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Happy Friday, traders! Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market and may continue to into the future for the US Dollar and other key correlated assets.…
Oil treads water ahead of OPEC+ panel meeting, PCE inflation data Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria,…
Dollar wobbles near eight-month low ahead of central bank meetings The dollar held close to an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week. The U.S. dollar index, which measures…
Oil rises on China recovery hopes, OPEC+ seen standing pat Crude oil prices inched higher on Wednesday as optimism for a demand recovery in China and expectations that major producers will maintain current output policy offset global recession worries. Brent crude rose 17 cents, or 0.2%, to $86.30 per barrel by 0740 GMT after falling…
Dollar in doldrums as euro near 9-month peak, yen bounces The dollar hovered near a nine-month low to the euro and gave back recent gains against the yen on Tuesday, as traders weighed the risks of a U.S. recession and the path for Federal Reserve policy. The U.S. dollar index – which measures the greenback…
Here is what you need to know about the important news between January 23rd, 2023, and January 27th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Euro clears 9-month peak as ECB hawks let fly. The euro scaled a nine-month high on the dollar on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as far as $1.0903, breaking the recent peak of $1.08875 and opening the way…
Happy Friday, traders! Welcome to our weekly market wrap, where we look back at these last five trading days with a focus on the market news, economic data and headlines that had the most impact on the financial market – and may continue to into the future for the US Dollar and other key correlated…
Oil prices set for second week of gains on brighter China outlook. Oil prices were set to post a second straight week of gains on Friday, spurred largely by brightening economic prospects for China which should boost its fuel demand. Brent futures for March delivery gained 30 cents, or 0.35%, to $86.46 a barrel by…
Oil prices dip as markets gauge U.S. inventory build Oil prices fell further on Thursday as industry data signalled another big weekly build in U.S. crude inventories, while weak economic data and a potential rise in interest rates fanned growing fears over a looming recession. Data from the American Petroleum Institute showed that U.S. oil…
Oil prices muted amid recession fears, OPEC report awaited Oil prices moved little on Tuesday as markets awaited a slew of economic readings this week to gauge the potential for a recession, with focus also turning to demand forecasts from several major industry bodies, starting with the OPEC. Crude prices showed a muted reaction to…
Asia FX rises, Japanese yen hits over 7-mth high on BOJ speculation Most Asian currencies advanced against the dollar on Monday, cheered largely by the prospect of smaller interest rate hikes by the Federal Reserve, while speculation over another hawkish move by the Bank of Japan pushed the yen to an over seven-month peak. The…
Here is what you need to know about the important news between January 16th 2023 and January 20th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Crypto.com to cut 20% jobs as industry rout deepens after FTX collapse Crypto.com said on Friday it would be reducing about 20% of its workforce, as cryptocurrency exchanges face industry-wide challenges brought on by the collapse of FTX last year. The Singapore-based company’s announcement comes amid concerns about reserves and solvency across the sector, and…
Asia FX steadies before U.S. CPI data, dollar nears 7-month low Most Asian currencies crept higher on Thursday and the dollar fell in anticipation of data showing a further easing in U.S. consumer inflation, while the Japanese yen rallied sharply after the country logged a record-high current account surplus. The yen jumped 0.7% to 131.61…
Asian shares touch six-month high, focus firmly on U.S. CPI data Asian shares rose to a six-month high on Wednesday while the dollar steadied, as investors waited for U.S. inflation data for cues on the Federal Reserve’s interest rate policy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose as much as 0.82% to touch…
Oil slips on concerns higher interest rates to crimp demand Oil edged lower on Tuesday on expectations that further interest rate hikes in the United States, the world’s biggest oil user, will slow economic growth and limit fuel demand. Brent futures for March fell 33 cents to $79.32 a barrel, a 0.4% drop, by 0719…
Here is what you need to know about the important news between January 9th, 2023, and January 13th, 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…
Goldman Sachs to cut about 3,200 jobs this week after cost review Goldman Sachs Group Inc (NYSE:GS) will start one of its biggest rounds of job cuts ever, as it locks in on a plan to eliminate about 3,200 positions this week, Bloomberg News reported on Sunday. The financial services major is expected to begin…
Asian stocks surge on China recovery bets, smaller Fed rate hikes Most Asian stock markets rallied on Thursday after the minutes of the Federal Reserve’s December meeting pointed to smaller interest rate hikes, while a mild improvement in Chinese business activity ramped up bets on an economic recovery this year. Chinese stocks were the best…