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Market Analysis

January, 2022

  • 19 January 2022 11:49 pm

    Gold Momentum Eases After Prices Ticked $1840

    Gold’s upside momentum has waned in recent trade, with prices trading near $1842 after bursting above resistance in the low $1830s and then subsequently $1840 for the first time in over two months. The speed of spot gold’s latest advances, especially between the $1830 to $1840 area, is suggestive of …

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  • 19 January 2022 11:16 pm

    GBP/USD Traders Eye Fed, BoE, Johnson’s Fate

    The GBP/USD pair is trading at 1.3627 and higher by 0.24% after rising from a low of 1.3585 to a high of 1.3648. Besides domestic drivers, the sterling has benefitted from a pullback in US yields and the US dollar. US Treasury yields are retreating from near two-year highs on …

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  • 19 January 2022 9:40 pm

    US Treasury Yields To Hit 2.25% in 2022

    In their yields outlook analysis, economists at Danske Bank point out that while a European Central Bank rate hike in 2022 is not their baseline scenario, they expect markets to increase price rate hikes in 2023 and 2024. They expect the 10Y US Treasury yields to hit 2.25% in 2022 …

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  • 19 January 2022 9:15 pm

    US Home Building Ends 2021 With Strong Momentum

    Economic figures released on Wednesday surpassed expectations in the US with Housing starts rising 1.4% in December to 1.70 million (annual). Analysts at Wells Fargo point out a milder than usual weather allowed more construction to take place in what is normally a seasonally slow month.Key Quotes: “Home building finished …

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  • 19 January 2022 8:47 pm

    WTI Crude Hits Highest Price Since 2014

    Iraq-Turkey pipeline outage has sparked fresh supply concerns. WTI crude has hit $87.82 for the first time since September 2014 on Wednesday. A momentary outage of an Iraqi-Turkish pipeline was attributed as driving the most recent oil price gains.But the broader themes of tighter than expected market conditions and rising …

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  • 19 January 2022 8:26 pm

    Will BoC Delay Monetary Policy Normalization

    Data released on Wednesday showed the Canadian CPI rose in December to 4.8% (annual), the highest level since 1991. Core inflation will likely continue to run around 2.3% and 3%. They see the Bank of Canada raising rates five times during 2022 according to analysts at the National Bank of …

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  • 19 January 2022 7:26 pm

    BoE’s Bailey: Regional agents are seeing some evidence of second-round inflation effects

    Bank of England Governor Andrew Bailey, who is currently testifying before the UK Parliament’s Treasury Select Committee, said on Wednesday that regional agents are seeing some evidence of second-round inflation effects. Additional Quotes:“Since November, financial markets have pushed back when they expect energy prices to fall.”“Tension on the Ukrainian border …

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  • 19 January 2022 6:23 pm

    Market Drivers – European Session 19-1-2022

    Data released today by Statistics Canada showed that the inflation index grew as expected for the third consecutive month in December, as the consumer price index fell by 0.1% in December, in line with market expectations, but less than the previous reading, which recorded an increase of 0.2 % last …

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  • 19 January 2022 6:00 pm

    Oil at Its Highest Level Since 2014

    Oil prices rose on Wednesday for the fourth consecutive day after a pipeline fire from Iraq to Turkey briefly halted supplies, raising concerns about an already-existing outlook for near-term tightness. Brent crude futures rose 48 cents, or 0.6 percent, to $ 87.99 a barrel by 1245 GMT, after rising 1.2 …

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  • 19 January 2022 5:22 pm

    Gold Rises From Its Lowest Level in a Week

    Gold prices rose on Wednesday, but moves were limited as markets looked ahead to the upcoming Federal Reserve meeting as it is widely expected to raise interest rates in an attempt to contain rising inflation. Gold in spot transactions rose 0.2 percent to $ 1817.90 an ounce by 1217 GMT, …

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  • 19 January 2022 4:08 pm

    UAE Energy Minister: We Are Committed to Supporting The OPEC+

    The Emirates News Agency quoted Energy Minister Suhail Al Mazrouei as saying on Wednesday that his country is committed to supporting the OPEC+ alliance to achieve a balance between supply and demand. The agency also quoted the minister as saying that the UAE is working to establish a platform for …

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  • 19 January 2022 3:22 pm

    UAE Energy Minister: I Am Not Concerned About Oil Price Expectations in The Short Term

    UAE Energy Minister Suhail Al Mazrouei said on Wednesday that he is not concerned “in the short term” when asked about analysts’ expectations that oil prices will exceed $100 a barrel. The price of the benchmark Brent crude contract rose 0.33 percent on Wednesday to $ 87.76 a barrel, with …

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  • 19 January 2022 2:34 pm

    European Stocks Fall at The Beginning of Trading, With Global Stock Market Losses

    European Stocks

    European shares fell at the beginning of Wednesday’s trading, led by shares of food and beverage companies and with global stock markets losses. Economic data in the UK revealed that inflation rose to a 30-year high in December at 5.4%, exceeding analysts’ expectations of 5.2%. “We’re hearing a lot of …

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