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Market Analysis

January, 2023

  • 10 January 2023 6:33 pm

    Powell speech: We are not and will not be a climate policymaker

    While speaking at Riksbank’s International Symposium on Central Bank Independence, FOMC Chairman Jerome Powell said the Federal Reserve’s independence from political influence is central to its ability to battle inflation, as reported by Reuters. Powell further noted that this independence requires the Fed to stay out of issues like climate …

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  • 10 January 2023 5:11 pm

    Gold steady as investors focus on Powell speech for rate guidance

     Gold prices held steady on Tuesday as traders looked ahead to U.S. Federal Reserve Chair Jerome Powell’s upcoming speech for more clarity about the central bank’s rate-hike plans. Spot gold was little changed at $1,870.89 per ounce by 1251 GMT, trading in a narrow $10 range. U.S. gold futures were …

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  • 10 January 2023 5:10 pm

    Microsoft in talks to invest $10 bln in ChatGPT owner Semafor

    Microsoft Corp (MSFT.O) is in talks to invest $10 billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29 billion, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture firms and deal documents were sent to prospective investors …

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  • 10 January 2023 2:38 pm

    Dollar fell with the easing of concerns about raising interest rates and optimism about China

    The dollar fell to near its lowest levels in 7 months against the other major currencies on Tuesday, January 10, influenced by investor optimism that the Federal Reserve may be close to ending the cycle of increasing interest rates and with the increasing demand for risky assets after the lifting …

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  • 10 January 2023 2:14 pm

    European stocks fall amid caution about US interest

    European stocks fell on Tuesday as investors became cautious ahead of a speech by Federal Reserve Chairman Jerome Powell after two US central bank monetary policymakers expected more interest rate hikes. The Stoxx Europe 600 index was down 0.7 percent by 0811 GMT, after hitting an eight-month high in the …

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  • 10 January 2023 12:41 pm

    Nikkei closed at the highest level in two weeks supported by technology stocks

    Japan

    The Nikkei index of Japanese stocks closed at its highest level in two weeks on Tuesday, thanks to a jump in technology stocks, but caution ahead of the Bank of Japan meeting next week limited gains. The Nikkei index ended trading up 0.78 percent at 26,175.56 points, its highest level …

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  • 10 January 2023 5:09 am

    Market Drivers – US Session 09/01/2023

    The US dollar started the trading week with losses amid optimism weighing on the American currency’s safe-haven standing. Investors and traders are assessing US macroeconomic data published on Friday, which suggests the Federal Reserve could slow the pace of tightening after wages-linked data.The EUR/USD pair hit 1.0760, holding on to …

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  • 10 January 2023 4:33 am

    USD/CHF rebounds ahead of Powell’s speech

    The USD/CHF pair has attracted more demand after a marginal correction closer to the 0.9200 mark amid positive risk appetite that is obviously cautious and keeping an eye on the performance of rising US Treasury yields.Fed Bostic, on Monday, said that no recession in CY2023 but has trimmed his GDP …

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  • 10 January 2023 2:06 am

    GBP/USD surpasses 1.2150, benefits from weaker US Dollar

    The Pound Sterling advances against the US Dollar during the US trading session due to the market’s positive sentiment boosted by expectations that the US Federal Reserve would slowdown the pace of upcoming rate hikes.This expectation comes during the week that will witness the key CPI data, inflation report in …

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  • 10 January 2023 12:07 am

    Bitcoin rallies to 3-week highs ahead of US CPI

    Bitcoin has been stuck between $16k and $18.5k for 2 months, and currently, it has taken off above the $17,000 mark but doubts do exist among traders ahead of the key CPI data for December in the United States on Thursday, meanwhile, comments and remarks by Fed officials are closely …

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  • 9 January 2023 11:29 pm

    Why Is Wall Street Suddenly Celebrating On Monday?

    US equities had a surprise reason for celebrating with the first day of the second trading week in the new year. So far, in 2023, Wall Street has swung from sadness to joy.US Stocks are enjoying a robust year beginning after 2022’s disappointing performance. Even though the Dow fell more …

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  • 9 January 2023 10:39 pm

    Fed’s Bostic Prefers Holding Rates Above 5% For A Long Time

    Atlanta Fed President Raphael Bostic said the central bank should raise interest rates above 5% by early in the second quarter and then go on hold for “a long time.”Bostic said on Monday that it is ”fair to say that the Fed is willing to overshoot”, mentioning the likelihood that …

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  • 9 January 2023 9:48 pm

    AUD/USD hits fresh five-month high on weaker US dollar

    The AUD/USD pair is surging due to traders’ speculations that the US Fed would shift dovish. The US 10-year Treasury bond yield continues to edge lower, eyeing the 3.50% threshold and weighing on the USD.The AUD/USD pair sharply soars above the 0.6900 figure on speculations that the Fed would change …

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