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Market Analysis

March, 2023

  • 27 March 2023 4:45 pm

    Oil production in Iraqi Kurdistan is threatened after Turkey halted exports through a pipeline

    Oil production in the semi-autonomous Kurdistan Region of Iraq is under threat after the halt in exports from the northern region forced companies operating there to pump crude to storage facilities with limited capacity. Iraq was forced to stop about 450,000 barrels per day of crude exports from the Kurdistan …

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  • 27 March 2023 3:36 pm

    European stocks rise amid easing tensions related to the banking sector

    Eurozone

    European stocks jumped on Monday as some calm returned to the markets after a week of turmoil over concerns about the stability of the banking sector following the collapse of Credit Suisse and two mid-sized US banks. The pan-European STOXX 600 rose 0.9 percent after news of a deal in …

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  • 27 March 2023 2:55 pm

    First Citizens Agrees to Buy Collapsed Silicon Valley Bank

    First Citizens Bankers said on Monday that it would take over the deposits and loans of the collapsed Silicon Valley bank, concluding a chapter of a crisis of confidence that caused turmoil in global financial markets. In a separate statement, the Federal Deposit Insurance Corporation, which took control of Silicon …

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  • 27 March 2023 1:11 pm

    Stability of USD amid continuing concerns about the banking crisis

    The dollar witnessed stability on Monday, while the yen hovered near its highest level in seven weeks, at a time when investors are assessing the measures taken by the authorities and regulators to calm concerns about the global banking system. The dollar index, which measures the performance of the US …

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  • 27 March 2023 12:06 pm

    Oil rises as concerns about banking sector turmoil recede

    Oil prices rose in early trade on Monday as concerns about turmoil in the banking sector eased. Brent crude futures rose 33 cents, or 0.4 percent, to $75.32 a barrel by 0040 GMT. The price of US West Texas Intermediate crude was $69.65 a barrel, up 39 cents, or 0.6 …

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  • 27 March 2023 6:27 am

    Financial Markets’ Weekly Recap 20 – 24 March 2023

    Financial markets witnessed a very volatile week as investors and traders tended to believe that officials’ efforts to calm banking turbulence would allay concerns that the 2008 financial crisis would recur. Recent central banker statements that sounded less hawkish are bolstering the cautious optimism. In particular, today’s light calendar and …

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  • 25 March 2023 2:34 am

    Market Drivers – US Session 24/03/2023

    It is predicted that the EUR/USD will end the week with respectable gains of 0.89%. The US economy slowed down overall on Friday, according to mixed economic data. The goal of ECB officials is still to lower the Eurozone’s high inflation rates.Key DevelopmentsJoachim Nagel, the president of the Bundesbank, said …

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  • 25 March 2023 1:45 am

    How have oil markets interpreted statements by Novak, US Energy Secretary

    WTI crude oil, which had fallen by 3% in earlier trading, reduced its losses by 2% to end at $69.215 per barrel, returning to levels that are not much higher than they were almost two years ago. To end the day at slightly under $75 a barrel, Brent crude fell …

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  • 25 March 2023 12:41 am

    US stocks end volatile week in the green territory

    US stocks closed in positive territory on Friday after a volatile week following the Federal Reserve’s interest rate decision on Wednesday and further pressure in the banking sector. The S&P 500, which fell as much as 1% in early Friday trading, ended up 0.57%. The Dow Jones and technology-heavy Nasdaq …

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  • 24 March 2023 11:30 pm

    Global markets rattled again by fresh Deutsche Bank crisis

    Two new issues have jolted the world markets. Bond insurance rates at Deutsche Bank increased, which is mimicking what occurred to Credit Suisse before it failed. Also, according to news sources, the US Justice Department is looking into European institutions, such as Credit Suisse and UBS, for allegedly assisting Russian …

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  • 24 March 2023 10:01 pm

    Gold price consolidates after mixed US data

    In spite of lower yields supporting gold, the US dollar has increased and is now weakening the Gold Index (XAU/USD). Geopolitical concerns are causing central banks to raise their gold holdings, according to a recent report. At the time of writing, the price of XAU/USD is $1,979.64.\ After halting in …

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  • 24 March 2023 7:38 pm

    The US Dollar Index advances for two days

    After falling to a 7-week low of 101.91, the US Dollar Index (DXY) rises 1.58%. The DXY hit a daily low of 102.50 before trading as of this writing at 103.094. The DXY is neutrally biassed on the daily chart because it is still above the 100.85 2023 low. The …

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  • 24 March 2023 6:33 pm

    GBP/USD retreats amid resurgent dollar demand

    The GBP/USD pair comes under intense selling pressure on Friday and extends the overnight retracement slide from the vicinity of mid-1.2300s, or its highest level since February. Spot prices, however, manage to rebound a few pips from the daily low and trade above the 1.2200 mark during the early North …

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