The US central bank is to notch up on Wednesday its efforts to withdraw the stimulus it showered on the US economy after the pandemic upended global economies two years ago. Fed officials are expected to raise the benchmark rate by a half percentage point and approve plans to start …
Read More »Geopolitical Tensions: The Driving Force Behind Oil Prices
Oil futures saw a decline following U.S. Secretary of State Marco Rubio’s comments on maintain…
Dollar ollar Holds Ground Amidst Mixed Economic Signals
The US Dollar Index (DXY) is currently trading around 106.50, maintaining minor gains despite recent…
Nvidia Earnings: Less Market-Moving Power?
Nvidia’s upcoming fourth-quarter earnings release is highly anticipated, but the semiconductor…
Is Gold Price’s Recent Dip a Sign of Trouble or Opportunity?
Gold is down -0.06%, trading at $ 2,937.36 per ounce. Gold prices experienced a slight dip on Friday…
US Manufacturing Shows Resilience Amid Economic Uncertainties
Recent data reveals a mixed picture of US economic activity. The S&P Global Composite PMI for F…
GBP/USD Pulls Back After Reaching New Highs
The GBP/USD pair experienced a pullback after reaching a year-to-date high of 1.2678 and testing the…
British Pound Hits Two-Month High as UK Consumer Spending Surges
The British pound strengthened on Friday, reaching a two-month high, after strong UK consumer spendi…
Bitcoin Climbs for Third Straight Day but Faces Fed Policy Headwinds
Bitcoin extended its winning streak on Friday, rising for the third consecutive day, as some investo…
European Stocks Inch Higher as Traders Weigh Business Activity and Trade Tensions
European markets edged up on Friday, as investors assessed fresh business activity data and ongoing …
Wall Street Slips as Walmart Warning, Jobless Claims Spark Economic Fears
The Dow Jones Industrial Average plummeted over 1.40% to 43,980 on Thursday as investors grappled wi…
Market Analysis
May, 2022
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4 May 2022 8:22 pm
US supply issues, inflation weighed on ISM services
Data released on Wednesday showed the ISM Service Sector dropped unexpectedly to 57.1 in April. Analysts at Wells Fargo point out that while supply remains a problem for service-producers, a pullback in demand and hiring were the top factors weighing on activity during the month. Key Quotes: “Activity in the …
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4 May 2022 8:09 pm
Canada’s energy trade surplus at an all-time high in March
Canada registered another trade surplus in March, although below expectations: CAD 2.49 billion vs CAD 3.90 billion. Analysts at the National Bank of Canada highlight the trade surplus with the US reached a fresh record high. Key Quotes:“For the ninth time in the past ten months, Canada’s trade balance remained …
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4 May 2022 7:07 pm
ISM Services PMI falls below expectations
The headline ISM Services Purchasing Manager’s Index (PMI) fell to 57.1 in April from 58.3 in March, below expectations for a slight rise to 58.5, according to the latest release by the Institute for Supply Management (ISM). Subindices: The Business Activity Index rises to 59.1 from 55.5 in March. The …
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4 May 2022 5:09 pm
Canada: International trade surplus falls in March
According to the latest figures released on Tuesday by Statistics Canada, the Canadian Trade surplus fell unexpectedly to C$2.49B in March from C$3.08B a month earlier versus expectations for a rise to C$3.9B. Exports were up 6.3% MoM to C$63.63B from C$59.84 a month earlier, while imports were up 7.7% …
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4 May 2022 4:18 pm
US: Private sector employment rises in April
Private sector employment in the US rose by 247,000 in April, well below the expected gain of 395,000 jobs, according to US payroll company ADP’s latest estimate of national employment change released on Wednesday. That marked a sharp decline in the rate of job gains after 479,000 were added to the US …
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4 May 2022 3:24 pm
The dollar continues to decline from the highest level in 20 years
On Wednesday, the dollar index continued to retreat from its highest level in 20 years after it had already digested expectations that the Federal Reserve will raise interest rates by half a point later on Wednesday and about 250 basis points by the end of the year. Currency markets are …
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4 May 2022 2:33 pm
Reuters: OPEC+ expects the surplus to rise in 2022
A report seen by Reuters on Wednesday showed that the OPEC + alliance expects a surplus of 1.9 million barrels per day in 2022, an increase of 600,000 barrels per day from previous estimates, amid expectations of a slowdown in oil demand growth this year. The report, which was prepared …
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4 May 2022 1:26 pm
Reuters: Russian oil exports outside the former Soviet Union rise 2%
A source familiar with the matter told Reuters on Wednesday that Russian oil exports, excluding those destined for the former Soviet Union, rose to an average of 4.88 million barrels per day in the first four weeks of April, an increase of 2 percent compared to March. The source also …
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4 May 2022 1:23 pm
Oil jumps 3% as the European Union announces plans to ban Russian crude
Oil prices jumped on Wednesday as the European Union, the world’s largest trading bloc, announced plans to phase out Russian oil imports, offsetting fears of declining demand from China, the world’s largest oil importer. By 0746 GMT, Brent crude futures rose $2.94 a barrel, or 2.8 percent, to $107.91 a …
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4 May 2022 1:20 pm
Gold falls with an imminent rates hike
Gold prices fell on Wednesday, with the increase in the yield on US Treasury bonds and an imminent hike in the interest rate, which negatively affected the demand for the precious metal. Spot gold prices fell 0.1% to $865.31 an ounce by 00:40 GMT. US gold futures fell 0.2% to …
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4 May 2022 11:56 am
The European Union proposes a gradual embargo on Russian oil in the sixth round of sanctions against Russia
The European Union proposes a gradual embargo on Russian oil in the sixth round of sanctions against Russia The European Commission imposed new sanctions on the Kremlin on Wednesday, including the gradual cancellation of Russian crude imports for a period of six months to be updated…
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4 May 2022 10:42 am
Lyft better-than-expected first-quarter revenue of $876 million
lyft Inc stock plunged 26% on Tuesday after the ride hail company said it would have to spend more heavily to attract drivers and forecast operating earnings less than a quarter of Wall Street targets, reflecting the added costs. A full recovery of driver supply from pandemic lows was taking …
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