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Market Analysis

May, 2022

  • 26 May 2022 5:06 am

    Market Drivers – US Session – May 25

    The US dollar aimed to recover ground but pared its advance during US trading hours, ahead of the FOMC Meeting Minutes. The document showed that all members supported plans to reduce the balance sheet, while some added that, after the runoff was well underway, it would be appropriate to consider …

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  • 26 May 2022 4:58 am

    Could Biden’s climate agenda bring about permanent recession?

    Americans are asking “Are we in a recession?” or “When are we going into recession?” Opponents of the current administration suggest that should US President Joe Biden continue to pursue his climate, fossil-free agenda, American economy could fall into a permanent recession. It could partly be replaced by nuclear power, …

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  • 26 May 2022 2:36 am

    Fears grabble Bitcoin price, but signs of a potential reversal exist

    Bitcoin

    The crypto market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday FOMC meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates.The Fear and Greed Index is exhibiting its longest …

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  • 26 May 2022 1:02 am

    RBNZ Orr: Can’t rule out a recession

    Following Tuesday’s Reserve Bank of New Zealand’s interest rate decision, the governor, Adrian Orr said, Wednesday that he can’t rule out a recession but he does not predict it is inevitable. Orr also said an increasing labour force will push the jobless rate up and that government spending is adding …

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  • 26 May 2022 12:07 am

    USD/CAD Struggles, Slides Post-FOMC Minutes

    The USD/CAD pair retreats from weekly highs, extending its losses in the week to 0.18%. FOMC minutes confirmed that the June and July meetings would witness a 50-bps rate hike, each. USD/CAD, In the short term, is downward biased, and a break below 1.2713 would send the pair towards 1.2630.The …

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  • 25 May 2022 11:20 pm

    WTI edges higher on tight supply, rising US refining activity

    Crude oil price slightly rose on Wednesday, buoyed by tight supplies and as US refiners drove refining activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 9 cents to $113.65 a barrel. US West Texas Intermediate (WTI) crude for July delivery …

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  • 25 May 2022 10:15 pm

    FOMC Minutes sink the US dollar

    The Federal Open Market Committee minutes have been released which are so far sending the US dollar DXY index a touch softer.At the May 3-4 meeting, the Fed hiked rates the expected 50 bp to 1.0% and laid out plans for aggressive Quantitative Tightening to begin in June. There is …

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  • 25 May 2022 9:09 pm

    EUR/USD Set To Tick Higher, Eying Catalyst From Fed

    For the Fed minutes and sessions ahead, the pair could be based here and result in a higher correction from support. Any Ultra Hawkish remarks by FOMC minutes will likely support the US dollar and potentially send the euro below 1.0640 towards a daily 61.8% ratio down at 1.0615.The US …

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  • 25 May 2022 8:12 pm

    Gold slumps towards $1840s ahead of FOMC minutes

    Gold price retreats from weekly highs around $1870 as investors prepare for the Fed’s May minutes. The US dollar remains buoyant, despite falling US bond yields and weighs on XAU/USD’s price.Gold slides below the 20-day moving average (DMA) and accelerates towards the 200-DMA at $1839.66 on Wednesday, courtesy of a …

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  • 25 May 2022 7:32 pm

    GBP/USD bounces from weekly lows, heading firmly above 1.2530

    The GBP/USD pair stops Tuesday’s losses and recovers some ground, gaining 0.42% in the week. The positive market sentiment boosts the prospects of the sterling, despite a strong US Dollar. The British pound recovers some ground on Wednesday during the North American session, bouncing near weekly lows around 1.2480s and …

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  • 25 May 2022 6:13 pm

    The dollar rises from its lowest level in a month

    The US dollar turned higher on Wednesday after two consecutive days of losses as the recent decline in US Treasury yields halted, and the dollar’s rally outpaced the euro and the New Zealand dollar that had earlier surged, driven by an announcement of tight monetary policy from the central bank. …

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  • 25 May 2022 4:58 pm

    US: Durable Goods Orders rise in April

    US Durable Goods Orders rose by 0.4% MoM in April, the latest data from the US Census Bureau on Wednesday showed, below expectations for a 0.6% rise and down from March’s 0.6% MoM growth rate (which had been downwardly revised from 0.8%). The more widely followed Core Durable Goods Orders …

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  • 25 May 2022 3:25 pm

    Reuters: Japan government to urge BOJ to meet inflation goal sustainably

    Japan’s government is seen calling on the Bank of Japan (BOJ) to strive for achieving its 2% inflation target in a “sustainable and stable fashion,” Reuters reports on Wednesday, having seen a draft of its long-term policy outline. “The government will continue to conduct macro-economic policy flexibly … with a …

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