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Market Analysis

September, 2022

  • 27 September 2022 3:05 am

    Market Drivers – US Session 26/09/2022

    The US dollar was able to maintain its uptrend momentum and soared at the beginning of the week, pushing major pairs into fresh multi-year lows. The GBP/USD pair nosedived to record 1.0317 low and now trades around 1.0690, still down on the day. The Bank of England was expected to …

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  • 27 September 2022 2:37 am

    EUR/USD wavers above 0.9600 ahead of US durable goods data

    EUR/USD has hovered around 0.9610 as the market players’ focus shifts to US Durable Goods Orders data. Costly durable goods and accelerating interest rates have trimmed expectations for US economic data.ECB Lagarde’s speech provide clues for likely monetary policy action ahead. The EUR/USD pair is displaying back-and-forth moves in a …

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  • 27 September 2022 2:13 am

    Gold Hits fresh lows amid fears to fall further

    Gold is sliding into fresh lows after being held back by the bears below $1,650 on corrections on Monday. The precious metal dropped to the lowest in more than two years while the US dollar extends its uptrend due to recession-linked fears and rising interest rates. The US bond yields …

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  • 27 September 2022 1:16 am

    Fed’s Bostic: UK tax cuts increase risk of global recession

    The UK government’s new fiscal plan increased economic uncertainty and raised the concerns of a global recession, a top official at the US central bank warned after the pound sterling touched an all-time low.Raphael Bostic from US central bank’s Atlanta branch has warned of ‘uncertainty’ after the British pound touched …

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  • 26 September 2022 11:44 pm

    USD/CAD restrained below highs in the 1.3800s

    The USD/CAD is holding in bullish territory with the US dollar spiking to fresh bull cycle highs. Market volatility has dented the high beta CAD in the face of weaker oil prices.The USD/CAD is up over 1.3% on the day as the pair tries to hold on to near the …

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  • 26 September 2022 11:08 pm

    Is modest economic slowdown in the US possible?

    Susan Collins, the new president of the Federal Reserve Bank of Boston, said Monday that a higher unemployment rate will be needed to bring down inflation from unusually high levels, but also suggested any economic downturn would likely be modest.In her first speech as Boston Fed president, Collins said the …

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  • 26 September 2022 9:55 pm

    Negative Macro Economic Data Drag Wall Street Lower

    US stocks and oil prices declined in choppy trading on Monday, even as the dollar and Treasury yields rose, as Wall Street digested a raft of what it read as negative macroeconomic news.With markets already jittery from central bank signals of additional interest rate hikes, U.K. government fiscal plans released …

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  • 26 September 2022 9:24 pm

    GBP/USD back into negative territory on BoE statement

    The GBP/USD pair is at the lowest level since the European session following a statement from the BoE amid risk aversion. The pair is back into negative territory trading around 1.0676, at the time of writing down almost 200 pips from Friday’s close at 1.08504.On Asian hours the pound suffered …

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  • 26 September 2022 8:33 pm

    Nagel: ECB needs decisive rate hikes

    The European Central Bank (ECB) Governing Council member and German central bank head Joachim Nagel said on Monday that decisive rate hikes are needed amid rising risks of inflation expectations getting de-anchored.“The risk that long-term expectations get de-anchored remains high,” Nagel explained. “Further decisive action is required to bring the …

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  • 26 September 2022 7:49 pm

    Brent crude hovers around $85

    Brent crude futures briefly consolidated above the $86 per barrel mark, before the price fell to around $85. At the time of writing, Brent is trading at $85.25 versus Monday’s opening price at $86.11 after departing the eight-month low of $84.6, supported by concerns about further supply disruptions, particularly those …

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  • 26 September 2022 7:07 pm

    Dallas Fed September manufacturing business index falls to -17.2

    The Dallas Fed manufacturing index for September 2022 fell to -17.2 versus the prior reading of vs -12.9. Order rate has decreased over the past month. We are only working four days on some of our equipment. Although new orders did surge, there are still several uncertainties and key issues …

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  • 26 September 2022 4:59 pm

    JPMorgan: Brent crude may rise to around $100 in Q4 2022


    JPMorgan expected the price of Brent crude to rise again towards levels of $100 a barrel, with supply shrinking in the coming months. And the US bank said in a note last week that Brent crude will record levels of $ 101 a barrel in the fourth quarter and $ …

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  • 26 September 2022 3:55 pm

    Japan’s forex intervention estimated at $25 billion – Reuters

    Citing calculations made by Tokyo money market brokerage firms, Reuters reported on Monday that Japan’s intervention in the foreign exchange market on September 22 is estimated to be around 3.6 trillion yen ($25 billion). Japan’s Ministry of Finance is expected to unveil the amount spent during the intervention on Friday. …

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