Quick Look The S&P Global composite index indicates a slight economic expansion in February, with manufacturing output at a ten-month high. GDP growth is projected at 2% annually, signalling continued economic expansion. Fed officials highlight optimism and caution, pointing to geopolitical risks and inflation concerns. Mortgage rates have reached a new high since mid-December, potentially …
Quick Overview Gold’s value remains above $2,000/oz amid anticipation of the Federal Reserve’s interest rate decisions. A decrease in gold ETF holdings by 1 million oz suggests waning expectations for imminent rate reductions. Crude oil prices stay steady, with a cautious eye on developments in the Middle East. Notable declines in Indian imports of crude …
Commodities: Gold and Oil Amidst Rate and Tension Dynamics Read More »
Quick Look ICE Brent and NYMEX WTI futures opened lower in Asian trading amid inflation concerns and geopolitical events. US inflation figures dampen expectations for Federal Reserve rate cuts, with significant revisions to the rate cut outlook for 2024. There are divergent views on oil demand, with the IEA forecasting a slowdown and OPEC predicting …
Oil Prices Wobble: Inflation Fears & Geopolitical Sparks Read More »
Quick Look Oil prices remain stable despite tensions in the Middle East from Israel’s actions in Gaza. Trinidad and Tobago face a national emergency due to a major oil spill from a capsized vessel. Year-to-date, WTI and Brent crude prices show the market’s durability against geopolitical and environmental issues. Crude oil continues to be essential …
Oil Market Defies Tensions, Up Amid Global Crises Read More »
Quick Look The crude oil market sees a decline due to US inflation concerns. WTI crude oil approaches the $72 level, with support at $70 and $68. Value hunters and geopolitical factors add complexity to the market. Potential for a rebound as geopolitical tensions rise. Long-term traders may consider favourable entry points. Upside targets include …
Crude Oil Market Sees Decline Amid US Inflation Concerns Read More »
Market Caution Amidst Rate Uncertainty: Futures Respond Cautiously to Powell’s Commentary Investor sentiment remained guarded as stock futures showed tepid reactions to Federal Reserve Chair Jerome Powell’s comments, which dampened expectations for immediate interest rate reductions. The upcoming week, filled with corporate earnings reports, is set to inject further uncertainty into the markets. Futures linked …
Powell’s Rate Comments Fuel Market Caution Amid Earnings Wave Read More »
Oil Market Futures Retreat Amid Middle East Uncertainty Investors are closely monitoring a significant pullback from recent two-month highs in oil market futures, driven by escalating geopolitical tensions in the Middle East. The situation underscores the tight correlation between crude oil prices and global political events, particularly in this unstable region, heightening investor concerns. Warren …
Oil Market Dynamics: Geopolitical Tensions & Demand’s Impact Read More »
Key Points: Oil prices slid due to geopolitical tensions and looming demand concerns Gold demand reached record highs in 2023 due to central bank purchases and anticipation of interest rate cuts Industrial metal prices faced headwinds due to China’s manufacturing sector contraction and the strength of the US dollar Nickel market challenges led to the …
2023 Commodity Trends: Oil Drops by $1.97, Gold Surges 3% Read More »
Eurozone Fails to Break Stagnation Despite Hopes for a Rebound Europe’s economic woes continue as the Eurozone experiences zero growth in the last quarter of 2023, prolonging its struggle for over a year. The stagnant performance is attributed to various factors, including elevated energy prices, increased credit costs, and a downturn in Germany, a former …
Japanese Yen Falters on Disappointing Domestic Data The Japanese Yen (JPY) struggles to gain momentum against the US Dollar (USD) following lacklustre economic indicators. Japanese Retail Sales and Industrial Production figures for December did not meet market expectations, leading to a muted response from the domestic currency. The modest increase in the US Dollar, driven …
Japanese Yen Pre-FOMC: Navigating Economic Winds Read More »
Subdued Futures Reflect Tech Giants’ Performance In the aftermath of tech juggernauts Alphabet and Microsoft revealing their quarterly results, Nasdaq 100 futures witnessed a decline of 0.8% during Tuesday night trading. Simultaneously, futures linked to the S&P 500 slid by 0.4%, while the Dow Jones Industrial Average stocks hovered near the flatline. The pullback in …
Tech Earnings Impact Nasdaq Futures Ahead of Fed Verdict Read More »
Federal Reserve’s Policy Meeting Sparks Investor Caution In the early hours of the European session, the U.S. dollar remained stable within a narrow range as global investors adopted a cautious stance ahead of the Federal Reserve’s two-day policy meeting. The Dollar Index, which measures the greenback’s performance against a basket of currencies, edged 0.1% lower …
Market Caution: Dollar Steady in Currency Markets Read More »
In the intricate dance of global currencies, the Euro continues its steadfast performance, currently trading below the 1.0850 mark. Despite facing pressures, the single currency has proven resilient, holding onto the crucial 1.0800 level. As geopolitical tensions rise, particularly with the recent deadly attack near the Jordan-Syria border, the Euro stands as a robust contender, …
Euro Holds Strong Under 1.0850 Amid Global Tensions Read More »
Despite headwinds from robust economic data, rising real yields, and a strengthening US Dollar, gold has displayed remarkable resilience, predominantly holding steadfast above the $2000 mark. The intricate dance between positive economic indicators and expectations for aggressive rate cuts has created a nuanced environment for traders, prompting careful evaluation of short-term dynamics. Analyzing Daily Trends: …
Gold’s Resilience: Navigating a Volatile Market Above $2000 Read More »
Robust Economic Growth, Challenges, Predictions of Recession The U.S. economy delivered a stunning performance, expanding at an annualized rate of 3.3% in the final quarter of 2023, according to the Commerce Department’s report on Thursday. This robust growth exceeded economists’ expectations, marking a resilient year for the nation that defied projections of an impending recession. …
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