

    Market Drivers – US Session, October 17

    In the Asian session, Chinese economic data including GDP figures will be the main focus, while RBA Bullock will be speaking at a panel discussion. At the same time, UK inflation data will be released during European trading hours.Economic DataIn the US, another round of positive economic data was released, …

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  • 18 October 2023 12:40 am

    Treasury yields spike following robust retail sales data

    Treasury yields soared after robust retail sales data caused traders to reassess their views on the length of the Federal Reserve’s tightening cycle.The benchmark 10-year note was last down 34/32, yielding 4.851% (versus 4.71% on Monday), while the 30-year bond was last down 42/32, yielding 3.9579% (versus 3.866% on Monday).The …

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  • 17 October 2023 10:26 pm

    Dollar retreats despite strong US economic activity data

    Despite encouraging economic activity data, the US Dollar has retreated from its daily highs. The dollar has been weakened by a supportive market environment and a risk-on flow. The US Treasury yields are close to their highest levels in two weeks, limiting the potential downside. The Federal Reserve has raised …

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  • 17 October 2023 9:14 pm

    EUR/USD climbs amid risk-on pulse following key US data

    The EUR/USD pair is on track for a higher opening on Tuesday as risk appetite returns to the markets after a brief respite. Investor sentiment is on the rise following a positive surprise in US Retail Sales, prompting the USD to take a breather. The pair is pushing higher amid …

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  • 17 October 2023 8:52 pm

    How far is Fed’s Powell stuck in interest rate debate?

    US Federal Reserve Chairman Jerome Powell is scheduled to make his final public appearance before the Fed’s policy-setting committee on Thursday. The speech is scheduled to take place before the committee’s October 31-November 1 policy meeting.Powell’s speech is expected to focus on the recent rapid increases in bond yields, which …

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  • 17 October 2023 7:55 pm

    Gold surges following US Retail Sales data

    Gold prices have seen an upward trend as US Retail Sales data showed a 0.7% increase in September, surpassing the expected 0.3% increase. This comes amid rising Middle-East tensions and the upcoming speech from Fed Chair Jerome Powell, who is expected to provide significant guidance on interest rates. Gold is …

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  • 17 October 2023 7:07 pm

    Sec. Yellen’s remarks raise fresh questions on digital services taxes

    US Secretary of the Treasury, Janet Yellen, has raised fresh questions about the possibility of the US signing a multilateral treaty as part of a global tax deal. Yellen, speaking on a trip to Luxembourg, said that the US will not be able to sign the multilateral treaty, which is …

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  • 17 October 2023 3:17 pm

    Gold is losing some luster ahead of Powell’s speech

    Gold prices fell on Tuesday as the dollar and US Treasury yields rose ahead of economic data and a speech by Federal Reserve Chairman Jerome Powell this week, which could shift the direction of upcoming interest rate decisions. Spot gold prices fell 0.1 percent to $1,916.88 per ounce by 0703 …

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  • 17 October 2023 2:00 pm

    USD is locked in a narrow range

    The dollar moved in a narrow range on Tuesday as investors evaluated developments in the Middle East and awaited a set of speeches by US central bank officials this week, most notably the speech of Federal Reserve Chairman Jerome Powell, seeking indicators about monetary policy expectations. The yen stabilized near …

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  • 17 October 2023 12:57 pm

    European stocks open lower with Ericsson and mining stocks falling

    European stocks fell in early trading on Tuesday, affected by a decline in Ericsson shares after disappointing quarterly results and a decline in shares of mining companies as investors monitored the risks resulting from the escalation of the conflict in the Middle East. The European STOXX 600 index fell 0.1 …

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  • 17 October 2023 12:28 pm

    Oil declines amid hopes for easing US sanctions on Venezuela

    Oil prices fell slightly on Tuesday after falling by more than a dollar on Monday amid hopes that the United States will ease sanctions on oil producer Venezuela and as Washington intensifies its efforts to prevent an escalation of the war between Israel and Hamas. By 0333 GMT, Brent crude …

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  • 17 October 2023 12:37 am

    Explainer: What Inevitable Problem Could Fed’s Policy Create?

    When the Fed raises interest rates and the yield curve inverts, someone will inevitably push the “big red button.” But this is also where the media is wrong about the 1995 “soft landing” scenario. The economy didn’t “soften” in 1995; crisis events did. But more importantly, when the yield curve …

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