As a result of the US debt-ceiling deal revealed on Sunday, interest in the US dollar declines, the USD/CHF trades for a second straight trading day with losses. This has fueled a bullish market sentiment that is hated by the safe-haven dollar, the greenback. Additionally, the low volume in the …
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Gold Rebounds as Central Bank Buying Strengthens Long-Term Support
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AI Chip Rally Returns as Oil Prices Retreat: Can the Technology Boom Keep Driving Global Markets?
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Japanese Yen Slides Toward 40-Year Lows as Markets Doubt Immediate Government Action
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June ISM Services PMI Points to Cooling Business Activity in the US
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Dollar’s Cautious Climb Signals Bigger Moves Ahead as Fed Decision Looms
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Oil Prices Rise as Weak US Jobs Data and Middle East Tensions Boost Market Sentiment
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Euro Struggles to Build Momentum as Markets Reassess Fed and ECB Rate Outlook
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Market Analysis
May, 2023
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29 May 2023 10:18 pm
GBP/USD records gains as week’s focus shifts to NFP
GBP/USD records gains for the second trading day in a row. The US debt-ceiling deal favoured a positive market environment. Focus, this week, shifts to NFP data from May from the US. The GBP/USD pair trades with gains at 1.2358 and benefits from the positive market sentiment fueled by the …
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29 May 2023 9:30 pm
Oil price restricted on US debt deal, holiday thin volume
Oil price finds some restriction after Republicans and Democrats have agreed on a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong …
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29 May 2023 8:16 pm
Global investors welcoming debt deal despite looming risks
As politicians work to push the agreement through Congress before the new June 5 deadline, international investors are simulating the market effects of that deal.Investors predicted that a deal between the White House and House Republicans to raise the $31.4 trillion debt ceiling would prevent a disastrous American default, increase …
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29 May 2023 7:23 pm
Why is gold poised to remain under pressure?
The US inflation target has not been realized yet. Price pressures look too sticky and the country’s economy is showing little weakness. Therefore, the US dollar remains strong, and accordingly, gold could remain under downside pressure. Economists also see chances for further rate hikes by the US central bank more …
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29 May 2023 4:33 pm
U.S. stock futures point higher after debt ceiling deal
US stock futures rose in modest holiday trade on Monday as legislators in Washington reached an agreement to raise the $31.4 trillion debt ceiling and avoid a potentially catastrophic default. By 11:32 GMT, the Dow futures contract had gained 60 points, or 0.18%, the S&P 500 futures had gained 10 …
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29 May 2023 3:38 pm
European shares lack momentum after debt ceiling deal
European market indices fell marginally on Monday, lacking impetus in thin trade, but Wall Street futures remained optimistic after the US achieved a debt ceiling deal over the weekend. On Saturday, US President Joe Biden and senior congressional Republican Kevin McCarthy reached a tentative agreement to lift the federal government’s …
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29 May 2023 2:13 pm
Turkish lira is falling to a new record, and stocks are rising after Erdogan’s victory
The Turkish lira fell to a new record low against the dollar on Monday, but stocks rose after President Recep Tayyip Erdogan won re-election on Sunday, ushering his increasingly authoritarian rule into a third decade. The lira fell to 20.065 pounds per dollar in early European trading, surpassing the previous …
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29 May 2023 12:28 pm
USD stabilizes with increasing expectations of interest rate hike and optimism about debt ceiling
The dollar held steady on Monday amid rising expectations of a Federal Reserve hike in interest rates, despite news of a debt ceiling agreement that drove some hedge-seekers away from the greenback. The dollar recorded its highest level in six months against the Japanese currency at 140.91 yen in early …
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29 May 2023 10:53 am
Asian stocks rise, Nikkei at 33-year high on debt ceiling optimism
Most Asian equities rallied on Monday as markets hailed a tentative agreement reached by US legislators to raise the debt ceiling and avoid a default, with Japan’s Nikkei resuming its near-33-year highs on better risk appetite. The Nikkei 225 led Asian markets, rising 1.4% to its highest level since July …
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29 May 2023 9:41 am
Oil rises after reaching an initial agreement on the US debt ceiling
Oil prices rose in early Asian trade on Monday after US leaders reached a tentative agreement on the government’s debt ceiling, which could prevent a catastrophic default in the world’s largest economy and oil consumer. And by 2317 GMT, Brent crude futures rose 39 cents, or 0.5 percent, to $ …
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29 May 2023 9:07 am
Gold prices are falling after reaching an agreement regarding the US debt ceiling
Gold prices fell on Monday after a tentative agreement was reached on suspending the US debt ceiling at the weekend, as concerns about prolonged interest rate hikes dampened appetite for the non-interest-bearing metal. And by 0252 GMT, spot gold fell 0.1 percent to $ 1944.09 an ounce, hovering near its …
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29 May 2023 4:23 am
Financial Markets’ Weekly Recap, May 22-26
US stocks closed higher on Friday as progress was made in talks to raise the US debt ceiling, while chip stocks jumped for the second day amid optimism about artificial intelligence. After several rounds of talks, a US official told Reuters that US President Joe Biden and Republican House Speaker …
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