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Market Analysis

January, 2023

  • 14 January 2023 3:40 am

    Market Drivers – US Session 13/01/2023

    The US Dollar Index (DXY), which measures the buck’s performance against a basket of six rivals, erases its earlier gains, down 0.04%, at 102.201. During the session, the USD/CHF cleared the 20-day EMA at 0.9293 and cleared the 0.9300 mark. Nevertheless, as the dollar weakened, the major retreated those gains …

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  • 14 January 2023 2:36 am

    USD/CAD’s rally stalled on perplexed US dollar

    The USD/CAD pair finished Friday’s session with gains, though it hesitated to go past the 1.3400 mark. The pair is trading at 1.3393 at the time of writing. The USD/CAD prolonged its weekly losses and tumbled for the fourth consecutive week, losing 0.36%, but on the day, the USD/CAD is …

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  • 14 January 2023 1:28 am

    US Stocks had biggest midday moves on Q4 earnings

    Shares of JPMorgan, which is the biggest US bank by assets, surged more than 2% after the firm posted Q4 profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 billion, or $3.57 per share. Interest income at the …

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  • 14 January 2023 12:30 am

    Gold is soaring on Fed’s less hawkish tone, falling T-yields

    At the time of writing, gold price is hovering around $1,920 on Friday, hit a new 9-month high as investors anticipate the US central bank to adopt a less aggressive stance following Thursday’s softer inflation data. Bets for a 25-bps rate hike by the Federal Reserve lie at a 94.2% …

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  • 13 January 2023 11:28 pm

    Consumers Feel More Optimistic Into 2023

    Consumers kicked off the new year feeling more optimistic about the US economy, according to preliminary results from the University of Michigan’s consumer survey. The consumer sentiment index rose to 64.6 in the first two weeks of January, rising 8% from the previous reading of 59.7 for December and coming …

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  • 13 January 2023 3:14 pm

    Yen rises supported by speculation of a policy adjustment by BoJ

    The yen continued to rise, supported by speculation that Japan might adjust its ultra-loose monetary policy, while the dollar approached its lowest level since June against major currencies. The Bank of Japan differs from most central banks in the world by sticking to stimulus while other banks raise interest rates, …

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  • 13 January 2023 3:13 pm

    Germany: 2022 preliminary GDP expands 1.9% YoY

    Germany’s preliminary Gross Domestic Product (GDP) expanded by 1.9% on an annualized basis in 2022 when compared to the +1.8% market consensus and +2.6% previous, Statistisches Bundesamt Deutschland reported on Friday. Gross domestic product growth came in at 1.9 percent in all of 2022, compared with expectations of 1.8 percent growth …

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  • 13 January 2023 1:32 pm

    European stocks rose with the support of healthcare companies and headed for a second weekly gain

    European stocks rose on Friday, approaching their highest levels in nine months, supported by the rise in health care stocks and the unexpected growth of the British economy in November, as investors awaited the results of the operations of major US banks. The European STOXX 600 index rose 0.2% by …

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  • 13 January 2023 1:30 pm

    Possibilities of a recession in the British economy declined, supported by unexpected growth in November

    BoE

    Britain’s economy caught unexpectedly slight growth in November, after receiving a boost during the soccer World Cup from cafe and pub activity and video game sales, reducing the chances of it already falling into recession despite generally bleaker outlooks for 2023. Data from the Office for National Statistics on Friday …

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  • 13 January 2023 12:05 pm

    Japan’s Nikkei falls by more than 1%

    The Japanese Nikkei index fell more than 1 percent on Friday, to record its first loss in the last six sessions, and caused more than two-thirds of the decline in Fast Retailing, owner of Uniqlo. Japanese stocks are also under pressure from the yen’s rise to a seven-month high, as …

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  • 13 January 2023 11:28 am

    Britain’s economy grew by 0.2% in November on an annual basis

    Britain’s economy grew in November on an annual basis by 0.2%, compared to an expected growth of 0.3%. On a monthly basis, real GDP grew by 0.1% in November 2022, after it recorded a growth of 0.5% in October 2022. The services sector grew by 0.2% in November 2022, after …

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  • 13 January 2023 11:21 am

    Oil rose more than 1% on US inflation data and optimism about demand

    Oil prices rose more than 1 percent on Thursday, extending gains after data showed consumer prices in the United States fell unexpectedly in December, supported by optimism about the demand outlook in China. The US Consumer Price Index fell 0.1%, indicating that inflation is now on a continuing downward trend. …

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  • 13 January 2023 11:19 am

    China’s exports and imports decline sharply in December, but its oil imports rise

    China’s exports contracted sharply in December as global demand slowed, while imports also fell again as rising coronavirus infections and a sharply slumped real estate sector hit domestic demand, highlighting risks to the Asian giant’s economic recovery this year. Exports were one of the few bright spots in the world’s …

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