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Market Analysis

March, 2022

  • 4 March 2022 2:09 am

    WTI Retreats On Back Of Iranian Supply Prospects

    US oil price is off by some 3% as WTI crude fell off decade highs on Thursday following reports that a deal to allow the return of Iranian supplies to the global market is near.Traders are looking for supplements that can replace Russian exports that have been cut by sanctions …

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  • 4 March 2022 1:35 am

    Ahead NFP Data, Gold Surges, Hitting USD 1,940

    Gold price has surged in the late New York session. It trades now 0.6% higher and has reached a new high of USD 1,941.29. The US dollar has suffered a marginal blow late in the day without fundamental changes or news headlines.The DXY index slid from 97.953 and now sits …

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  • 4 March 2022 12:53 am

    Oil Slides as US Hints Significant Progress in Iran Nuclear Talks

    US State Department said on Thursday that there has been significant progress in nuclear talks with Iran and we are close to a possible deal.However, a number of difficult issues remain unresolved and we will not have a deal unless we can resolve the remaining issues quickly. Oil slid 2% …

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  • 4 March 2022 12:42 am

    US Shares Pare Down Intra-day Losses

    US equities maintained mixed performance on Thursday and defined more by rotation from growth into value than risk-on or risk-off. The S&P 500 recovered most of an intra-day drop of nearly 1.0%, but remains capped under 4400. US equity market trade has been more defined by rotation from high multiple …

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  • 3 March 2022 11:41 pm

    GBP/USD Slides On Fed Expectations

    The GBP/USD pair is down on the day. At 1.3345, cable is losing 0.45% after sliding from 1.3417 and reaching a low of 1.3317. Traders are weighing the impact of Russia’s invasion of Ukraine against the Bank of England’s monetary policy. The BoE is set to hike for a third …

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  • 3 March 2022 10:20 pm

    USD/CAD Rebounds As WTI Oil Pulls Back From Yearly Highs

    USD/CAD is currently trying to settle back above 1.2680, while the US dollar is gaining ground against a broad basket of currencies.The US Dollar Index is testing the resistance level at 97.75. If this test is successful, the US Dollar Index will move towards the next resistance at 98, which …

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  • 3 March 2022 10:03 pm

    3 Charts Explain Gold, Bitcoin Performance Since Russo-Ukrainian War Outbreak

    Russia’s invasion of Ukraine has undoubtedly had a major influence on major financial markets, as some assets benefited and climbed strongly, while others incurred heavy losses. Bitcoin and gold have had the lion’s share of benefits as investors rush to hedge against the consequences of war.After initially falling to around …

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  • 3 March 2022 9:15 pm

    Macklem: QT natural next step after BoC’s rate hike

    Bank of Canada Governor Tiff Macklem said on Thursday that the decision to hike interest rates means ending reinvestments and moving towards Quantitative Tightening (QT) as “a natural next step”.The timing and pace of QT will be fully transparent, Macklem added, saying that when we initiate quantitative tightening, we do …

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  • 3 March 2022 7:37 pm

    Powell: There will be upward pressure on inflation for a while

    Federal Reserve Chairman Jerome Powell, in the second day of his semi-annual testimony before the US Congress, said that the rise in energy prices will work its way through to the US economy and there will subsequently be upwards pressure on inflation for a while. Key Quotes:“We could see people …

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  • 3 March 2022 7:15 pm

    US: February’s ISM Services PMI Falls Below Expectation

    The headline ISM Services PMI figure slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the Institute for Supply Management.Economic activity in the services sector grew in February for the 21st month in a row, with the Services …

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  • 3 March 2022 4:41 pm

    Europe Can Reduce Gas Imports From Russia by More Than a Third in a Year

    The International Energy Agency said on Thursday that Europe could reduce the import of Russian gas by more than a third within a year, and the agency announced a 10-point plan to reduce the European Union’s dependence on Russian gas. “Nobody is under any illusions anymore. Russia’s use of its …

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  • 3 March 2022 3:21 pm

    Oil at Its Highest Level in Years as US Sanctions Target Russian Refiners

    Oil prices continued their rally on Thursday, with Brent crude heading towards $120 a barrel, its highest level in nearly a decade, due to US sanctions on Russian refiners, shipping disruptions, and a drop in US crude stocks to their lowest level in years. Brent crude futures prices rose to …

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  • 3 March 2022 2:25 pm

    Gold is Consolidating Affected by The Ukraine Crisis

    Gold prices firmed on Thursday as investors remained cautious about the conflict between Russia and Ukraine, which also boosted demand for the safe-haven precious metal, while supply fears pushed palladium to a seven-month high. Gold prices consolidated in spot transactions at $1926.10 an ounce. US gold futures rose 0.4 percent …

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