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Market Analysis

April, 2023

  • 6 April 2023 3:51 pm

    Dow futures largely flat; caution ahead of Friday’s payrolls data

    In anticipation of the release of the much anticipated official employment data, investors remain hesitant about the state of the American economy and expect U.S. equities to begin Thursday with little change. At 11:00 GMT, the Nasdaq 100 Futures fell 35 points or 0.3%, the S&P 500 Futures traded 2 …

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  • 6 April 2023 2:52 pm

    Oil is heading to record gains for the third week, after the sudden OPEC+ cuts

    Oil continues its path towards weekly gains on Thursday, as the OPEC+ announcement of additional production cuts targeted and falling US oil inventories overshadowed concerns about global economic growth. The two crude prices rose more than six percent this week, heading towards recording gains for the third week in a …

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  • 6 April 2023 1:30 pm

    Gold is retreating from its highest level in a year as dollar rose before US data

    Gold prices retreated from their highest levels in a year on Thursday as the dollar regained some ground while investors await the US Nonfarm Payrolls report to assess the Federal Reserve’s monetary policy strategy. Spot gold fell 0.3 percent to $2,014.26 an ounce by 0543 GMT, after reaching its highest …

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  • 6 April 2023 12:59 pm

    Japan’s Nikkei index closed at its lowest level in two weeks

    Japan’s Nikkei index closed at a two-week low on Thursday, driven by selling in exporters’ stocks after the yen rose overnight, while heavyweight technology stocks followed the Nasdaq’s decline. The Nikkei index fell 1.22 percent to close at 27,472.63 points, the lowest level since March 24. The broader Topix index …

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  • 6 April 2023 4:19 am

    Market Drivers – US Session 05/04/2023

    Despite gloomy US data, the US Dollar rose after two days of significant losses. On Wednesday, bonds increased in value while equities on Wall Street finished neutral. Even though economic data and stock prices are slowing down, the bond market is still warning of an impending recession. From two-month lows, …

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  • 6 April 2023 4:08 am

    USD/CHF struggles to recover ahead of Swiss Unemployment

    Early on Thursday, the USD/CHF pair declines to 0.9060 after an unsuccessful attempt to rebound from the 22-month low set the previous day. As a result, the Swiss Franc pair applauds the US Dollar’s general weakening before significant employment statistics.On Wednesday, the dollar had a corrective rebound as negative US …

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  • 6 April 2023 1:20 am

    AUD/USD stuck by the US dollar´s rebound

    The AUD/USD pair has been stuck by the US dollar´s rebound as all eyes shift to the awaited US NFP data1. The AUD/USD is trading at 0.6720 stuck between 0.6676 and 0.6779 so far12. The US Dollar has been firmer on Wednesday, recovering from two-month lows as investors lightened their …

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  • 6 April 2023 12:23 am

    Gold struggles not to reverse course before NFP data

    The price of gold is fluctuating on Wednesday along with the US Dollar, but it is holding steady around the $2,020s at midday after moving from a low of $2010.09 to a high of $2032.11 so far. At the time of writing, the precious metal is selling for $2020.65 per …

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  • 5 April 2023 11:49 pm

    GBP/USD struggles amid recession fears, speculations on Fed’s pause

    the GBP/USD faces strong resistance at around 1.2500 and retraces due to market’s risk aversion as investors assess a possible recession in the United State. The latest US economic data paints a gloomy scenario, which is already foreseen by the US Federal Reserve (Fed) as the last piece of the …

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  • 5 April 2023 10:42 pm

    US dollar rebounds despite disappointing US data

    The US Dollar Index has rebounded slightly after a two-day slide despite disappointing US data. The inflation component of the PMI survey, the Price Paid sub-index, edged lower to 69.5 from 65.6 in February. The Employment sub-index fell to 51.3 from 54. Economic activity in the US services sector expanded …

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  • 5 April 2023 10:06 pm

    Nasdaq sinks on weak US economic data

    US stocks were mostly down during the US trading session, with tech stocks sinking more markedly, after another hiring report showed a slowdown in private-sector job growth and a separate print showed growth at US service providers also experienced a pullback.The S&P 500 moved down 0.5%, while the Dow Jones …

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  • 5 April 2023 7:07 pm

    ISM Services PMI declines below expectations

    With the ISM Services PMI falling to 51.2 from 55.1 in February, economic activity in the US services sector grew at a slower rate in March. In comparison to the market forecast of 54.5, this number was weaker. After this news, the US Dollar Index continues within its daily range …

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  • 5 April 2023 5:33 pm

    US: Goods and services deficit expands in February

    The figures released on Wednesday by the US Census Bureau and the US Bureau of Economic Analysis showed that the international trade imbalance in goods and services increased by $1.9 billion to $70.5 billion in February. This result was worse than the market projection of a $69 billion deficit. “February …

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