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Market Analysis

March, 2023

  • 31 March 2023 9:37 pm

    Silver exceeds monthly highs amid improved market sentiment

    Because of declining US Treasury bond yields, silver prices are trading at fresh monthly highs above $24 per ounce. At the time of writing, silver is trading at $23.974 at the time of writing.US markets are expected to end the month with gains as sentiment continues to be the session’s …

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  • 31 March 2023 6:48 pm

    Biden: US is making progress in the fight against inflation

    US President Joe Biden delivered a statement following the February PCE report, highlighting the progress in the fight against inflation. Key Quotes We are making progress in the fight against inflation. Today’s report shows annual inflation down by nearly 30 percent from this summer, against a backdrop of low unemployment …

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  • 31 March 2023 6:39 pm

    U.S. stocks are rising after inflation data boosts hopes for Fed pause

    As a crucial inflation figure came in lower than anticipated, U.S. equities were up. The Dow Jones Industrial Average was up 171 points, or 0.5%, at 10:01 ET (14:01 GMT), while the S&P 500 and the NASDAQ Composite were also higher. The Federal Reserve constantly monitors the personal consumption expenditure …

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  • 31 March 2023 4:58 pm

    U.S. PCE price inflation slowed in February

    Core PCE

    According to the most recent monthly update of the Federal Reserve’s favoured inflation indicator, consumer prices increased less in February than anticipated. Compared to the 0.3% forecast, the price index for core personal consumption increased by only 0.2% in February, slowing from a 0.5% gain in January that had been …

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  • 31 March 2023 3:13 pm

    China’s factory activity growth slowed in light of weak global demand

    Official data showed on Friday that the pace of growth in China’s manufacturing activity slowed in March, which casts doubt on the strength of the industrial sector’s post-Covid recovery in light of weak global demand. As for the services sector, it was stronger, and its activity grew at the fastest …

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  • 31 March 2023 2:25 pm

    Turkey’s trade deficit rises 51.4% in February

    Data published by the Turkish Statistical Institute on Friday showed that the country’s foreign trade deficit rose 51.4 percent in February on an annual basis to $12.08 billion, after imports jumped 10.1 percent. The data showed that imports amounted to 30.71 billion dollars, while exports fell 6.4 percent to 18.64 …

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  • 31 March 2023 1:48 pm

    Eurozone Preliminary HICP inflation declines in March

    The most recent information released by Eurostat on Friday revealed that the annualised Harmonized Index of Consumer Prices (HICP) for the Eurozone decreased to 6.9% in March from 8.5% in February. The market anticipated a decrease in the inflation rate to 7.1% for the reporting period. Contrary to expectations of …

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  • 31 March 2023 12:54 pm

    Nikkei rises and records the best weekly performance in two months

    Japan’s Nikkei index rose on Friday, the last trading day of the country’s fiscal year, and recorded its best week in two months after easing fears of a banking crisis and a weaker yen boosted investor sentiment. The Nikkei ended Friday, up 0.93 percent, at 28,041.48 points, to remain above …

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  • 31 March 2023 11:57 am

    Gold is heading for the best monthly performance since July 2020

    Gold prices rose on Friday, heading to record the best monthly performance since July 2020, as the banking system crisis led to the expectation that the Federal Reserve (the US Central Bank) would temporarily stop raising interest rates, which makes the yellow metal more attractive. By 0321 GMT, spot gold …

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  • 31 March 2023 3:59 am

    Market Drivers – US Session 30/03/2023

    Oil futures turned bullish on Thursday’s US session, driven by the improvement in risk appetite and the emergence of expectations that OPEC + will keep its production policy unchanged, adopting the same levels of increased production. US oil futures rose to $74.24 a barrel, compared to the previous daily closing …

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  • 31 March 2023 2:58 am

    Gold Benefits from Thursday’s Softer US Dollar

    A lower US dollar and predictions of falling interest rates have helped to support the price of gold. The US Dollar index was down 0.4% at 102.20, making gold prices denominated in dollars more appealing. On Thursday, XAU/USD fluctuated between a low of $1,955 and a high of $1,984.36 before …

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  • 31 March 2023 2:38 am

    EUR/USD defends 1.0900 ahead of German Retail Sales

    The EUR/USD pair has held onto and defended the 1.0900 support as investors see more rate hikes from the ECB. Solid wage growth and labor shortage led to a jump in monthly German inflation. The EUR/USD pair is trading at 1.0903 at the time of writing.S&P500 futures continued their upside …

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  • 31 March 2023 12:50 am

    GBP/USD surges towards the psychological 1.24 level

    The 1.24 region is the target for the bulls in the GBP/USD market. The most important US inflation data will be released on Friday for traders. The GBP/USD exchange rate was last up 0.65% at 1.2391 after fluctuating between a low of 1.2293 and a high of 1.2392. at the …

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