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Market Analysis

November, 2022

  • 30 November 2022 2:36 pm

    Eurozone Preliminary Inflation softens to 10.0% YoY in November

    The annualized Eurozone Harmonised Index of Consumer Prices (HICP) eased sharply to 10.0% in November vs. October’s 10.6%, the latest data published by Eurostat showed on Monday. The market forecast was for a 10.4% print. The core figures steadied at 5.0% YoY in November when compared to 5.0% expectations and …

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  • 30 November 2022 1:54 pm

    Dollar is heading for the largest monthly loss since 2010

    The dollar fell from its highest level in a week on Wednesday ahead of a speech by Federal Reserve Chairman Jerome Powell on Wednesday, while optimism about easing strict Covid restrictions in China put it on track for its biggest monthly loss in more than a decade. The euro did …

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  • 30 November 2022 1:52 pm

    The Turkish economy grew 3.9% in Q3

    Official data showed on Wednesday that the Turkish economy expanded by 3.9 percent in the third quarter on an annual basis, a rate slightly lower than expected and slower than it achieved earlier in the year, as domestic and external demand were affected by high inflation and the global slowdown. …

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  • 30 November 2022 1:51 pm

    Oil rises amid hopes of easing Covid restrictions in China

    Oil prices rose on Tuesday, amid expectations that China will ease strict restrictions related to Covid-19, but fears that the OPEC + group will keep its production unchanged at its next meeting limited the gains. Brent crude futures settled at $83.03 a barrel, down 16 cents, or 0.2 percent, while …

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  • 30 November 2022 12:32 pm

    The Nikkei index is falling for the fourth session

    Japan’s Nikkei fell for the fourth consecutive session on Wednesday as data on weak factory production added to fears of a global economic slowdown, while investors await Federal Reserve Chairman Jerome Powell’s speech for clues about US monetary policies. The Nikkei index ended Wednesday’s trading down 0.21 percent at 27,968.99 …

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  • 30 November 2022 6:41 am

    Market Drivers – US Session 29/11/2022

    Generally speaking; risk assets experienced a big deal of uncertainty as the end of November approaches ahead of Fed Chairman Powell’s address on the economy on Wednesday at Brookings Institute. US Nonfarm Payrolls data is looming on Friday. Risk appetite has deteriorated since Monday after Chinese protests police clashes against …

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  • 30 November 2022 1:54 am

    Why do NZD, CHF await Powell, ADP Employment Data?

    The NZD/USD pair hovers around 0.6200 as investors await US ADP Employment. The pair also encounters an obstacle around the present rate 0.6200 as anxiety rises ahead of Fed Powell’s remarks on Wednesday. Fed’s interest rate hikes account for weaker projections for US employment data.On a different front, the reopening …

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  • 30 November 2022 12:42 am

    Bitcoin Pressured On Bad News Across Crypto Industry

    Bitcoin and other cryptocurrencies are edging higher on Tuesday but the digital asset space continues to face pressure on multiple fronts, including contagion from the bankruptcy of exchange FTX and the increasing difficulty of crypto mining.The price of Bitcoin surged by 1% over the past 24 hours to just shy …

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  • 29 November 2022 11:59 pm

    US Stocks retreat as China Covid concerns ease

    US stocks slid on Tuesday as Wall Street continued a slow start to the week, with investors continuing to monitor the latest developments related to the sudden surge of protests in China over the government’s “zero COVID” stance.The S&P 500 was down 0.4% in midday trading, while the Dow Jones …

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  • 29 November 2022 10:58 pm

    EUR/USD’s struggles ahead of Powell’s speech

    The EUR/USD pair has flattened again as the US session heads into the late afternoon. The pair fell from the 1.0394 high to the 1.0325 low on the day so far and steadies near 1.0340 at the time of writing. Growth stocks on Wall Street experience extended declines, overshadowing a …

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  • 29 November 2022 9:39 pm

    Oil’s gains on China COVID hopes impacted by OPEC+ output concerns

    Oil prices surged on Tuesday on expectations that China’s strict COVID-19 controls could be eased, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited the trading day’s gains.Brent crude futures settled at $84.84 per barrel versus the previous closing price $83.21. WTI crude oil futures …

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  • 29 November 2022 8:43 pm

    Deutsche Bank Expects Germany’s core inflation dynamics to remain strong for now

    Preliminary data released on Tuesday indicated that a larger-than-expected decline in annual inflation in Germany to 10%. According to Sebastian Becker, Senior Economist at Deutsche Bank, the downward surprise is largely explained by the unexpected energy price drop. He warns that core inflation dynamics might remain strong for now.Key Quotes: …

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  • 29 November 2022 7:47 pm

    Bailey: no monetary reason forces BoE to enact reserves shake-up

    The BoE’s governor, Andrew Bailey said on Tuesday there was no monetary policy reason to reduce or restructure the way the UK central bank pays interest on its reserves held by commercial banks.“In my view, there is not a monetary reason, a monetary policy reason that is, for varying that. …

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