The week has generally started off quietly and optimistically on the financial markets. Due to a lack of any significant economic news during the US session on Monday, the Dollar Index (DXY) seemed unable to gain from higher T-yields.Key Developments On Monday, the DXY lost gains and fell under 103.00 …
Read More »Wall Street gains as banking crisis worries ease after SVB deal
Main indexes, on Wall Street, climbed on Monday as worries about the banking sector eased following a buyout deal for the deposits and loans of the collapsed US Silicon Valley Bank.The deal is about First Citizens’ acquisition of parts of Silicon Valley Bank which collapsed earlier in March in the …
Read More »Market Drivers – US Session 21/03/2023
Wall Street indexes rose sharply on Tuesday ahead of the Federal Reserve decision, led by shares of regional banks. First Republic stock rose 29%. The Dow Jones gained 0.98%, and the Nasdaq advanced 1.58%. Banking fears keep easing, paving the way for more tightening from central banks. US Treasury Secretary …
Read More »Wall St set to open higher as bank fears ease, focus on Fed
Wall Street’s main indexes were set to open higher on Tuesday as the rescue of Credit Suisse calmed nerves about a bigger banking crisis, while investors awaited the outcome of the Federal Reserve’s monetary policy meet. Traders now largely expect a 25-basis-point rate hike after the Fed’s two-day meeting concludes …
Read More »US Stocks on hopes for banking crisis to ease
US stocks rose Monday, as traders grew hopeful that a crisis in the banking sector may be easing. The gains followed a forced takeover of Credit Suisse by UBS engineered by the Swiss government.The Dow Jones Industrial Average gained 330 points, or `%. Meanwhile, the S&P 500 rose 0.7%, while …
Read More »Wall St opens mixed on bank fears, rate-hike pause hopes
As investors evaluated a state-backed acquisition of Credit Suisse and the likelihood that the Federal Reserve would leave interest rates unchanged this week, Wall Street’s major indexes began neutral on Monday. The Dow Jones Industrial Average rose 10.35 points, or 0.03%, at the open to 31,872.33. The S&P 500 opened …
Read More »Market Drivers – US Session 16/03/2023
The USD/CAD pair finished the week lower around 1.3700 but far from the bottom. Next week, the key report from the Canadian economy will be February’s Consumer Price Index (CPI) on Tuesday. The kiwi was among the biggest gainers despite weak New Zealand Q4 GDP data. TheAUD/USD had the best …
Read More »Market Drivers – US Session – 15/03/2023
Under the looming shadow of the fears related to the banking industry, central banks are now in a more challenging position. Oil prices plunged more than $5 trading around $68.444 per barrel to their lowest in more than a year, meanwhile gold prices renewed their recent rally as investors sought …
Read More »Wall St gains as inflation data bolsters bets of smaller rate hike
Wall Street’s main indexes surged on Tuesday as consumer prices in the world’s largest economy grew in line with expectations, supporting betting on the Federal Reserve raising interest rates by a lower amount at its next meeting. The Consumer Price Index (CPI) in the United States increased 0.4% in February, …
Read More »Upon Signature Bank, SVB collapses, Wall Street divided about the Fed’s next move.
The collapse of Signature Bank and SVB has economists divided on whether it would affect the Fed’s decision to hike interest rates later this month. Policymakers are now dealing with financial panic and persistent inflation.The debate started late Sunday with anticipations that the Fed won’t raise rates at the conclusion …
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