Bank of England Deputy Governor Dave Ramsden expressed confidence in the UK’s inflation trajectory, suggesting that a recent uptick in October’s CPI data is a temporary blip. He believes that inflation will continue to decline, allowing the central bank to maintain its easing monetary policy.Key points from Ramsden’s remarks:Inflation Outlook: …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
November, 2024
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20 November 2024 8:46 pm
Fed’s Cook: Could see a pause on rate moves if inflation progress slows
Federal Reserve Board of Governors member Lisa Cook noted on Wednesday that while she views the overall economic outlook within the US as fairly balanced, the Fed might get forced into a pause on rate cuts if inflation progress slows down while employment remains solid.Key QuotesIf the labour market and …
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20 November 2024 7:31 pm
GBP/USD Retreats After UK CPI
The GBP/USD pair experienced a sharp decline following the release of hotter-than-expected UK inflation data. This unexpected surge in inflation has heightened expectations of a less accommodative monetary policy stance from the Bank of England.Unless the pair can reclaim the 1.2700 level, the bearish trend is likely to persist. A …
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20 November 2024 7:03 pm
Is Eurozone’s Debt Crisis Looming?
The specter of a Eurozone sovereign debt crisis is once again haunting the continent. A confluence of factors, including elevated debt levels, sluggish growth, and fiscal slippage, has created a perfect storm that threatens to undermine the bloc’s economic stability. The European Central Bank (ECB) has sounded the alarm, highlighting …
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20 November 2024 4:39 pm
U.S. Futures Edge Higher Amid Earnings Optimism, Nvidia in Spotlight
U.S. stock index futures rose slightly on Wednesday, buoyed by optimism over retail earnings and anticipation for Nvidia’s quarterly results, even as geopolitical tensions in Eastern Europe introduced caution. At 05:45 ET (10:45 GMT), the Dow Jones Futures rose 70 points (+0.2%), the S&P 500 Futures gained 5 points (+0.1%), …
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20 November 2024 4:37 pm
European Stocks Rebound as Technology Sector Leads Gains Amid Ukraine-Russia Developments
European markets regained footing on Wednesday, breaking a three-day losing streak, as technology stocks surged and safe-haven demand eased amidst renewed focus on geopolitical and economic developments. The pan-European STOXX 600 rose 0.5% as of 09:20 GMT, recovering from a three-month low touched on Tuesday. Major indices in Germany, France, …
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20 November 2024 12:41 pm
Oil Prices Stabilize Amid Ukraine Conflict and Mixed Market Signals
Oil prices held steady for a second consecutive day on Wednesday as geopolitical tensions from the Ukraine war balanced against signs of stronger crude imports from China and a rise in U.S. crude stockpiles. Brent crude futures for January delivery edged up by $0.11 to trade at $73.42 per barrel …
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20 November 2024 11:37 am
UK Inflation Surges Past BoE Target, Raising Questions Over Future Rate Policy
Inflation in the United Kingdom unexpectedly surged in October, pushing consumer price growth back above the Bank of England’s (BoE) 2% target. The increase in underlying inflation pressures suggests that the central bank may need to tread carefully when considering interest rate cuts. Consumer prices rose by an annual 2.3% …
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20 November 2024 11:03 am
Gold Extends Gains Amid Rising Geopolitical Tensions, But Dollar Strength Limits Upside
Gold prices climbed higher on Wednesday, bolstered by increasing safe haven demand as geopolitical tensions between Russia and Ukraine escalated. However, gains in the precious metal were somewhat restrained due to the persistent strength of the U.S. dollar. Spot gold edged up by 0.2% to $2,636.28 an ounce, while December …
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20 November 2024 1:31 am
Market Drivers; US Session
The US Dollar traded sideways on Wednesday, November 20th, as geopolitical tensions between Russia and Ukraine continued to dominate market sentiment. Investors sought safety in the US Dollar, driving demand for the currency. However, a decline in US Treasury yields tempered the greenback’s strength.Key economic events to watch this week …
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20 November 2024 12:15 am
Gold Prices Surge Amidst Geopolitical Tensions
Gold prices rallied to a one-week high on Tuesday, trading now at $2630.38, up +0.72%, driven by escalating geopolitical tensions between Russia and Ukraine. The Kremlin’s announcement of a revised nuclear doctrine, which views attacks from non-nuclear states backed by nuclear powers as joint attacks, sparked investor concerns. As a …
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19 November 2024 11:11 pm
Dow Jones Stumbles on Geopolitical Tensions
The Dow Jones Industrial Average (DJIA) experienced a volatile day on Tuesday, initially plunging to 42,850 due to escalating geopolitical tensions between Russia and Ukraine. While markets broadly recovered, the Dow Jones remained under pressure, closing over 150 points lower.Key Factors:Russian Nuclear Threat: Russian President Vladimir Putin’s warning about lowering …
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19 November 2024 10:08 pm
Fed’s Schmid: Large fiscal deficits won’t cause inflation as Fed will raise rates
Jeffrey Schmid, president of the Federal Reserve Bank of Kansas, expressed optimism on Tuesday, saying he thinks both employment and inflation are moving toward their target levels. The Fed policymaker did, however, warn investors that although the Fed is not preparing any preventative measures for potential government policies in the …
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