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Market Analysis

August, 2023

  • 22 August 2023 2:59 am

    EUR/USD steadies around 1.0900 post Germany’s Buba Monthly Report

    After six straight days of losses, the EUR/USD is now trading near 1.0900. at the time of writing, the pair is seen at 1.0895. Upside inflation concerns were alluded to in the German Buba Monthly Report, which encouraged hawkish bets on the European Central Bank. Investors are looking forward to …

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  • 22 August 2023 1:51 am

    How has gold price reacted to bond market turmoil?

    On Monday, the price of gold kept falling as the bond market turbulence persisted. The XAU/USD pair fell to its lowest point since March 14th, 1,880. Its decrease from this year’s peak is greater than 9.3%. At the time of writing, the precious metal is selling for $ 1894.69 per …

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  • 22 August 2023 12:52 am

    GBP/USD pair surges on prodding UK economic concerns

    After recording its first weekly gain in five weeks, GBP/USD gradually increases. The opposition Labour Party in the UK projects the weakest growth among the G7 nations. Bullish triangle formation and an impending bull cross on the MACD tempt purchasers of cable.Bulls breached boundaries early on Tuesday in Asia, breaking …

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  • 21 August 2023 11:59 pm

    China’s economy at risk on accelerating impact of real estate crisis

    Land sales and personal budget cuts are being greatly impacted by the real estate crisis in China, which has reduced retail sales, investment, exports, and industry output. After three years, the government’s “zero covid” initiatives have not generated the promised roar but rather a whimper. Two-thirds of personal wealth and …

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  • 21 August 2023 9:57 pm

    WTI under pressure as China’s economy slows

    Following China’s rate cut and the significant drive for greater lending, which indicate a deteriorating economy, WTI crude declined by 0.95 percent. Pessimism is increased by the significant 31% decline in Saudi Arabia’s oil shipments to China in July.The US rig count is falling, indicating a likely tightening of the …

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  • 21 August 2023 8:52 pm

    USD/JPY jumps following China’s unexpected rate cut

    The USD/JPY pair soared above 146.00, posting daily gains of more than 0.60%. Following the PBoC rate drop, the Yen is slipping. The pair is trading at 146.16 at the time of writing.On Thursday’s session, investors anticipate the annual Jackson Hole Symposium. The USD/JPY is up around 146.20 at the …

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  • 21 August 2023 7:46 pm

    NY Fed Survey: Expected wage for a new job rises to record high in July

    The Federal Reserve Bank of New York’s latest the SCE Labor Market Survey revealed that the lowest wage respondents would be willing to accept for a new job jumped to a record high of $78,645 in July, up from $72.873 a year ago.The US Dollar Index showed no immediate reaction …

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  • 21 August 2023 4:07 pm

    JPMorgan sees Japan’s threshold for yen intervention at around 150 yen per dollar

    The yen was trading at 145.87 to the dollar on Monday, having been as weak as 146.56 last week. “We think that the MoF (Ministry of Finance Japan) will not intervene in the FX market at around (the) 145 level. Our threshold level of JPY buying intervention is around 150,” …

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  • 21 August 2023 3:05 pm

    Oil rises after expectations of OPEC + exports cuts in August

    Oil prices rose on Monday as global supply tightened due to reduced exports from Saudi Arabia and Russia outweighed concerns about global demand growth amid high interest rates. And by 0301 GMT, Brent crude oil prices rose 75 cents to 85.55 dollars a barrel. West Texas Intermediate crude rose 80 …

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  • 21 August 2023 2:14 pm

    European stocks rise with the support of the energy and healthcare sectors

    European stocks opened higher on Monday, supported by the rise of energy stocks, with the rise in global oil prices, and the rise in health care stocks, thanks to the strong performance of the Danish pharmaceutical company, Novo Nordisk. The pan-European Stoxx 600 index was up 0.4 percent by 0712 …

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  • 21 August 2023 12:30 pm

    Gold regains its balance as all eyes turn to the Central Banks meeting

    Gold prices rose from five-month lows on Monday, after falling in the past five sessions, as investors’ focus turned to a meeting of central bankers in Jackson Hole, Wyoming, this week in anticipation of their outlook on the economy and interest rates. Spot gold rose 0.3% to $1,892.88 an ounce …

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  • 21 August 2023 12:02 pm

    The Japanese Nikkei index rises and ends a 3-day losing streak

    Japan’s Nikkei closed higher on Monday as investors tread carefully after last week’s huge losses and weather disappointment over China’s small interest rate cut. The Nikkei ended trading up 0.37 percent at 31,565.64 points on Monday, ending a three-day losing streak. The index fell 3.15 percent last week, its worst …

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  • 21 August 2023 4:03 am

    Financial Markets’ Weekly Recap, August 14-18

    Eurozone Eurozone inflation has slowed further, and underlying price pressures appear to have peaked, according to Eurostat statistics released on Friday, lessening pressure on the European Central Bank to continue raising rates following its quickest rate-hike cycle on record. To confront a historic increase in inflation, the ECB has raised …

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