Day: January 9, 2024

The job report and Services PMI in the US gave the market a bit of a rollercoaster ride last Friday. The dollar flexed its muscles after the employment statistics revealed the US added 216K jobs in December, beating the expected 170K. However, the November job figure got a downgrade to 173K. Unemployment held steady at […]

Gold Turning Lower on Monday Gold prices have come under heavy selling pressure on Monday with the futures market shedding around 1.3% so far. The decline comes against continued strength in the US Dollar on the back of last week’s stronger-than-forecast US jobs data. The headline NFP was seen printing 216k vs 168k expected, up […]

Saudi Arabia Cuts Selling Price Oil prices came under pressure on Monday as traders digested news of fresh price cuts from de-facto OPEC leader Saudi Arabia.  The kingdom slashed the official selling price of its leading product, Arab light crude, it its lowest level in over two years. The price cuts come on the back […]

Daily Market Outlook, January 8, 2024 Munnelly’s Market Minute…  In Asia, stocks experienced a gradual decline following a quiet start, influenced by post-data market volatility in the US and the absence of Japanese participants due to Respect for the Aged Day. The markets are eagerly anticipating key inflation data releases later this week. The Hang […]