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Market Analysis

June, 2022

  • 3 June 2022 10:18 pm

    AUD/USD above 0.7200, amid stronger US dollar, risk-off

    The AUD/USD is ready to finish the week positive, up by 0.90%. The chance of a US Federal Reserve 0.50% rate hike in September lies at 80%. The Australian dollar slumps during the last day of the week but it obstinately remains above the 0.7200 threshold as AUD/USD sellers mount …

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  • 3 June 2022 9:26 pm

    EUR/USD slides, suggesting upward exhaustion

    The US dollar strengthens on Friday amid risk aversion and higher US yields. Positive employment report partially offset by a weaker reading of ISM Service PMI. The EUR/USD pair failed to recover the 1.0750 territory and pulled back during Friday’s American treding session toward the 1.0700 level. The pair is …

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  • 3 June 2022 8:24 pm

    Wells Fargo: Improved US labour supply help ease pressure on wages

    The employment report released on Friday indicated a gain in payrolls of 390K, above the 325K of market consensus. According to analysts at Wells Fargo, the report “lands in a sweet spot for the Fed”. Analysts point out that while the labour market remains clearly tight and is adding to …

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  • 3 June 2022 7:59 pm

    WTI Crude Stabilizes at $117 despite OPEC’s output hike

    The WTI crude is holding near Thursday’s highs in the $117 territory despite risk-off Wall Street flows; post-strong US jobs data.Front-month WTI futures held near Thursday’s highs on Friday, despite US equity markets trading with a downside bias on Fed tightening fears following robust US labour market data. WTI retreated …

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  • 3 June 2022 7:18 pm

    Gold Seeks Next Direction Post NFP Data

    Gold prices immediately retreated after the latest official US labour market data, which revealed 390K jobs were added in May, more than the expected 325K. Markets witness a hawkish reaction to the data, with US Treasury yields and the US dollar rising. The yield on the US 10-year note was …

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  • 3 June 2022 4:35 pm

    US Non-farm Payrolls rise by 390K in May versus

    The US economy added 390,000 jobs in May, according to the latest Non-farm Payrolls (NFP) report released by the US Bureau of Labour Statistics on Friday. That was above the median economist forecast for a gain of 325,000 jobs, though slightly lower versus April’s 436,000 gain (revised up from 428,000).

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  • 3 June 2022 4:32 pm

    Turkey’s annual inflation rises to the highest level since 1998

    Data on Friday showed that the annual inflation rate in Turkey jumped to its highest level in 24 years, recording 73.5 percent in May, driven by the repercussions of the war in Ukraine, high energy prices, and the decline of the lira, albeit less than economists’ expectations. Inflation has been …

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  • 3 June 2022 4:19 pm

    European stocks open higher, eyes turn to US data

    European Stocks

    European shares opened higher on Friday as investors awaited US non-farm payrolls data to place bets on the central bank’s tightening of monetary policy while also bracing for any change in the European Central’s stance at its meeting next week. The pan-European Stoxx 600 index saw broad gains in its …

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  • 3 June 2022 4:13 pm

    Oil is falling after the OPEC+ decision to increase production

    Oil prices fell on Friday after the OPEC+ group decided to increase production targets a little more than planned, but global supply shortages and increased demand as China eased Covid-19 restrictions curbed losses. The OPEC + bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent oil …

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  • 3 June 2022 3:04 pm

    Dollar falls ahead of US jobs data

    The dollar fell on Friday as risk appetite increased ahead of US jobs data due later on Friday. Trading witnessed a great calm today, Friday, with the London markets closed due to a public holiday. The dollar index fell 0.1 percent to 101.75 against a basket of other major currencies, …

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  • 3 June 2022 2:18 pm

    Russian oil production rises in May

    The Russian newspaper Vedomosti, quoting a source in the oil sector, reported that Russian oil production, including gas condensate, grew by five percent in May, compared to April, to reach 43.1 million tons. This amount is equivalent to 10.19 million barrels per day. In the January-May period, Russia’s oil production …

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  • 3 June 2022 1:29 pm

    German exports rise 4.4% in April despite dwindling trade with Russia

    Data released by the German Federal Statistics Office on Friday showed that the country’s exports rose more than expected in April, rising 4.4 percent from the previous month, while imports rose 3.1 percent. A Reuters poll had expected exports to rise 1.5 percent on a monthly basis. Exports from Germany …

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  • 3 June 2022 12:24 pm

    Oil stabilizes after doubts

    Oil prices were little changed on Friday and held on to the gains they made in the previous session on doubts that oil producers in the OPEC+ cartel could increase crude production enough to offset Russian oil supply shortfalls. the price of West Texas Intermediate crude futures rose one cent …

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