On Tuesday, May 9, the Wall Street market opened with mixed results as investors evaluated last week’s developments, including central bank meetings and US labor market data. The Federal Reserve bank survey didn’t cause any major surprises, as banking concerns continued to ease, which supported market sentiment. However, incoming US inflation data, with the Consumer […]
Following a significant recovery in banking stocks on Friday, Wall Street’s major indexes finished the week on a positive note. Markets turned cautious on Monday as attention shifted to the US Federal Reserve’s Senior Loan Officer Opinion Survey, which could reveal new hints about how tight financial conditions are. The Sentix Investor Confidence data for […]
On Friday, May 5th, there was concern on Wall Street due to banking issues and the US bond yields hit new lows. This was because people expected the Federal Reserve to cut rates during the second half of the year. Although the US Dollar Index rose slightly due to the decline in the EUR/USD, the […]
Wednesday, May 3rd saw a significant increase in market volatility, following a sharp decline in equity prices on Wall Street, coupled with large swings in the FX market. Despite the takeover of First Republic Bank, concerns surrounding the banking industry remained as shares of two regional banks sold off. The Federal Reserve’s decision was the […]
On May 2nd, the financial markets experienced significant volatility, despite most major countries observing Labour Day and keeping their local markets closed. The US Dollar gained ground against its rivals, building on its momentum from the previous Friday and then capitalizing on better-than-expected American data. The US Dollar’s rally on Friday was driven by month-end […]
On Monday, May 1st, financial markets started the week off quietly after the previous week’s month-end flows caused some volatility. Despite this, the US Dollar remained strong against its rivals, with the US Dollar Index rising towards 102.00. However, trading activity is expected to be subdued during the first half of the day due to […]
A group of five economically-aligned countries, known as BRICS, consisting of Brazil, Russia, India, China, and South Africa, is reportedly on the verge of a significant expansion. The group is seeking to build a strategic alliance to challenge the decades-long role of the US dollar as the world’s reserve currency. According to South Africa’s BRICS […]
On Thursday, Wall Street experienced its best day in a week with the Dow Jones rising by 1.57% and the Nasdaq by 2.43% as a result of positive earnings reports. Meta Platforms surprised with almost 14% growth. On Friday, more earnings reports are expected from companies such as Exxon Mobil, Chevron, PetroChina, China Construction Bank, […]
The US Bureau of Economic Analysis (BEA) is set to release the Gross Domestic Product (GDP) report for the first quarter of 2023, which is expected to show a 2.0% expansion rate, following the 2.6% growth recorded in the previous quarter’s GDP report. Stocks are down as the GDP report for the US raises expectations […]
The price of gold has risen and broken through the 21-day moving average resistance level at $1,995 on a daily closing basis. This has allowed buyers to push the price above the $2,000 psychological level, but there is still selling pressure at this level. If gold bulls can maintain the price above $2,000, it could […]