The GBP/USD pair trades around 1.2070, holding on to modest intraday gains. The Euro is one of the weakest rivals of the US dollar. The shared currency is trading at 1.0716 as ECB policymakers repeated their hawkish language. ECB’s Klaas Knot said that headline inflation appears to have peaked but …
Read More »U.S. Stocks Rise on Strength in Chipmakers and AI Shares
U.S. equity markets opened the week higher, supported by strong performance in technology stocks, pa…
Canada inflation slows to 2.2% in October as gasoline, food and mortgage costs ease
Canada’s annual inflation cooled to 2.2% in October, helped by cheaper gasoline, slower grocery infl…
Oil slips as Novorossiysk resumes loadings; supply-risk premium cools
Crude prices eased Monday, giving back part of Friday’s surge after tanker-tracking data showed Russ…
Bitcoin pares losses after six-month low as Fed cut hopes fade; Japan weighs tougher crypto rules
Bitcoin trimmed part of its slide on Monday but stayed under pressure, with fading expectations of a…
European Stocks Edge Lower as Global Growth Worries Linger; Nvidia Earnings Loom
European equities drifted lower at the open on Monday, with investors uneasy about global growth and…
Gold Extends Losses as Markets Fade Odds of December Fed Cut; Dollar Firms Ahead of Data
Gold fell in Asian trading Monday, extending last week’s pullback as traders further priced out the …
Asia Stocks Slip as Japan GDP Contracts; Nvidia Earnings Keep Tech on Edge
Asian equities edged lower Monday, with Japanese shares under pressure after data showed the economy…
Weekly market recap: Fed is expected to send cautious messages after reopening
Last week in the financial markets was packed with significant developments—both on the economic fro…
Oil Prices Leap as Ukraine Strike Rekindles Fears of Supply Disruptions
Oil markets surged on Friday after a new wave of Ukrainian drone strikes hit a major Russian export …
Fed Signals Disinflation Ahead Amid Border Policy Shift
The U.S. Federal Reserve has signaled that recent changes in border policy may help ease inflationar…
Market Analysis
February, 2023
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9 February 2023 3:12 am
Biden confirms US intention to compete with China, not seeking conflict
US President Biden confirmed that relations with China have not taken a big hit. “We intend to compete completely with China but we are not seeking conflict, as that has been the case so far,” Biden said during a PBS interview late Wednesday.Biden’s comments join the recent statements from US …
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9 February 2023 2:05 am
Yellen: Inflation elevated, but encouraging signs do exist
US Treasury Secretary Janet Yellen said on Wednesday “Over the past two years, we have worked successfully to ease supply chain pressures, and that includes funding pop-up container yards and moving several ports to 24/7 operations.”“While inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many …
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9 February 2023 1:12 am
USD/CAD bulls step between dovish BoC, hawkish Fed
The USD/CAD bulls are moving ahead despite Tuesday’s bearish close. The US Dollar has firmed on hawkish sentiment around the US Fed again versus seemingly dovish stance adopted by the Bank of Canada.. There is a 61.8% Fibonacci retracement level near 1.3350 below the neckline near 1.3380. However, given that …
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8 February 2023 11:45 pm
Bank of Canada’s summary of deliberations ahead of Jan rate hike
An account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023 was released on Wednesday as follows:“Members framed the decision along two dimensions: • whether to leave the policy rate where it was or to increase it by 25 …
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8 February 2023 10:17 pm
WTI surges to fresh highs on improved risk appetite
WTI is registering solid gains of 0.43% on Wednesday. Less hawkish comments by Fed Chair Jerome Powell seem to reinforce oil prices.The US crude oil benchmark, edges up by a margin of 0.50% as a risk-on impulse hits the market, which, worried about an astonishing US jobs report, expected a …
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8 February 2023 9:38 pm
Russia warns of consequences after UK fighter jet deliveries to Ukraine
British fighter jet deliveries to Ukraine would have military and political ramifications for the entire European continent according to the Russian embassy in London.The headlines from Tass follow Ukrainian President Volodymyr Zelensky’s call for deliveries of British warplanes to ensure a victory that would “change the world.”There has been little …
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8 February 2023 8:38 pm
Uber beats estimates, stock is up
Uber reported Q4 earnings on Wednesday that beat analysts’ estimates. In a prepared statement, CEO Dara Khosrowshahi said Uber ended 2022 with its “strongest quarter ever,” capping off its “strongest year.”For the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over …
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8 February 2023 7:40 pm
ECB’s Knot: Headline inflation appears to have peaked
On Wednesday, ECB policymaker Klaas Knot said that the headline inflation appears to have peaked, adding that keeping current pace of hikes into May could well be needed if underlying inflation does not materially abate.Knot’s comments do not seem to be helping the Euro gather strength against its rivals. As …
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8 February 2023 2:33 pm
European stocks hit the highest level in 9 months
European stocks hit their highest level in more than nine months on Wednesday, as investors got positive cues from Federal Reserve Chairman Jerome Powell’s comments on Tuesday, while the upbeat outlook of Linda and Akzo Noble led to higher materials stocks. Crude and chemicals. The pan-European STOXX 600 index was …
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8 February 2023 1:24 pm
Gold rises after Fed eased its stance on interest rates
Gold prices rose on Wednesday as the dollar retreated from a one-month peak after comments from Federal Reserve Chairman Jerome Powell deemed less hawkish. By 0744 GMT, spot gold rose 0.4 percent to $1880.97 an ounce, and US gold futures rose 0.4 percent to $1880.10. Lower interest rates benefit gold …
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8 February 2023 12:07 pm
Oil jumps for the third day
Oil prices rose in early trading on Wednesday, extending gains from the past two days, as the dollar fell after Federal Reserve Chairman Jerome Powell appeared less hawkish on interest rates than markets had expected, and as US crude inventories fell surprisingly. Brent crude futures rose 11 cents, or 0.1 …
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8 February 2023 12:05 pm
Japanese Nikkei index is falling affected by weak profits in tech
Japan’s Nikkei fell on Wednesday amid heavy selling in stocks of major technology companies such as Nintendo and SoftBank Group after disappointing financial results, dashing any hopes of capitalizing on Tuesday night’s gains on Wall Street. Investment group SoftBank fell 5.1% after posting a quarterly loss, while video game maker …
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