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Market Analysis

July, 2022

  • 12 July 2022 10:36 am

    Renault sales 2022 fell by 30% after the exit from Russia

    French carmaker Renault on Tuesday reported a decline in its car sales in the first half of 2022 after shutting down its activities in Russia, its second-largest market, following the invasion of Ukraine. The group said its worldwide sales fell 29.7 percent compared to last year, to just over one …

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  • 12 July 2022 3:54 am

    Market Drivers – US Session – Monday, July 11

    The US dollar touched fresh highs against most major rival currencies, as the week started amid risk-off mode. The EUR/USD pair trades in the 1.0040 price zone, its lowest since December 2002. The shared currency is under additional pressure amid an energy crisis. As expected, Russia closed the Nord Stream …

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  • 12 July 2022 2:34 am

    Gold trades around key support at $1,730

    Gold price is struggling to find a way out by surrendering the critical support of $1,730.00 as the US Dollar Index, on Monday, prints a fresh 19-year high at 108.27 on expectations for higher US Inflation.Gold is also displaying subdued performance and the volatility prior to the release of the …

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  • 12 July 2022 1:20 am

    Bitcoin Leads Crypto Slide, Extending Weekend Losses

    Bitcoin retreated below $21,000 on Monday after climbing to $22,000 last Friday. The cryptocurrency dropped 2.2% to $20,489, while Ether dipped 3.1% to $1,140 as of 4:00 pm ET Monday. Major cryptoassets’ slide came after the Bloomberg MLIV Pulse survey indicated that 60% of respondents thought bitcoin would head lower …

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  • 12 July 2022 12:17 am

    AUD/USD wavers above 0.6730 ahead of US Inflation

    The AUD/USD pair has turned sideways after a sheer downside move to Monday’s low at 0.6715 on a risk-off impulse on the market. The asset is hovering around its fresh monthly low as the US dollar index (DXY) has printed a fresh 19-year high at 108.27.The AUD/USD pair is hovering …

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  • 11 July 2022 11:43 pm

    USD/CAD climbs on negative sentiment, stronger US dollar

    The USD/CAD buyers regain control and lift the pair above 1.3000, eyeing the 1.30776 level. Lower risk appetite is impacting investors’ calculations ahead of the US CPI to keep the USD/CAD upward pressured.The Bank of Canada (BoC) is expected to hike rates by 75 bps, as shown by STIRs futures. …

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  • 11 July 2022 10:51 pm

    US Equities retreat as earning season looms

    The three major US equity indices drop between 0.29% and almost 2%. Risk-aversion dominates Monday’s trading session. China’s covid-linked fears, in addition to hot inflation drag corporate profits lower as the earnings session approaches. US equities broke five days of consecutive gains, trading lower on Monday, courtesy of risk aversion …

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  • 11 July 2022 9:54 pm

    T-Yields retreat as traders eye Wednesday’s key inflation data

    US Treasury yields retreated on Monday as traders continued to digest strong numbers in the latest jobs report and braced for key inflation figures that will be released on Wednesday.Last Friday, investors absorbed the June employment report that showed jobs growing at a faster clip than expected. Nonfarm payrolls increased …

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  • 11 July 2022 9:39 pm

    Euro To Stay Low In The Near Term

    The EUR/USD pair hit new cycle lows on Monday at 1.0050 as it is set to continue to approach parity. The next half of 2022 is unlikely to foster conditions for euro appreciation as the European economy could be in a technical recession, explained analysts at National Bank of Canada. …

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  • 11 July 2022 8:46 pm

    BoE’s Bailey: Several things on table for August meeting

    While testifying before the UK Treasury Select Committee on Monday, Bank of England (BOE) Governor Andrew Bailey argued that they should not pre-commit to the next policy move and said they have a range of options for the August meeting.Bailey’s comments failed to help the British pound find demand and …

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  • 11 July 2022 7:47 pm

    US Median 1-year inflation expectations rise to 6.8% in June

    The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US Consumers’ one-year inflation expectations rose to 6.8% in June from 6.6% in May. The three-year inflation expectations, however, declined to 3.6% from 3.9%.As a reaction, the US Dollar Index edged slightly lower …

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  • 11 July 2022 7:15 pm

    Fed’s George: Speed at which interest rates should rise an open question

    Kansas City Fed President Esther George, who voted against the 75 basis points rate hike in June, said on Monday that the pace of rate increases needs to be carefully balanced against the state of the US economy.George’s comments do not have an immediate impact on the US dollar’s valuation. …

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  • 11 July 2022 6:00 pm

    Crypto markets await a greener start to the week

    The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed its central role in the current ecosystem. For example, stablecoins are …

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