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Market Analysis

October, 2023

  • 9 October 2023 7:39 pm

    Gold price finds momentum on deepened Middle East tensions

    Gold prices have recovered to around $1,850 due to the dismal market sentiment prompted by escalating tensions between Israel and Palestinians. The gold price is trading at $1852.43 per ounce at the time of writing. Dallas Federal Reserve Bank President Lorie Logan has also supported the gold price, drawing less …

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  • 9 October 2023 5:34 pm

    Q4 Fundamental Outlook for Japanese Yen: Bearish Start, Potential for Year-End Revival

    During the third quarter, the Japanese yen faced continued losses against the U.S. dollar, driven by the differing monetary approaches of the Bank of Japan and the Federal Reserve. The Federal Reserve, aiming to restore price stability, aggressively raised borrowing costs, leading to the highest benchmark rate since 2002 and …

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  • 9 October 2023 4:33 pm

    Oil jumps more than $4 as markets are affected by violence in the Middle East

    Oil prices rose more than three percent on Monday, as clashes between Israel and the Palestinian Islamic Resistance Movement (Hamas) raised fears of a broader conflict in the Middle East. By 1143 GMT, Brent crude rose $2.70, or 2.2 percent, to $87.28 per barrel, while US West Texas Intermediate crude …

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  • 9 October 2023 2:20 pm

    OPEC raises its forecast for long-term oil demand

    The Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand in the medium and long term in an annual forecast, saying $14 trillion in investments are needed to meet that demand even as the use of renewable fuels increases and more electric cars appear on …

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  • 9 October 2023 1:22 pm

    Gold shines as investors hedge amid turmoil in the Middle East

    Gold prices rose more than one per cent on Monday, as the outbreak of violent clashes between Israeli forces and the Palestinian Islamic Resistance Movement (Hamas) over the weekend increased the risk of a broader conflict in the Middle East and stimulated interest in investing in safe havens such as …

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  • 9 October 2023 12:20 pm

    European stocks decline under pressure from the consequences of the conflict in the Middle East

    Most European stock markets opened lower on Monday as the ongoing clashes in the Middle East led to a rush towards safe haven assets such as bonds and gold, and oil prices rose by more than three percent. The European STOXX 600 index fell 0.2 percent by 0710 GMT, with …

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  • 9 October 2023 10:24 am

    Dollar and yen rise after Hamas attack undermines morale

    The safe-haven dollar and Japanese yen rose on Monday after violence in the Middle East spooked markets, while a strong US jobs report gave the greenback a bigger boost. The appetite for risk declined after Israeli forces clashed with gunmen from the Palestinian Hamas movement at the beginning of the …

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  • 9 October 2023 9:02 am

    Oil jumps more than $4 as markets are affected by violence in the Middle East

    Oil prices jumped more than $4 a barrel in early Asian trading on Monday, as political uncertainty worsened across the Middle East following the outbreak of violent clashes between Israeli forces and Hamas over the weekend. The rise in oil prices came to reverse the downward trend last week, which …

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  • 9 October 2023 6:13 am

    Financial Markets’ Weekly Recap, October 2-6

    Following a significant spike in T-bond yields, the market has momentarily stabilized, but Americans continue to borrow heavily despite Fed Chair Jerome Powell’s 18-month efforts to alter their borrowing and spending habit.Middle East tensions could boost gold, US dollarTensions in Palestine are causing investors to seek safe-haven assets and monitor …

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  • 6 October 2023 11:46 pm

    US stocks rally following robust NFP data

    After the release of stronger-than-expected US jobs data and a spike in Treasury yields, stocks rose on Friday. The Nasdaq Composite surged 1.7%, the S&P 500 added 1.4%, and the Dow Jones Industrial Average increased by 414 points, or 1.2%. With wages growing less than anticipated last month, the Labour …

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  • 6 October 2023 11:36 pm

    All attention shifts to US inflation data

    Inflation in the US is expected to moderate in September. In an otherwise quiet week for economic data releases, everyone’s attention will be focused on U.S. inflation figures. In September, CPI growth may have appeared a little better; economists anticipate a deceleration to a 3.5% year-over-year pace from 3.7% in …

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  • 6 October 2023 10:19 pm

    EUR/USD pair higher following NFP data

    Following the release of the US NFP, the EUR/USD pair gains significantly, rising 1.12% off the day’s low. Following a strong NFP result for the USD, broad market flows have turned decisively risk-on.Investor confidence data for October will be released on Monday, and this is what euro traders will be …

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  • 6 October 2023 8:43 pm

    Hot US NFP data drags USD/CHF pair lower

    While US NFP data jumps to a healthy 336K, the USD/CHF plunges to a weekly low of 0.9074. The US dollar’s upward trend falters as the DXY index retreats by 0.34% and drops back below the critical 106.00 level.To predict future USD/CHF dynamics, the market will be watching Fed officials, …

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