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Market Analysis

April, 2022

  • 5 April 2022 3:20 am

    Market Drivers – US Session – 4 April

    Most major currency pairs struggled to find direction on Monday, as market participants remained cautious ahead of the announcement of new sanctions on Russia. The EUR was the worst performer and the AUD was the best one. Economic DataThe Bank of Canada released its latest Business Outlook Survey and the …

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  • 5 April 2022 2:57 am

    Gold Price hovers around $1,930 ahead of US Services PMI, yields

    Gold is oscillating in a range of $1,915.78-1,949.86 from the last three trading sessions amid positive market sentiment. The digestion of worst-case scenarios amid Russia’s invasion of Ukraine by the market participants has kept the tone of the market favorable. The precious metal is trading lackluster and is looking for …

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  • 5 April 2022 1:13 am

    GBP/USD Flat Despite US dollar’s strength

    The US dollar is robust at the start of the week, with the DXY higher on the day so far by nearly 0.5% and for three straight sessions.Markets still pricing a lot more than what the Bank of England has guided. GBP/USD is flat on the day and has traded …

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  • 5 April 2022 12:39 am

    WTI price holds back above $100

    West Texas Intermediate (WTI) crude oil rose on Monday on persisting supply concerns as Russian energy sanctions are very much on the table following the Russian forces’ civilian killings in north Ukraine. For a fresh high of the day, at $103.82. WTI spot is up by some 4.5% as White …

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  • 5 April 2022 12:30 am

    Knot: To face high inflation, ECB needs gradual but timely normalization

    Dutch central bank head and European Central Bank governing council member Klaas Knot said on Monday that the ECB should act in the face of high inflation and that gradual but timely normalization of policy is needed, reported Reuters. High inflation is not entirely due to the supply shock and …

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  • 4 April 2022 11:44 pm

    US Shares Advances Despite Geopolitical Fears As US Banks Turn More Bullish

    US equities shrugged off geopolitical concerns and advanced on Monday amid outperformance in large-cap tech stocks. Recent Russo-Ukraine war developments raise the risk of an EU embargo on Russian energy imports and peace talk breakdown.But major US banks have been becoming more bullish on the equity market’s outlook. US equity …

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  • 4 April 2022 11:35 pm

    USD/CAD Drops Amid Strong Data, Hawkish BOS Survey

    Though the latest Business Outlook Survey (BOS), released by the Bank of Canada once per quarter, was broadly interpreted as supporting the case for a faster pace of rate hikes from the BoC in the quarters ahead, its impact on the Canadian Dollar was limited. The USD/CAD pair was last …

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  • 4 April 2022 10:17 pm

    Financial Markets Look for Guidance, Why Does Tuesday’s PMI Matter?

    The US dollar has reclaimed 99.00 on expectation of strong US Services PMI on Tuesday. A preliminary estimate for the US Services PMI is 58 against the prior print of 56.5. Nearly 80% of the US economy revolves around services, which heightens attention around the US ISM services PMI as …

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  • 4 April 2022 9:07 pm

    Fed: To Discuss Balance sheet announcement at FOMC Meeting In May

    FOMC minutes

    The release of the Federal Reserve’s latest FOMC meeting minutes on Wednesday will be a key event this week. At that meeting, the central bank raised interest rates as expected. Wells Fargo pointed out the importance of the additional information that will contain the minutes regarding the balance sheet runoff. …

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  • 4 April 2022 9:01 pm

    BoC Business Outlook Survey: Q1 indicator dips to 4.98

    The Bank of Canada released its latest Business Outlook Survey and the headline indicator dipped back to 4.98 in Q1 2022 from the record high of 5.9 it hit in Q4 2021. The BOS survey was conducted before Russia’s invasion of Ukraine and a special survey that was conducted in …

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  • 4 April 2022 7:02 pm

    BoE’s Cunliffe: Ukraine Crisis will intensify, prolong inflation surge

    On Monday, BoE’s Deputy Governor Jon Cunliffe said that the Ukraine invasion will intensify the prolong the surge in inflation and tighten the squeeze on household incomes. A drop in demand through household consumption and business investment will, to an extent that is not yet clear, be greater than be …

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  • 4 April 2022 6:09 pm

    Gold To Remain Supported By Haven Flows

    Gold remains firm in the aftermath of another US strong jobs report issued last Friday. News headlines on war crimes and the potential for more sanctions in the context of East Europe’s tensions are set to keep haven flows strong.Hawkish Fed backdrop is increasingly weighing on the upside momentum of …

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  • 4 April 2022 5:49 pm

    EUR/USD to retest 1.09 fairly quickly on a sustained push under 1.10

    The EUR/USD pair is under strong selling pressure, falling below the 1.10 threshold. Below here, the way is clear for a significant slide to the 1.09 level. Key support at 1.0805 remains vulnerableLast Thursday’s rejection of the upper 1.11s (bearish outside range session) suggests a renewed bear phase for spot …

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