{"id":65404,"date":"2022-05-14T02:35:31","date_gmt":"2022-05-13T22:35:31","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=65404"},"modified":"2022-05-14T02:57:24","modified_gmt":"2022-05-13T22:57:24","slug":"market-drivers-us-session-friday-13-may","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-friday-13-may\/05\/14\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Friday 13 May"},"content":{"rendered":"\n

On Friday, financial markets witnessed some kind of improvement in risk sentiment and a correction of the US dollar. The euro is still headed toward the lowest weekly close since December 2002.

Economic Data<\/strong><\/p>\n\n\n\n


<\/strong>Risk sentiment is the key market mover on Friday. Economic data from the US showed a larger-than-expected decline in Consumer Confidence to the lowest since 2011. Fed\u2019s Kashkari mentioned that inflation is much too high and explained that a recovery in the supply chain could help the Fed.

Other Developments<\/strong><\/p>\n\n\n\n


<\/strong>Wall Street surged on Friday to close higher after a week\u2019s wild market rotations. The surging US equities received a push from relief signs denoting that peaking inflation vied with concerns that policy tightening by the Fed could slope the US economy into unwanted recession.

Loretta Mester is a voting member of the Federal Open Market Committee this year. Mester said, on Friday, that the Fed needs to practice pressure ahead with aggressive rate hikes, and that by early fall, this year, the US central bank perhaps could be able to eventually decide whether its current policy can tame hot inflation or will need to speed up the process of removing support from the economy.

Oil prices surge for a third straight session on Friday, with front-month WTI future last trading higher by close to $3.0 in the mid-$109.00s per barrel, more than $11 higher than mid-week lows in the $98.00s.

The rally on Friday was partially spurred by a rebound in global equity markets at the end of what has, for them, been a difficult week marred by concerns about central bank tightening and weakening global growth.

WTI\u2019s rally on Friday still leaves it lower by about $1.0 on the week, though the bullish momentum of the past few days suggests a test of recent highs in the $111.00s is certainly a possibility by the end of this week\/early next. Recent bullish momentum in crude oil markets comes despite a few potentially bearish fundamental developments in recent days.

Also Read
<\/strong>US Shares Close Wild Week Higher<\/a> <\/p>\n\n\n\n

Expert: BoE\u2019s aggregate rate policy could hit 4%<\/a><\/p>\n\n\n\n

Fed\u2019s Mester: FOMC On Track For Aggressive Rate Hikes<\/a><\/p>\n\n\n\n

Russian Ruble Best Gainer In 2022<\/a><\/p>\n\n\n\n

Gold Price Still Under Pressure Near $1800<\/a><\/p>\n\n\n\n

EUR\/USD surges above 1.0400 from multi-year lows as equities soar<\/a><\/p>\n\n\n\n

Wells Fargo: US Consumer Sentiment hit from everywhere<\/a><\/p>\n\n\n\n

WTI rallies for third session near $109.00<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, financial markets witnessed some kind of improvement in risk sentiment and a correction of the US dollar. The euro is still headed toward the lowest weekly close since December 2002.Economic Data Risk sentiment is the key market mover on Friday. Economic data from the US showed a larger-than-expected decline in Consumer Confidence to …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,39,36],"tags":[6885,6874,6987,8653,8768],"class_list":["post-65404","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-global-stock-markets","category-market-updates","tag-fed","tag-gold","tag-inflation","tag-kashkari","tag-loretta-mester"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=65404"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65404\/revisions"}],"predecessor-version":[{"id":65410,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/65404\/revisions\/65410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=65404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=65404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=65404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}