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Market Analysis

January, 2023

  • 11 January 2023 10:56 pm

    How commodities react to monetary policy, China’s news

    On Wednesday, the metal rose 1.1% to $9,013.50 on the London Metal Exchange (LME), posting its fifth consecutive daily gain. At the time of writing, the key industrial metal is trading at $4.17 per pound for the first time since June, versus the previous closing price on Tuesday at $4.07. …

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  • 11 January 2023 10:09 pm

    Goldman: Oil could surge up to $110 by Q3

    Commodity prices, particularly crude oil, are expected to corelate will China’s reopening after Lunar New Year celebrations later in January, according to Goldman Sachs Group Inc.“What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview on …

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  • 11 January 2023 8:44 pm

    T-yields fall ahead of CPI data

    Treasury yields retreated on Wednesday, on the eve of the key consumer price data release. The yield on benchmark 10-year Treasury notes fell 5.9 basis points to 3.560%. Yields move inversely to their price. The market expects inflation to ease and the Fed could cut interest rates by the end …

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  • 11 January 2023 7:55 pm

    Gold attempts to surge on slower Fed rate hikes expectation

    Gold futures were at an eight-month high, climbing 14% since late November to hit $1,882 per ounce on Wednesday. At the time of writing the precious metal is hovering around $1872 per ounce.Gold has got the opportunity to shine again, as investors are betting that the aim of cooling hot …

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  • 11 January 2023 7:02 pm

    EIA forecast oil prices to decline beginning 2023’s second half

    In their January 2023 Short-Term Energy Outlook, the official website of the governmental US Energy Information Administration (EIA), forecasts Brent crude oil price to rise from an average $81 per barrel recorded in December 2022 to average $83/b in the first quarter of 2023 (1Q23). The EIA also expects this …

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  • 11 January 2023 5:45 pm

    A slight rise in oil, with the rise in US inventories

    Oil prices rose slightly on Wednesday, amid an unexpected increase in US crude and fuel inventories, global economic uncertainty and China’s reopening of its economy. Brent crude futures rose 53 cents, or 0.7 percent, to $80.63 a barrel by 0921 GMT. US West Texas Intermediate crude futures rose 41 cents, …

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  • 11 January 2023 3:55 pm

    API: US oil stocks rose by 14.8 million barrels

    The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January. In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels. Today, Wednesday, the …

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  • 11 January 2023 2:29 pm

    European shares rose, supported by the reopening in China and optimism about interest rates

    European stocks rose on Wednesday, supported by the rise in shares of the German company Bayer and the French LVMH group, amid investor optimism about the reopening of the economy in China and hopes of slowing the pace of raising US interest rates. The Stoxx Europe 600 index was up …

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  • 11 January 2023 2:27 pm

    Oil is falling after an increase in US inventories reinforced demand concerns

    Oil prices fell on Wednesday, giving up gains from the previous session, after sector data revealed an unexpected increase in US crude and fuel inventories, which raised concerns about fuel demand. West Texas Intermediate crude futures fell 59 cents, or 0.8 percent, to $74.53 a barrel by 0134 GMT, while …

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  • 11 January 2023 12:56 pm

    Japan’s Nikkei rises to a two-week peak with the support of robotics

    Japan’s Nikkei average rose more than 1 percent on Wednesday to a two-week high, as robotics stocks led gains, despite important US inflation data expected later in the week. The Nikkei index ended Wednesday’s session up 1.03 percent to 26446, and had earlier touched 26479.99 for the first time since …

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  • 11 January 2023 12:30 pm

    Gold rose to an 8-month high as investors awaited inflation data

    Gold rose to its highest level in eight months on Wednesday, supported by the dollar’s decline, but it is still moving in a relatively narrow range as investors await inflation data that may affect the Federal Reserve (US Central Bank) raising interest rates. And by 0615 GMT, spot gold prices …

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  • 11 January 2023 2:39 am

    Market Drivers – US Session 10/01/2023

    The US Dollar advanced throughout the first half of the day but ended it mixed as Wall Street managed to revert pre-opening losses and posted a modest advance. At the same time, US government bond yields advanced. Investors are unwilling to risk much ahead of the release of US inflation …

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  • 11 January 2023 2:11 am

    US stocks surge after Powell’s speech

    US stocks closed higher, on Tuesday, following a choppy session, as markets digested a downgraded global outlook from the World Bank and awaited key inflation data. US stocks have made modest gains after Fed Chair Jerome Powell had said the US central bank may need to make unpopular decisions to …

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