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Market Analysis

March, 2022

  • 4 March 2022 10:43 am

    Europe Can Reduce Gas Imports From Russia by More Than a Third in a Year

    The International Energy Agency said on Thursday that Europe could reduce the import of Russian gas by more than a third within a year, and the agency announced a 10-point plan to reduce the European Union’s dependence on Russian gas. “Nobody is under any illusions anymore. Russia’s use of its …

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  • 4 March 2022 4:17 am

    Market Drivers – US Session – 3 March

    Risk aversion has been leading most assets amid the war fogs and indecisive peace talks in Eastern Europe. Economic DataEarlier on Thursday, the headline ISM Services PMI reading slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the …

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  • 4 March 2022 3:54 am

    Williams Expects Inflation Retreat, But Stay Above Fed’S 2% Goal

    New York Federal Reserve John Williams says that the central bank has to be data-dependent and transparent about its thinking.Williams says officials have to be open to changing course when the data suggests that’s what is needed.Key QuotesSupply chain issues and labour shortages have lasted much longer than expectedThere is …

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  • 4 March 2022 3:39 am

    Ukraine: Over $54 Million Donations In Bitcoin

    Donations in cryptocurrencies such as bitcoin and ethereum are pouring into Ukraine as the war with Russia enters its second week. Since Russian troops invaded Ukraine on 24 February, more than 102,000 cryptoasset donations, totaling $54.7 million, have gone to the Ukrainian government and Come Back Alive Campaign.Donations have also …

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  • 4 March 2022 3:16 am

    US Commerce Secretary reviews how tariff exclusions could ease inflation

    US Commerce Secretary Gina Raimondo said on Thursday the Biden administration was examining whether providing exclusions from tariffs inherited from the previous administration was a way to ease inflation.“The president has asked me, has asked members of his cabinet, to look at every possible tool in our toolbox to deal …

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  • 4 March 2022 2:09 am

    WTI Retreats On Back Of Iranian Supply Prospects

    US oil price is off by some 3% as WTI crude fell off decade highs on Thursday following reports that a deal to allow the return of Iranian supplies to the global market is near.Traders are looking for supplements that can replace Russian exports that have been cut by sanctions …

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  • 4 March 2022 1:35 am

    Ahead NFP Data, Gold Surges, Hitting USD 1,940

    Gold price has surged in the late New York session. It trades now 0.6% higher and has reached a new high of USD 1,941.29. The US dollar has suffered a marginal blow late in the day without fundamental changes or news headlines.The DXY index slid from 97.953 and now sits …

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  • 4 March 2022 12:53 am

    Oil Slides as US Hints Significant Progress in Iran Nuclear Talks

    US State Department said on Thursday that there has been significant progress in nuclear talks with Iran and we are close to a possible deal.However, a number of difficult issues remain unresolved and we will not have a deal unless we can resolve the remaining issues quickly. Oil slid 2% …

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  • 4 March 2022 12:42 am

    US Shares Pare Down Intra-day Losses

    US equities maintained mixed performance on Thursday and defined more by rotation from growth into value than risk-on or risk-off. The S&P 500 recovered most of an intra-day drop of nearly 1.0%, but remains capped under 4400. US equity market trade has been more defined by rotation from high multiple …

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  • 3 March 2022 11:41 pm

    GBP/USD Slides On Fed Expectations

    The GBP/USD pair is down on the day. At 1.3345, cable is losing 0.45% after sliding from 1.3417 and reaching a low of 1.3317. Traders are weighing the impact of Russia’s invasion of Ukraine against the Bank of England’s monetary policy. The BoE is set to hike for a third …

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  • 3 March 2022 10:20 pm

    USD/CAD Rebounds As WTI Oil Pulls Back From Yearly Highs

    USD/CAD is currently trying to settle back above 1.2680, while the US dollar is gaining ground against a broad basket of currencies.The US Dollar Index is testing the resistance level at 97.75. If this test is successful, the US Dollar Index will move towards the next resistance at 98, which …

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  • 3 March 2022 10:03 pm

    3 Charts Explain Gold, Bitcoin Performance Since Russo-Ukrainian War Outbreak

    Russia’s invasion of Ukraine has undoubtedly had a major influence on major financial markets, as some assets benefited and climbed strongly, while others incurred heavy losses. Bitcoin and gold have had the lion’s share of benefits as investors rush to hedge against the consequences of war.After initially falling to around …

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  • 3 March 2022 9:15 pm

    Macklem: QT natural next step after BoC’s rate hike

    Bank of Canada Governor Tiff Macklem said on Thursday that the decision to hike interest rates means ending reinvestments and moving towards Quantitative Tightening (QT) as “a natural next step”.The timing and pace of QT will be fully transparent, Macklem added, saying that when we initiate quantitative tightening, we do …

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