Category Archives: Daily Market Analysis
Credit Rating Agencies Threatens to Cut U.S. Rating
Written on May 25, 2023 at 5:56 am, by jonywang
Fitch has threatened to lower the US’ AAA rating as the debt ceiling issue remains at an impasse Wall Street slid as well as the Asian stock markets as the worries over the debt ceiling escalated when the time was getting closer to the X-date. Meanwhile, the dollar strengthened to its highest level since MarchContinue Reading
U.S. Debt Ceiling Remains At An Impasse
Written on May 24, 2023 at 6:01 am, by jonywang
The Biden-McCarthy meeting on the debt-limit bill has yet to yield any deal to avert a catastrophic U.S. default, with U.S. Treasury secretary warning that the country will run out of cash in June. Market sentiment worsened as the White House has no more meetings planned; and gold prices have rebounded due to heightened risk-offContinue Reading
Biden-McCarthy Talks Productive
Written on May 23, 2023 at 5:59 am, by jonywang
Both President Biden and the House Speaker claimed that yesterday’s meeting on the debt-limit bill has a productive outcome but both parties are yet to come to an agreement. Meanwhile, U.S. treasury secretary Janet Yellen, reiterated that the department will run out of cash in early June. The dollar index has strengthened and is poisedContinue Reading
Debt-Limit Talks Resume
Written on May 22, 2023 at 5:58 am, by jonywang
After a brief setback in debt ceiling talks, US President Joe Biden is set to resume discussions with Kevin McCarthy President Biden is scheduled to resume discussions on the debt limit with House Speaker Kevin McCarthy on Monday, following his participation in the G-7 Summit. The dollar index reached its highest level since March beforeContinue Reading
Dollar Surges On Positive Data And US Debt Ceiling Deal
Written on May 19, 2023 at 6:10 am, by jonywang
Optimism In The Markets Has Seen The US Dollar Index And Equities Rising In Tandem The Dollar Index surged, buoyed by upbeat economic data, and the optimism surrounding a potential deal to raise the US debt ceiling. Prominent Republican Kevin McCarthy expressed confidence in passing a bill to increase the debt ceiling, surpassing previous progress.Continue Reading
Biden Confident On Debt Ceiling Bill
Written on May 18, 2023 at 6:01 am, by jonywang
President Biden is confident in reaching a bipartisan agreement with congressional leaders to elevate the debt ceiling, effectively averting an unprecedented default situation for the United States. This development has sparked a wave of optimism, prompting the dollar to trade higher, while the safe haven commodity gold languishes amid the surge in risk-on sentiment. Meanwhile,Continue Reading
Positive Progress On U.S. Debt Ceiling Bill
Written on May 17, 2023 at 6:08 am, by jonywang
Investors are rotating out of gold en masse on optimism surrounding the U.S. avoiding a default Both President Biden and House Speaker Kevin McCarthy struck an optimistic tone regarding the prospects of reaching a consensus to raise the national debt ceiling and avert a potentially catastrophic default on the debt. As a result, gold pricesContinue Reading
All Eyes On Biden Meeting Outcome
Written on May 16, 2023 at 6:05 am, by jonywang
US Treasury Secretary Janet Yellen has once again emphasised the need to pass the debt ceiling bill before June 1, warning that failure to do so could result in the federal government running out of cash to meet its obligations. President Biden is set to hold a meeting with congressional leaders today to reach aContinue Reading
Dollar Boosted By Fed’s Hawkish Comments
Written on May 15, 2023 at 5:52 am, by jonywang
A bounce in the U.S. dollar has put downward pressure on oil and gold prices Equity markets were stagnant while the dollar has strengthened, driven by hawkish comments from various Fed officials stressing high inflation in the U.S. On the other hand, President Joe Biden and the country’s congressional leaders are going to meet onContinue Reading
Biden-McCarthy Meeting Postponed
Written on May 12, 2023 at 8:26 am, by jonywang
Investor sentiment has taken a hit in the market following the postponement of a meeting between U.S. President Joe Biden and the House Speaker to address the looming debt ceiling crisis. The Biden administration is under pressure to pass the debt ceiling bill by June to avoid a potential default on the country’s bills. Meanwhile,Continue Reading
