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Market Analysis

April, 2023

  • 20 April 2023 11:32 pm

    Auto earnings sound recession alarm

    Ford stock was down almost 4% on Thursday afternoon. Following Tesla’s results, and what Elon Musk had to say about them, concern accelerated about the state of the US economy, dragging down stocks across the auto industry.Tesla’s first-quarter gross profit margins, reported Wednesday evening, disappointed investors, coming in below 20%. …

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  • 20 April 2023 10:13 pm

    EUR/USD advances on US recession fears

    The Philadelphia Fed said that the last week saw an increase in first jobless claims in the US as manufacturing output fell. Although rates need to be higher, Cleveland’s Fed Loretta Mester is pleased with the progress on inflation.Following data from the United States that shows more economic deterioration, which …

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  • 20 April 2023 7:00 pm

    American dollar struggles to recover after worse than expected US data

    The second half of the week is challenging for the US dollar to keep its ground. USD is impacted by disappointing US macroeconomic data releases. The major Wall Street indices trade in the red following the opening bell.The US dollar struggles to keep its footing following Wednesday’s meager rebound. Although …

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  • 20 April 2023 2:33 pm

    Nasdaq futures fall 1% as Tesla earnings disappoint

    On Thursday, Nasdaq futures declined 1% as investors became concerned about the prospects for U.S. interest rates and Tesla shares fell after the electric vehicle manufacturer reported its lowest quarterly gross margin in two years. The major U.S. stock indices have held firm this week as mixed bank earnings allayed …

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  • 20 April 2023 1:57 pm

    European stocks are falling as investors await more results

    European stocks fell on Thursday after the mixed results of a number of companies listed on the Wall Street Stock Exchange, while investors await more economic data from the euro zone and corporate results to assess the strength of the region. The European Stoxx 600 index fell 0.2 percent, and …

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  • 20 April 2023 3:44 am

    Market Drivers – US Session 19/04/2023

    Financial markets experienced volatility on Wednesday, with strong price increases in currencies and metals. US stocks fluctuated between gains and losses, and although the US Dollar somewhat increased, it fell during the American session. Economic Data Fed’s Beige Book states that “economic activity was hardly changed in recent weeks. The …

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  • 20 April 2023 1:40 am

    GBP/USD bears are moving ahead eying 1.2350

    The GBP/USD pair is testing trendline support and running into resistance near 1.2470. The 1.2350s become accessible on a breach below trendline support. The pair, which rose from a low of 1.2392 to a high of 1.2474, is currently trading at 1.2436, down 0.02% on the day. However, as the …

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  • 20 April 2023 12:43 am

    USD/JPY bulls advance towards 135

    The USD/JPY pair is testing important barrier as it moves forward in the bullish trend. Bears want 132.80, while bulls aim for a break of 135.11. The price of the pair increased by 0.5% over the day, moving between a low of 133.95 and a high of 135.13. The yield …

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  • 19 April 2023 11:56 pm

    Recent data indicates BoE’s 25 bps hike in May

    Following the most recent UK inflation estimate, economists anticipate a 25 basis point increase in the Bank of England’s benchmark interest rate in May. Data on the UK labour market and inflation released this week have given the Bank of England (BoE) policy officials some positive surprises.Analysts revise their projections …

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  • 19 April 2023 10:46 pm

    Gold’s bears advance to test a crucial support

    Following price movement in both directions, the price of gold is currently consolidating. The motivating force is the Fed’s outlook, which has an eye on crucial support. As the US Dollar strengthens once more, the price of gold is down about 0.5% on the day and has fallen below the …

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  • 19 April 2023 10:06 pm

    Fed’s Beige Book: Stress on US economy eased after SVB crisis

    According to Fed’s Beige Book, released on Wednesday, stress on the US banking system has eased since the failure of Silicon Valley Bank in March. Lending in the U.S. declined after the failure of Silicon Valley Bank and businesses hired fewer people in the early spring, but inflation also “appeared …

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  • 19 April 2023 9:32 pm

    USD/CAD expected to surge on stronger USD

    The USD/CAD pair is trading at 1.3446 at the time of writing, it is therefore higher by some 0.41%. the pair has travelled lower over the last month driven by the broad-based setback to the US dollar and the rebound in oil supporting the Canadian counterpart. Analysts forecast USD/CAD at …

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  • 19 April 2023 8:24 pm

    US dollar slightly up on risk aversion

    After declining on Tuesday, the US dollar is now moving in the right direction. The US dollar outperformed its competitors due to the steep rise in US Treasury bond yields.The main Wall Street indexes are trading in the red, but the US dollar is unable to gain any more ground. …

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