On Monday, US equities surged as investors anticipated a week packed with mega-cap earnings, economic data, and the Fed’s monetary policy meeting. All three major US stock indexes moved higher. The Nasdaq, focused on tech stocks, led with the most significant percentage gain. Meanwhile, the S&P 500 set another record closing high. Ryan Detrick, Chief Read More…
On Friday, currency futures rose slightly, with the dollar dipping as December’s inflation data showed a modest rise but indicated a downward trend. This will likely prompt the Fed to cut interest rates by mid-year. Trading slowed in the afternoon before the weekend, with investors preparing for a busy week ahead. The US will release Read More…
Interest futures (ZB) fell on Thursday after a report showed the US economy expanded faster than expected. Additionally, there were indications that inflation was easing. Investors reacted to the faster-than-expected economic growth data by bidding up prices, causing Treasury yields to fall. Charu Chanana, head of currency strategy at Saxo in Singapore, stated that US Read More…
On Wednesday, oil prices increased by approximately 1%, driven by a larger-than-expected decline in US crude inventories. Other factors that supported the rally include a decline in US crude output, Chinese economic stimulus, geopolitical tensions, and a weakening dollar. China’s central bank plans to reduce the reserve requirements for banks starting from February 5, aiming Read More…
On Tuesday, gold prices rose slightly as investors awaited a series of US economic data releases this week. The data is expected to provide insights into the Federal Reserve’s plans for interest rate cuts. Daniel Pavilonis, senior market strategist at RJO Futures, commented that the gold market is hovering just above the $2,000 mark, with Read More…
On Monday, equities rallied as the S&P 500 set another record high, driven by gains in tech stocks. Meanwhile, investors awaited corporate reports for insights into this year’s profit outlook. Additionally, on Friday, the S&P 500 confirmed its bull market status since its low on October 12. Top tech companies like Microsoft and Apple will Read More…
Currency futures were mixed on Friday amid varied economic reports. At the same time, the dollar ended its recent winning streak. Still, it was a bullish week for the dollar because Fed rate cut bets went down with more positive data and hawkish remarks from Fed officials. US consumer sentiment (Source: University of Michigan) The Read More…
On Thursday, oil prices rose as the International Energy Agency and the OPEC producer group predicted robust growth in global oil demand. At the same time, severe winter weather disrupted US crude output. Moreover, the government reported a significant weekly decrease in crude inventories. There was a larger-than-expected draw in crude inventories, totaling 2.5 million Read More…
On Wednesday, Wall Street equities closed lower as December US retail sales data beat expectations. These sales figures dampened hopes for an early start to the Fed’s rate-cut campaign in March. The optimistic sales report on Wednesday prompted economists to revise upward their growth estimates for the fourth quarter. Moreover, the report comes after solid Read More…
On Monday, European equities closed lower as government bond yields increased, following warnings from ECB officials against premature rate cuts. Meanwhile, the US equity market was closed due to a public holiday. Government bond yields rose across the region after ECB’s chief economist Philip Lane cautioned on Saturday that rapid rate cuts could lead to Read More…
