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Market Analysis

May, 2023

  • 10 May 2023 3:23 am

    Market Drivers – US Session – Mon. 09/05/2023 The US dollar rose against its main rivals, with the US Dollar Index (DXY) rising by 0.25% and posting gains for the second day in a row. However, the index still remains near the key support level of 101.00. Wall Street dropped …

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  • 10 May 2023 2:16 am

    Airbnb drops 10% after earnings report offers cautious Q2 outlook

    Shares of Airbnb fell in extended trading Tuesday after the company released first-quarter earnings that beat analyst estimates but offered slightly weaker-than-expected guidance and a cautious outlook for the current quarter.Airbnb swung to a net profit of $117 million from a net loss of $19 million during the year-earlier period, …

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  • 10 May 2023 1:04 am

    S&P500 Futures, yields depict cautious optimism despite US default woes

    Market sentiment remains divided as debt-ceiling talks fails ahead of the US inflation report. The S&P500 Futures print mild gains, US 10-year Treasury bond yields snap four-day winning streak. Updates about US default, banking fallouts can entertain traders ahead of US CPI for April. Risk profile stays sluggish during early …

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  • 10 May 2023 12:07 am

    WTI defends four-day winning streak ahead of US inflation data

    WTI bulls take a breather after four-day uptrend, sidelined of late. US SPI refill concerns, geopolitical woes join sluggish US Dollar to favor Oil buyers. Mixed sentiment, recession fears and US debt-ceiling jitters weigh on commodity price.WTI crude oil remains static around mid-$73.00s amid the early hours of Wednesday’s Asian …

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  • 9 May 2023 11:04 pm

    Biden, McCarthy divided over debt ceiling but talks continue

    US President Joe Biden and top lawmakers failed to break a deadlock on Tuesday in face-to-face talks over raising the $31.4 trillion US debt limit but vowed to meet again with just three weeks before the country may be forced into an unprecedented default.Biden called the meeting “productive” and reported …

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  • 9 May 2023 9:55 pm

    Gold climbs amid US debt ceiling woes, declining T-yields

    The Gold Index XAU/USD rallies on Tuesday, benefiting from concerns over the US debt ceiling and slowing Chinese manufacturing activity.Falling US Treasury bond yields support gold prices despite strong US Dollar. Eyes are focused the upcoming US CPI data, which has the potential to impact gold prices. Gold price is …

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  • 9 May 2023 8:43 pm

    Sterling trades back above 1.2600 ahead of BoE’s decision

    The British pound drops to around the 1.26 handle ahead of key macroeconomic events for the week.  The Pound Sterling is likely to be impacted by the Bank of England meeting on “Super Thursday”. The US Dollar will look for impetus from the US Consumer Price Index data for April …

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  • 9 May 2023 7:36 pm

    US dollar rebounds amid sour market sentiment

    US Dollar manages to stay resilient against its major rivals on Tuesday. US Dollar Index clings to modest daily gains following Monday’s rebound. April inflation data from the US could trigger the next big reaction in USD.The US Dollar shook off the selling pressure at the beginning of the week …

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  • 9 May 2023 4:55 pm

    Gold is rising as investors await US inflation data

    Gold prices rose on Tuesday as investors awaited US inflation data in search of indications of the monetary policy path of the Federal Reserve (US Central Bank) in light of continued economic uncertainty. By 1021 GMT, spot gold rose 0.5 percent to $2,030.43 an ounce, and US gold futures rose …

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  • 9 May 2023 2:58 pm

    Sterling is hovering at a one-year high as traders await the BoE’s decision.

    The Bank of England is expected to raise interest rates by 25 basis points this week, according to traders. The market is also anticipating significant US inflation numbers on Wednesday, which will give additional insight into the world’s largest economy’s fight against inflation. On Tuesday, sterling fell against the US …

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  • 9 May 2023 1:20 pm

    Gold is locked in a narrow range as investors await US inflation data

    Gold prices moved in a narrow range on Tuesday ahead of US inflation data, which investors are looking for clues to the Federal Reserve’s policy path. Spot gold remained unchanged at $2,023.41 an ounce, and by 0232 GMT, US gold futures were down 0.2 percent, at $2,030.10. US consumer price …

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  • 9 May 2023 12:33 pm

    European stocks declined with the decline in the Swedish SBB stock

    European stocks fell on Tuesday, with Sweden’s SBB leading the losers after the company postponed its dividend, while investors remained wary ahead of important US economic data. The pan-European STOXX 600 index was down 0.2% by 0706 GMT, as investors awaited US consumer price data later this week for clues …

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  • 9 May 2023 12:00 pm

    Japan stocks jump supported by strong corporate results

    Japanese stocks rose on Tuesday, with the Nikkei index recording its highest closing level in 16 months, supported by a rise in steelmakers’ stocks on the back of strong corporate earnings. JFE Holdings jumped 14.5 percent, its biggest gain in 14 years, after Japan’s second-biggest steelmaker expected profits to rise …

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