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Market Analysis

May, 2022

  • 19 May 2022 1:57 am

    Fed’s Harker: Soft Landing Possible, Recession Not Likely

    Philadelphia Fed’s President Patrick Harker said he believes the central bank can bring inflation down without sending the economy into a recession, in part because the labour market is currently strong.“We may have a few quarters of negative growth, but again, that’s not what I’m estimating, what I’m forecasting right …

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  • 19 May 2022 1:27 am

    AUD/USD reacts to Australia employment data

    The AUD/USD reverses the pullback from the weekly high, after posting the biggest daily fall in a week, as traders prepare for the Australia employment report for April. Even so, the broad risk-off mood probe the recovery moves near 0.6975-80 amid the early Thursday morning in Asia.Market sentiment soured the …

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  • 19 May 2022 12:31 am

    US Equities slump as retailers ghost investors

    The stock markets dropped on Wednesday, extending their run this year as earnings from retailers including Target and Walmart reinforced concerns about the health of the US economy.The sharp declines were sparked after retailers warned they were facing higher costs and slowing sales, both of which were eating into their …

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  • 18 May 2022 11:15 pm

    EUR/USD Impacted As Investors Abandon High yielding Assets

    The EUR/USD pair edged lower on Wednesday, ending the day near 1.0475 daily low. The pair pulled back from a weekly high of 1.0563 as the market’s sentiment took a turn for the worse mid-European session following the release of inflation figures. The EU CPI growth was confirmed at 7.4% …

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  • 18 May 2022 10:27 pm

    Cryptocurrencies build momentum for a flash crash

    Bitcoin price, on Wednesday, shows that bears are attempting to put BTC into a close last seen in early January 2021. Ethereum price threatens to touch a new lowest 2022 and 10-month close. XRP price action tested the $0.50 as resistance but could not break it.Bitcoin price action during the …

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  • 18 May 2022 9:45 pm

    Canada’s Headline Inflation Could Accelerate Again In May

    Data released on Wednesday showed the annual inflation rate rose to 6.8%, the highest level since January 1991. Analysts at CIBC point out inflation could rise further in May before starting to slowdown during the second half of the year. Key Quotes: “There’s no respite yet for Canadian consumers when …

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  • 18 May 2022 9:09 pm

    USD/CAD price at a critical support structure and eying 1.2950

    USD/CAD started to stall on the offer and bulls could be moving in for a run towards old support near a 50% mean reversion of the bearish impulse on the daily chart located at 1.2936. The M-formation is a reversion pattern that typically results in a retest of the neckline …

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  • 18 May 2022 8:12 pm

    Gold Prices Impacted by risk-aversion

    On Wednesday, the non-yielding metal is almost flat as investors assess the pace of the Fed’s tightening. A buoyant US Dollar keeps gold defensive, though holding above $1800. Gold ETF holdings have fallen for a ninth consecutive day.The Gold Index is trading negatively in the day, though it remains at …

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  • 18 May 2022 7:18 pm

    WTI crude retreats towards $110 on sentiment deterioration

    The American WTI crude oil has retreated back towards $110, with oil prices in downturn on deteriorated risk sentiment. But these dips proved attractive to potential buyers as lockdowns ease in China while Russian OPEC output is still negotiated.Updates about an easing of lockdown restrictions in China failed to hold …

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  • 18 May 2022 5:00 pm

    US: Housing starts fell by 0.2% in April, Building Permits fell by 3.2%

    Housing Starts in the US fell 0.2% in April to 1.724M, below last month’s 1.728M and expectations for a rise to 1.765M. Building Permits, meanwhile, fell from 1.879M in March to 1.819M in April, a drop of 3.2%. That was above the expected drop to 1.812M. 

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  • 18 May 2022 4:44 pm

    Canada: Annual CPI rises to 6.8% in April

    The pace of annual inflation in Canada according to the Consumer Price Index (CPI) rose to 6.8% in April, data released by Statistics Canada on Wednesday showed. That was slightly above expectations for a YoY rate of CPI to come in unchanged from March at 6.7% in April. MoM, prices …

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  • 18 May 2022 4:25 pm

    Moscow: Possible tariffs on Russian oil will force buyers to pay more

    A US proposal to impose tariffs on Russian oil means buyers will have to pay more or look for alternative suppliers, Kremlin spokesman Dmitry Peskov said on Wednesday, May 18. And US Treasury Secretary Janet Yellen said on Tuesday, May 17, that the European Union could combine imposing tariffs on …

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  • 18 May 2022 3:26 pm

    Gold is near its lowest level in 3 and a half months

    On Wednesday, gold prices settled near their lowest levels since late January, under pressure from the recovery of the dollar and the hawkish stance of the Federal Reserve Chairman on inflation. By 0831 GMT, gold recorded in spot transactions 1815.39 dollars an ounce. And US gold futures fell 0.2 percent …

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