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Market Analysis

April, 2023

  • 18 April 2023 12:36 pm

    Japan’s Nikkei closed higher for the eighth consecutive day

    Japan’s Nikkei rose for the eighth straight session on Tuesday, supported by gains made by banks on positive US data, and a weaker yen boosted exporters. The Nikkei index rose 0.51% to close at 28,658.83 points, close to its highest level so far this year, in the longest streak of …

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  • 18 April 2023 11:58 am

    Gold rises with the decline of the dollar

    Gold prices rose on Tuesday as the dollar weakened, as investors await more clues about the Federal Reserve’s interest rate path. Spot gold rose 0.2 percent to $2,001.09 an ounce by 0457 GMT. And US gold futures rose 0.2 percent to 2011.10 dollars. The dollar index fell 0.1%, making bullion …

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  • 18 April 2023 5:23 am

    Market Drivers – US Session 17/04/2023

    On Monday, the US Dollar Index increased for the second day in a row as the chances of the Fed raising rates again at its May meeting increased and the possibilities of a rate cut later in 2023 decreased. Data from the US exceeded forecasts, with the Empire Manufacturing Index …

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  • 18 April 2023 4:56 am

    Gold recovers on US dollar’s correction

    A slight pullback in the USD Index coincided with an effort at a recovery in the gold price, which scaled to close to $1,994.60. It would not be reasonable to view Gold’s upward trend as a reversal given the strong odds on another Fed rate hike.The Fed’s Beige Book will …

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  • 18 April 2023 3:11 am

    USD/CAD rebounds on stronger US dollar, Oil price

    After a two-day recovery from its lowest points since mid-February, the USD/CAD steadily climbs upward. The US dollar applauds hawkish Fed expectations and optimistic yields to continue the recovery from the previous week. The present oil price is affected by the stronger dollar, concerns about the economy’s recovery, and apprehension …

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  • 18 April 2023 2:00 am

    US equities advance following earliest batch of corporate earnings

    Monday’s trading session saw an increase in US stocks as another round of crucial earnings started. Following the fall of Silicon Valley Bank last month, investors are still paying close attention to financial institutions’ earnings. The technology-heavy Nasdaq Composite (IXIC), the S&P 500 (GSPC), and the Dow Jones Industrial Average …

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  • 18 April 2023 12:18 am

    Why is Wall Street worried about US debt ceiling?

    House Speaker Kevin McCarthy traveled to the New York Stock Exchange Monday to deliver a warning to Wall Street about the debt ceiling crisis.There is a growing chance Washington “will bumble into the first default in our nation’s history,” the Republican said on his 100th day as House Speaker, adding …

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  • 17 April 2023 10:43 pm

    USD/JPY gains momentum on surging US Treasury yields

    The USD/JPY pair hit new five-week highs at 134.57; it is currently trading at 134.42, with bulls seeking 135.00. The USD/JPY oscillators favour more upward movement. Below 134.00, there are dangers on the downside that could push the USD/JPY rate as low as 133.00. Following the Federal Reserve (Fed) policymakers’ …

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  • 17 April 2023 9:47 pm

    Gold extends slide amid dollar strength

    Gold price resumed downside on Monday, fall to the $1,980$ area. The Us Dollar rises across the board, boosted by higher US yields.Gold price resumed the downside on Monday, breaking under $1,990. XAU/USD bottomed at $1,980 reaching the lowest level in a week. The precious metal is trading at 1995.70, …

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  • 17 April 2023 7:24 pm

    EUR/USD falls Fed’s pivot speculations

    The EUR/USD pair falls for the second straight day, as sellers are eyeing 1.0800. US New York Empire State Manufacturing Index climbed for the first time in five months. The pair losses traction on technical reasons and on a stronger US Dollar (USD, as speculations that the US Federal Reserve …

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  • 17 April 2023 6:32 pm

    Explainer: What does US warning over Russian oil price cap mean?

    The US Treasury has warned US companies of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the department said it is aware of reports that …

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  • 17 April 2023 5:18 pm

    Oil slips as recession fears loom over economic data

    Oil prices moved lower on Monday as investors deliberated over a likely May interest rate hike by the U.S. Federal Reserve, which might hamper economic recovery hopes, despite Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 55 cents or 0.6% at $85.76 …

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  • 17 April 2023 2:30 pm

    European stocks rise ahead of earnings announcements from more large US banks

    European stocks rose on Monday as investors expected major US banks to continue reporting strong quarterly earnings this week, while also looking forward to the Federal Reserve ending its interest rate hike cycle. The European STOXX 600 index rose 0.3 percent after hitting its highest level in more than a …

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