Tuesday’s report by Conference Board has showed a recovery in consumer confidence in August according to preliminary data. Several analysts have pointed out the rebound in confidence to its highest level since May 2022 took pace as fuel prices fell throughout the month and stock prices rose during the first …
Read More »Oil Climbs Above $106 as Middle East Tensions and Supply Risks Intensify
Oil prices surged on Thursday, extending a period of heightened volatility as investors reacted to m…
U.S. Futures Slip as Iran Rules Out Direct Talks, Tempering Ceasefire Optimism
U.S. stock index futures edged lower early Thursday, as investors reassessed the likelihood of a nea…
Bitcoin Falls Below $70,000 as Geopolitical Uncertainty and Regulatory Risks Weigh on Crypto Markets
Bitcoin retreated on Thursday, reversing part of this week’s gains as investor sentiment weakened am…
German Consumer Sentiment Falls to One-Year Low as Energy Fears Resurface
Consumer sentiment in Germany deteriorated sharply, reaching its weakest level since March 2024, as …
Gold Slides as Dollar Strength and Rate Concerns Offset Geopolitical Support
Gold prices declined in Asian trading on Thursday, as investors navigated mixed signals surrounding …
Oil Jumps Over 2% as Iran Reviews U.S. Proposal Amid Persistent Market Volatility
Oil prices rebounded by more than 2% in Asian trading on Thursday, as markets reacted to conflicting…
Alphabet in Focus: Can AI Drive a Major Stock Surge?
Shares of Alphabet Inc., the parent company of Google, are attracting growing investor attention as …
Caught Between Hope and Reality: Markets Price Peace While Risk Still Lingers
Global markets are increasingly leaning toward a hopeful outcome, positioning for an eventual resolu…
Dollar Holds Its Ground as Fragile Diplomacy Keeps Markets on Edge
Global markets are navigating a tense balancing act, caught between cautious optimism and lingering …
Gold Gains Momentum as U.S. Bond Yields Slide
Gold surged during Wednesday’s trading session, supported by a cautious wave of optimism over potent…
Market Analysis
August, 2022
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30 August 2022 9:43 pm
EUR/USD bounces above parity on hawkish ECB
Despite the US dollar’s strength, on Tuesday, the EUR/USD pair advances underpinned by ECB’s Governing Council members expressing the need for a 75 bps rate hike in September. US Consumer Confidence surprisingly surged, while job vacancies topped expectations.The ECB speakers were led by ECB Knot, who said he’s leaning towards …
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30 August 2022 9:10 pm
Best Buy’s earnings beat despite retreating sales
Best Buy earnings report is out, on Tuesday, with better than expected profits, but the quality of the earnings report is in focus. The electronics retailer saw US same-store sales tanked 12.7%, missing analyst estimates. Sales retreated in all product categories. And Q3 guidance hints had a slow start to …
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30 August 2022 8:39 pm
ECB’s Stournaras expects inflation to gradually decline in 2023
European Central Bank (ECB) Governing Council member Yannis Stournaras said on Tuesday that he expects inflation to peak this year before starting gradually decline in 2023, as reported by Reuters.Commenting on the economic outlook, Stournaras acknowledged that risks to growth are tilted to the downside. As for the market’s reaction, …
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30 August 2022 7:50 pm
USD/JPY hits six weeks highs despite risk aversion
On Tuesday, the USD/JPY pair approaches again the 140.00 zone. The USD/JPY is gaining momentum during the US trading session and climbed to 139.08, reaching the highest level since mid-July. The pair remains bullish amid a stronger US Dollar across the board.US dollar gains momentum despite another decline in Wall …
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30 August 2022 7:02 pm
US equities drop on interest rate worries
Stocks fell for a third day on Tuesday, jeopardizing a summer comeback rally, as the Federal Reserve and other global central bankers continued to send hawkish signals to fight inflation despite the negative consequences for economic growth or the impact on corporate earnings. The S&P 500 fell 1.1% to 3,986.16, …
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30 August 2022 5:41 pm
Elon Musk cites whistleblower claims in latest effort to scrap Twitter deal
Elon Musk’s legal team has given another notice to terminate its $44 billion deal to buy Twitter, citing additional reasons. The latest notice comes after Twitter’s former security chief alleged deficiencies in its security, privacy and content moderation systems earlier this month. On July 8, Musk’s legal team initially filed …
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30 August 2022 4:23 pm
Germany: Annual CPI inflation rises to 7.9% in August
Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany’s Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%. The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred …
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30 August 2022 4:22 pm
Reuters: Iraq’s oil exports have not been affected by political turmoil
Three sources told Reuters on Tuesday that Iraq’s oil exports have not been affected by the current political turmoil. Baghdad is witnessing the worst fighting in years, with clashes between rival Shi’ite groups entering their second day. Two sources confirmed that supporters of Shiite cleric Muqtada al-Sadr, a former leader …
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30 August 2022 3:20 pm
Oil prices plunge against the backdrop of concerns related to inflation
Oil prices fell on Tuesday on fears that the weakness of global economies caused by inflation will reduce demand for fuel, while Iraqi exports will not be affected by the ongoing clashes there. Brent crude futures for October delivery fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 …
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30 August 2022 2:04 pm
Banks push European shares higher as interest rates and recession fears grow
European shares rallied on Tuesday following a two-day sell-off with the banking sector supporting equities. However, concerns over a mounting energy crisis, interest rate hikes and an impending recession capped gains. The pan-European Stoxx 600 index rose 0.4 percent, after declining about 2.5 percent in the previous two sessions, on …
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30 August 2022 1:19 pm
Gold falls due to the rise of the dollar and concerns about raising interest rates
Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal. And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by …
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30 August 2022 12:34 pm
Nikkei rebounds after hitting a two-week low as technology shares rise
The Japanese Nikkei index ended trading on Tuesday, up more than one percent, led by major technology companies, as the benchmark index rebounded after reaching its lowest level in two weeks in the previous session. The Nikkei rose 1.14 percent to close at 28,195.58 points, while the broader Topix index …
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