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Market Analysis

June, 2023

  • 14 June 2023 3:38 am

    How Have Hong Kong Banks benefited Rate Hikes?

    Hong Kong banks have benefited from rising interest rates and growing business opportunities after the border reopening this year, although uncertainties around the recovery in mainland China and in the city and the simmering property debt will provide a drag. Lenders in the city remain cautious in lending to Chinese …

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  • 14 June 2023 12:39 am

    US equities celebrate inflation data as bets on Fed’s pause increase

    The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia (NVDA.O) jumped 3.9%, becoming the first chipmaker to end a trading session with …

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  • 13 June 2023 11:53 pm

    FOMC expected to sound hawkish with or without a pause

    Based on the latest remarks by Fed Chair Jerome Powell and the latest statements by Fed officials about monetary policy tightening in the US, major banks expect the Fed to take a break but signal higher rates ahead, meaning that the battle against inflation is not over, with a special …

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  • 13 June 2023 10:49 pm

    WTI benefits from weaker US dollar

    The American benchmark crude oil, WTI recovers, trading at $69.44 per barrel following the US inflation report.China’s rate cut sparks an increase in WTI price due to a potential surge in oil demand. Saudi Arabia’s proposed crude output cut is expected to tighten the global market in July. The US …

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  • 13 June 2023 9:45 pm

    AUD/USD hits five-week high amid cooling down CPI reading

    The AUD/USD pair gains 0.55%, trading at 0.6787 despite the US CPI data release. Fed is likely to delay rate hike as inflation cools down. Futures suggest hike likelihood at 58.2% next month. Despite the ongoing RBA tightening cycle, AUD boosted by marginal gain in Consumer Confidence. The AUD/USD pair …

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  • 13 June 2023 8:42 pm

    Could awaited rate decisions impact gold price?

    Gold is trading at $1945.45 at the time of writing, it is down by 0.60% at the time of writing as the stage is set for the major central banks in the world, particularly the Fed in the United States and the ECB in Europe.Economists and strategists point out how …

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  • 13 June 2023 7:37 pm

    T-yields climb as early inflation optimism fades

    US 10-year Treasury yields surged on Tuesday, reversing initial declines after economic data pointed to a slowing pace of rising inflation as investors now braced for the Federal Reserve’s policy announcement on Wednesday.The consumer price index (CPI) showed an annual increase in prices of 4% in May, slowing from a …

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  • 13 June 2023 2:19 pm

    Surprise UK wage jump raises bets on hiking interest rates

    uk

    Wage growth in the United Kingdom accelerated and employment increased in the three months to April, heightening predictions that the Bank of England will hike interest rates again, maybe multiple times, to combat persistent inflationary pressures. On Tuesday, data from the Office for National Statistics (ONS) showed that the employment …

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  • 13 June 2023 1:03 pm

    European stocks rise supported by the technology sector

    European stocks opened higher on Tuesday, supported by gains in technology stocks amid growing optimism that the Federal Reserve will not raise interest rates during its monetary policy meeting. The pan-European STOXX 600 was up 0.5% by 0715 GMT, with the interest rate-sensitive technology sector index up 1.5%. Investors are …

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  • 13 June 2023 12:28 pm

    Nikkei closes above 33 thousand points for the first time in 33 years

    Japan’s Nikkei index rose on Tuesday to close above 30,000 points for the first time in 33 years, supported by technology stocks amid expectations of an influx of investment into chipmakers. The index continued its rise for the third consecutive session, increasing 1.8 percent to 33,018.65 points, surpassing the important …

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  • 13 June 2023 11:50 am

    Dollar is falling amid anticipation of US inflation data and central bank decisions

    The dollar fell on Tuesday, but is trading in a narrow range, as investors remain cautious ahead of inflation data due in the United States later in the day, coinciding with the start of the Federal Reserve’s two-day monetary policy meeting. The Consumer Price Index report issued by the US …

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  • 13 June 2023 3:10 am

    CPI Preview: Forecast by 10 banks

    The US Bureau of Labour Statistics is expected to release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Tuesday, June 13 at 13:30 GMT. The forecasts by the economists and researchers of 10 major banks regarding the upcoming United States inflation reading give insight about …

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  • 13 June 2023 3:00 am

    Market Drivers – US Session – 12/06/23

    US equities opened the trading week with positive performance ahead of key US economic data and monetary policy events. Markets cheered the possibility of the Fed’s ending its rate hike cycle. Incoming economic data will be crucial, with the CPI reading, in particular.The Dow Jones gained 0.56% and the Nasdaq …

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