On Wednesday, oil prices increased by one dollar per barrel due to the rise in US corn and soybean prices, which reached multi-month highs. This surge in agricultural prices led to expectations that global crop shortages would decrease the blending of biofuels and subsequently increase the demand for oil. Traders noted that Chicago Board of Read More…
On Tuesday, US equities declined, closing with negative results as investors took profits after a sustained rally amid indications of weakening global demand. Fed Chairman Jerome Powell’s upcoming congressional testimony on Wednesday could further impact the market. The S&P 500 and the Dow were weighed down by Exxon Mobil Corp, causing all three major US Read More…
European equities declined on Monday as investors awaited additional stimulus measures from China and focused on the upcoming testimony from Federal Reserve Chair Jerome Powell. US markets were closed for a public holiday, resulting in thin trading. China’s cabinet met to discuss measures for boosting economic growth. According to state media, China lowered its key Read More…
Currency futures closed mixed on Friday after a week full of policy decisions. The Japanese yen weakened against the greenback, reaching its lowest point in six months. The Bank of Japan, as anticipated, maintained its short-term rate target of -0.1% and its 10-year bond yield cap of 0%. Despite higher-than-expected inflation, the central bank continued Read More…
Gold prices increased from a three-month low due to a decline in the dollar and bond yields caused by US economic data. The dollar dropped after the European Central Bank raised interest rates following the Federal Reserve’s pause in rate hikes. The European Central Bank lifted interest rates to a 3.5% high, indicating the possibility Read More…
Oil prices fell by 1.5% on Wednesday after the US Federal Reserve announced more interest rate hikes for 2023. This news raised concerns about demand in the market, especially after government data revealed a significant unexpected increase in US crude oil stocks. Oil had climbed more than 1.5% earlier in the session. The previous day, Read More…
Equities rose on Tuesday amid optimism of a looming Fed pause. The S&P 500 and Nasdaq achieved their highest closing points in 14 months. This was driven by the data release indicating a modest increase in consumer prices in May. As a result, investors are now more confident that the Fed will not lift interest Read More…
US equities rose on Monday, with the S&P 500 and the Nasdaq reaching their highest closing levels since April 2022. Investors eagerly awaited the week’s inflation data and the Federal Reserve’s interest rate decision. Amazon, Apple, and Tesla contributed to the S&P 500’s recovery of 21% from its October 2022 lows. Some investors believe Wall Read More…
Currency futures fell as investors awaited inflation data and the Federal Reserve’s interest rate decision. At the same time, the dollar rebounded from its two-week lows on Friday. The Federal Reserve will likely keep rates unchanged at its June 13-14 meeting. Still, it will likely maintain a hawkish stance and suggest a possible rate hike Read More…
Gold prices rose by 1% on Thursday as US weekly jobless claims surged, strengthening the expectation that the Federal Reserve will pause its interest rate hiking cycle. The surge in new claims for unemployment benefits last week suggests a slowdown in the labor market, indicating potential recession risks. Edward Moya, a senior market analyst at Read More…
