Author
Saqib Iqbal
Bio

Saqib Iqbal is a financial market analyst, serving the industry since 2011. The author is a mentor, providing training to individuals and organizations. Moreover, Saqib is a successful proprietary funds trader, managing a six-figure sum with an average annual ROI of 45%.

Fundamental Analysis

Currency Futures End Lower as Dollar Posts Third Week of Gains

Currency futures fell as the dollar gained for the third consecutive week on Friday due to increased expectations of higher interest rates and ongoing discussions about the US debt ceiling. Talks between President Joe Biden and top congressional Republican Kevin McCarthy showed some progress and calmed investors. However, doubts remained about the timing of an Read More…

Fundamental Analysis

Gold Plunges to 2-Month Low Amid Progress in Debt Ceiling Talks

Optimism surrounding the US debt ceiling talks and strong economic data exerted downward pressure on gold, pushing it to a two-month low on Thursday. Safe-haven demand for bullion diminished as US President Joe Biden and top congressional Republican Kevin McCarthy neared a potential agreement to cut spending and raise the debt ceiling. The progress in Read More…

crude oil technical analysis
Fundamental Analysis

Oil Rallies on Crude Stocks Draw, Saudi Minister’s Warning

Oil prices increased by 2% on Wednesday due to a significant and unexpected decrease in US crude inventories. The Saudi energy minister’s warning about potential OPEC+ production cuts further contributed to the rise.  The Energy Information Administration on Wednesday reported a substantial weekly drawdown of 12.5 million barrels, bringing US crude inventories to 455.2 million. Read More…

crude oil technical analysis
Fundamental Analysis

Equities Plunge Amid No Breakthrough on US Debt Talks

US equities experienced a significant decline on Tuesday, and short-term Treasury yields surged as investor concerns heightened due to the lack of progress in US debt limit negotiations. Representatives from President Joe Biden’s administration and congressional Republicans concluded another round of talks on the debt ceiling on Tuesday. The deadline to raise the government’s borrowing Read More…

Fundamental Analysis

Equities Mixed as Investors Await the US Debt-Ceiling Talks Outcome

US Equities had a mixed finish on Monday as the Nasdaq benefited from gains in Alphabet and Meta Platforms, while the S&P 500 remained nearly unchanged. Investors chose not to make significant bets as they awaited fresh talks about raising the US debt ceiling. US President Joe Biden and top congressional Republican Kevin McCarthy scheduled Read More…

Fundamental Analysis

Currency Futures Climb as Dollar Slips After Powell’s Speech

Most currency futures rose on Friday as the dollar dropped due to Federal Reserve Chair Jerome Powell’s unexpected dovish stance. Contrary to market expectations, Powell stated that the US central bank might not need to raise interest rates as much, considering the tightening of credit conditions.  Additionally, the dollar faced pressure from a pause in Read More…

Fundamental Analysis

Gold Plunges as Hopes for 2023 Fed Rate Cuts Fade

On Thursday, gold prices collapsed as robust US economic data diminished expectations of the Federal Reserve easing. Additionally, gold fell as the greenback received a boost from the anticipation of a US debt ceiling agreement, averting a potential default. A stronger dollar makes for more expensive gold for foreign buyers. Negotiations between the White House Read More…

crude oil technical analysis
Fundamental Analysis

Oil Prices Soar on Optimistic Outlook for US Debt Ceiling Talks

Oil prices rose by approximately $2 on Wednesday due to positive expectations regarding oil demand and ongoing negotiations regarding the US debt ceiling. Despite concerns about an oversupply, the optimism surrounding a potential debt ceiling agreement lifted various asset classes, including oil.  Jim Ritterbusch, the president of Ritterbusch and Associates, stated that the anticipation of Read More…

Fundamental Analysis

Equities Close in the Red as US Consumer Spending Weakens

US equities ended lower on Tuesday due to Home Depot’s disappointing forecast and weaker consumer spending indicated by April’s US retail sales data. There were also uncertainties surrounding interest rates and debt limit negotiations.  Home Depot’s annual sales forecast reduction and larger-than-anticipated profit decline caused its shares to drop by 2.15%. This drop significantly affected Read More…

Fundamental Analysis

Equities Edge Higher Despite Sharp Drop in US Manufacturing Activity

US equities closed slightly higher on Monday as the S&P 500 and Dow had modest gains. However, the New York Federal Reserve’s “Empire State” index, which measures manufacturing activity, fell sharply to -31.8 in May, much lower than the anticipated -3.75. This raised concerns about a possible slowdown in the US economy, which could decrease Read More…