Gold price triggered another bearish run after FOMC Minutes showed a hawkish stance by Fed officials. The US dollar stays dominant across the board despite US Gross Domestic Product disappointing on the second estimate for Q4 2022.Gold price keeps trending lower on Thursday after a bearish Wednesday, where the precious …
Read More »US Index Futures Under Pressure Amid Iran War Escalation and Oil Spike
US stock index futures moved lower ahead of the trading session, reflecting rising investor caution …
Why It Matters: UAE Strengthens Energy Exports With Strategic Pipeline Bypassing Hormuz
The United Arab Emirates is moving to reshape its energy export strategy with the construction of a …
Fragile Pause in the World’s Biggest Economic Rivalry After Leaders’ Talks
The trade relationship between the United States and China, the world’s two largest economies, remai…
Carry Trades Roar Back as Interest Rate Gaps Drive G10 Currency Rally
Currency carry trades are enjoying their strongest performance in years as investors return to high-…
British Pound Slides as UK Political Turmoil and Iran Tensions Boost US Dollar
The British Pound extended its sharp decline on Friday, heading toward its fourth consecutive daily …
WTI Oil Surges Above $100 as Trump-Xi Summit Intensifies Supply Concerns
West Texas Intermediate crude climbed above the key $100-per-barrel level on Friday, as markets reac…
Euro Slides Toward Monthly Lows as Hawkish Fed Bets Strengthen US Dollar
The Euro weakened further against the US Dollar on Friday, with the EUR/USD pair falling toward its …
Oil Erupts Over 2% as Trump Declares War of Words on Iran: Weekly Gains Hit 10% Despite Xi Summit Charm Offensive
Key Takeaways Sharp Friday gains: Brent crude rose 2.8% to $108.65 per barrel, while WTI surged 3.4%…
Trump-Xi Summit Wraps with “Series of New Consensus” — But Concrete Deals Remain a Mystery
Key Takeaways Second round concluded: Trump and Xi wrapped their second round of talks Friday, per C…
Wall Street Futures Tumble as Iran War Threats and Chip Export Snub Crush Record-High Mood
Key Takeaways Futures fall sharply: S&P 500 futures dropped 1.1% to 7,440.50, Nasdaq 100 futures…
Market Analysis
February, 2023
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23 February 2023 5:58 pm
PCE Report to Deliver Fireworks for the Market
Rates may need to increase significantly, according to the February Fed minutes. Despite a holiday-shortened business week, there will still be plenty of market-moving information available. On Wednesday, the FOMC minutes will be made public, and on Friday, PCE inflation data and the University of Michigan Inflation Forecasts will be …
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23 February 2023 4:43 pm
Nvidia guidance stokes hopes on bottom in chip demand after Q4 results beat
Nvidia said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools. “AI is at an inflection point, setting up for broad adoption reaching into every industry,” chief executive Jensen Huang said …
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23 February 2023 4:14 pm
The Turkish Central Bank cuts interest rates to 8.5%
Turkey’s central bank cut interest rates on the lira by 50 basis points from 9% to 8.5% in February, after the devastating earthquake that claimed more than 45,000 lives. This cut came in line with analysts’ expectations of 8.5%. Turkey’s central bank cut its key interest rate by 500 basis …
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23 February 2023 3:07 pm
US Dollar stabilized near the highest level in several weeks
The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further. The euro settled at $ 1.0606, slightly above …
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23 February 2023 3:03 pm
Ministry of Defense: China will not participate in a nuclear arms race with any country
China will not engage in a nuclear arms race with any country, and will always keep its nuclear force at the minimum level that meets national security requirements, said Tan Kefei, spokesman for the Chinese Ministry of Defense, at a press conference Thursday. Tan was responding to a reporter’s request …
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23 February 2023 2:55 pm
Italian Eni recorded the highest profits in more than 10 years in 2022
Italian energy group Eni said on Thursday its adjusted net profit rose to 13.3 billion euros ($14.12 billion) in 2022, its highest profit in more than a decade, but its shares fell as markets focused on weak exploration and production activity in the fourth quarter of the year. Adjusted net …
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23 February 2023 1:52 pm
Gold rose as US Dollar fell and interest rate expectations limited gains
Gold prices rose on Thursday, supported by a slight decline in the dollar, but the odds that interest rates in the United States will remain high for a longer period limit the gains of the yellow metal. Gold in instant transactions rose 0.3 percent to $ 1830.90 an ounce by …
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23 February 2023 1:35 pm
European stocks opened higher, supported by chipmakers
European stocks opened higher on Thursday as chipmakers rose on expectations of increased sales from US semiconductor company Nvidia. Shares of ASM International, BE Semiconductor and Extron rose between 1.6 and 3.2 percent, boosting the European technology sector 0.9 percent. Nvidia Corp. projected first-quarter revenue higher than Wall Street estimates …
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23 February 2023 11:58 am
Telekom reports Q4 growth, forecasts slightly higher earnings in 2023
Deutsche Telekom reported better-than-expected fourth-quarter earnings on Thursday, citing customer growth in Germany and strong performance from T-Mobile US, and forecast a slight rise in profits this year. Adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of 9.96 billion euros ($10.58 billion) for the quarter, slightly …
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23 February 2023 11:22 am
Oil prices go up, ending six days of losses
Oil prices rose slightly in weak Asian trade on Thursday, ending six days of losses fueled by growing concerns that higher interest rates by central banks could squeeze economic growth and boost fuel demand. And by 0110 GMT, Brent crude futures rose two to $ 80.62 a barrel. West Texas …
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23 February 2023 2:43 am
Market Drivers – US Session 22/02/2023
The US Dollar benefited from the hawkish FOMC Minutes, accelerating its move by the end of the US trading session. The document showed that a few participants favored a 50 basis point (bps) rate hike, while some believed there was an elevated risk of a recession in 2023.Key DevelopmentsAll FOMC …
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23 February 2023 2:28 am
How Have Assets Immediately Reacted To FOMC Minutes?
On Wednesday, the dollar index rose by +0.39%. The dollar moved moderately higher and is just below last Friday’s 6-week high. A slump in stocks Wednesday boosted the liquidity demand for the dollar. Also, the hawkish minutes of the Jan 31-Feb 1 FOMC meeting supported the dollar, with policymakers anticipating …
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