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Market Analysis

December, 2022

  • 1 December 2022 12:42 pm

    Dollar fell to its lowest level in 3 months against yen

    The dollar fell to a three-month low against the yen on Thursday, as investors focused on Federal Reserve Chairman Jerome Powell’s remarks about the possibility of slowing the pace of interest rate hikes “as early as December.” Powell said on Wednesday that slowing the pace at this point is a …

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  • 1 December 2022 10:58 am

    Oil rises due to lack of supply and optimism about the recovery of demand from China

    Oil prices rose in early Asian trade on Thursday, supported by signs of tight supply and optimism about a recovery in demand from China. And by 0115 GMT, Brent crude futures prices rose five cents to $87.02 a barrel. West Texas Intermediate crude futures rose 16 cents, or 0.2 percent, …

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  • 1 December 2022 10:38 am

    Gold is at its highest level in two weeks

    Gold prices jumped to a two-week high in early Asian trade on Thursday after Federal Reserve Chairman Jerome Powell’s speech boosted expectations of a lower US interest rate hike. By 0039 GMT, spot gold rose 0.4 percent to $1,775.77 an ounce, after touching its highest level since November 16. US …

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  • 1 December 2022 3:00 am

    Market Drivers – US Session 30/11/2022

    Overall, market sentiment fluctuated between optimism and concerns, as the US Dollar started the trading day with negative performance. The American currency managed to recover by mid-way, and finally fell closing in the red territory against its major rival currencies.US Dollar’s slump resulted from US Federal Reserve Chair Jerome Powell’s …

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  • 1 December 2022 1:50 am

    EUR/GBP rebounds ahead of Germany’s Retail Sales

    The EUR/GBP pair is exhibiting mixed performance within a 40-pip range broadly ahead of German Retail Sales. A surprise decline in Eurozone inflation weakened hawkish ECB bets. The sentiment of UK households fell as food inflation soared to a 45-month high.On Wednesday, the headline Eurozone HICP was lower at 10.0% …

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  • 1 December 2022 12:18 am

    Gold eying $1,787 ahead of Fed’s favored inflation reading

    Gold price begins December on a firmer standing around $1,768, after posting the biggest monthly gains in 29 months during November. The precious metal’s latest run-up could be linked to the dovish messages by Fed Chair Jerome Powell, as well as optimism surrounding China. Gold buyers are expected to take …

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November, 2022

  • 30 November 2022 11:15 pm

    Wall Street advances on Powell’s dovish signals

    Wall Street is rejoicing on the latest comments by Jerome Powell. The S&P 500 has gained the first day in four following significantly dovish comments by Fed’s Jerome Powell confirming that the US Fed will slow the pace of its hawkish rate-hiking that impacted financial and exchange markets.The broad index …

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  • 30 November 2022 10:49 pm

    Powell’s Speech Drags US Dollar Lower

    In his first public appearance and remarks on the US economy since the post-FOMC policy decision press conference on November 2, where he warned of a higher terminal rate, Fed chair Jerome Powell said on Wednesday that it would “make sense to moderate pace of interest rate hikes”.Since the November …

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  • 30 November 2022 10:19 pm

    European markets close higher on Eurozone inflation data

    European markets closed higher on Wednesday as November has proved to be a month with robust performance while regional investors reacted to the latest inflation data from the Eurozone for the month.Stoxx 600 closed up 0.6%, adding monthly gains of around 6.1%. Household goods added 2.3% to represent the leading …

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  • 30 November 2022 10:09 pm

    Fed’s Cook: Time nearing to hike rates in smaller steps

    Fed’s Lisa Cook, who before said the US central bank is focused on addressing inflation that is “much too high”, reiterated on Wednesday that inflation is still too high.Cook noted that it could soon be “time for the US central bank to take its foot off the gas when it …

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  • 30 November 2022 9:23 pm

    US Dollar slides on disappointing jobs data ahead of Powell’s speech

    The US dollar is sliding lower following jobs data in November that missed expectations before a highly awaited speech by Fed Chair Jerome Powell. The dollar index added to earlier losses after the ADP National Employment reading indicating that US private payrolls increased far less than expected in November, suggesting …

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  • 30 November 2022 8:27 pm

    Dow falls 200 points as investors await Powell speech

    The Dow Jones Industrial Average fell on Wednesday as Wall Street is walking through ponds of economic data and investors await this afternoon speech on the US economy by Fed Chair Jerome Powell. Powell will give his speech before Brookings Institute.The Bureau of Economic Analysis reported that GDP increased at …

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  • 30 November 2022 7:32 pm

    US JOLTS reading declines to 10.3 million in October

    US JOLTS Job Openings discreetly retreated in October. The number of job openings fell to 10.3 million on the last business day of October versus the previous reading of 10.7 million in September according to the US Bureau of Labour Statistics in its Job Openings and Labour Turnover Summary (JOLTS) …

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