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Market Analysis

May, 2023

  • 11 May 2023 1:55 am

    AUD/USD higher on softer US dollar following CPI data

    The AUD/USD pair is higher on the day during the American trading session by about 0.2% after traveling from a low of 0.6778 to reach a high of 0.6818 so far. Risk has bounced again in late Wall Street and that has taken the high beta currencies higher. The ongoing …

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  • 11 May 2023 12:48 am

    After CPI, WTI holds around the $72.80s, down on the day.

    Following a string of news stories that put pressure on crude prices, WTI is consolidating. Risk-off sentiment and business data cause crude to decline by more than 1%.After the United States reported that inflation in April fell for a tenth consecutive month, WTI crude is down on the day by …

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  • 10 May 2023 11:48 pm

    Gold rebounds after trading lower on profit taking

    Gold prices edged lower on Wednesday as optimism over the Federal Reserve cutting interest rates faded after the US inflation report. Spot gold was down 0.2% at $2,030.70 per ounce before rebounding to $2,031.48 at the time of writing. US gold futures settled 0.3% lower at $2,037.10. Gold rose as …

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  • 10 May 2023 10:05 pm

    Explainer: Wall Street’s calm is byproduct of debt ceiling woes

    Wall Street has identified its own X-date in late May, and if there is no major movement in Congress by then, it is expected that some major market volatility is looming. The US government is running out of money, and if Congress doesn’t act to raise or suspend its self-imposed …

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  • 10 May 2023 8:33 pm

    Has Wednesday’s CPI data brought about any surprises?

    The CPI figure for April mostly matched expectations. The 0.4% increase in both the headline and core CPI indicated a gradual rather than a fast improvement in the inflation environment. An increase in petrol prices in April was partially offset by falling grocery store prices and energy service costs, and …

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  • 10 May 2023 7:21 pm

    Sterling soars to fresh highs after US Inflation data

    Sterling soars to fresh highs after US Inflation data The Pound Sterling (GBP) has risen sharply versus the US Dollar (USD) after the release of US Consumer Price Index (CPI) data for April. This data has given the broader long-term GBP/USD uptrend impetus to extend. The Pound Sterling (GBP) rallies …

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  • 10 May 2023 4:11 pm

    BoE Preview: to continue to hike in 25 bps steps

    uk

    The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …

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  • 10 May 2023 2:56 pm

    Futures lower as focus shifts to inflation data

    US stock index futures fell on Wednesday as investors anticipated a crucial inflation data to determine if the Federal Reserve was effective in bringing down increasing costs. The Consumer Price Index (CPI) is predicted to have increased 0.4% last month after increasing 0.1% in March, while the so-called core CPI …

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  • 10 May 2023 12:40 pm

    Turkish industrial output rose 5.5% in March

    Official Turkish data showed on Wednesday that the country’s industrial output jumped 5.5 percent in March on a seasonally adjusted basis and in light of calendar factors from the previous month, a month after devastating earthquakes hit the south of the country. The Turkish Statistical Institute said output fell 0.1 …

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  • 10 May 2023 12:13 pm

    A slight rise in European stocks ahead of US inflation data

    European stocks rose slightly on Wednesday, with Credit Agricole stock rising after posting positive earnings, while investors awaited US inflation data that is likely to set expectations for a rate cut in the world’s largest economy. The pan-European Stoxx 600 index was up 0.1% by 0704 GMT. The US consumer …

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  • 10 May 2023 11:40 am

    Japan’s Nikkei index is retreating from a 16-month peak amid profit-taking

    Japan’s Nikkei index retreated from a 16-month peak on Wednesday as cautious investors looked to book profits ahead of key US inflation data that could influence the Federal Reserve’s path on monetary policy. The results of the business of some companies also cast a shadow on their performance, as the …

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  • 10 May 2023 11:11 am

    German CPI rose 7.6% y/y in April

    Germany’s federal statistics office said on Wednesday that the consumer price index rose 7.6 percent year-on-year in April, confirming earlier preliminary data. The bureau added that the index rose 0.6 percent compared to March.

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  • 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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