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Market Analysis

November, 2022

  • 24 November 2022 2:48 am

    Gold surges on Fed’s pivot signals by FOMC minutes

    Gold prices extended gains on Wednesday as the FOMC minutes for November policy meeting showed a “substantial majority” of members opting to slow down rate hikes. Spot gold rose 0.6% to $1,750.38 per ounce, while US gold futures settled 0.6% higher at $1,750.90.Gold traded higher in a relief rally after …

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  • 24 November 2022 2:28 am

    Market Drivers – US Session 23/11/2022

    The US dollar fell further as an immediate reaction to the FOMC minutes. On the other hand, all US indexes picked up an upward pace. Chances of a 50 bps hike rose to 79% following the release time. The dollar retreated on Wednesday under selling pressure and finished the day …

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  • 24 November 2022 1:19 am

    Stocks surge after pivot signals by FOMC minutes

    U.S. stocks rose Wednesday as meeting minutes from the Federal Reserve showed that the Fed is looking to hand out smaller rate hikes in the coming months as inflation eases.The Dow Jones Industrial Average rose 95 points, or 0.28%. The S&P 500 gained 0.51% and the Nasdaq Composite increased 0.95%.Minutes …

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  • 23 November 2022 11:43 pm

    EUR/USD surges on FOMC minutes

    The Euro benefited from Wednesday’s FOMC minutes as the US Dollar weakened on the release of the November meeting’s minutes.The minutes have indicated that Fed policymakers agreed to slow the rate hikes, this news is weakening the US Dollar, so the Euro jumped against the US Dollar. At the time …

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  • 23 November 2022 11:17 pm

    FOMC Minutes: Most Policymakers Supported Slowing Rate Hiking Pace Soon

    There is a prevalent state of volatility across financial assets in all markets following the release of FOMC meeting minutes that has showed a substantial majority of the board see slowing hikes soon.According to the minutes, the Fed says rate peak to be higher than previously expected. There are uncertain …

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  • 23 November 2022 11:04 pm

    NZD/USD rallies ahead of FOMC minutes

    NZD/USD rallied to a high of 0.6236 on Wednesday, from the 0.6123 low. The pair was getting closer to its strongest levels in nearly three months after the RBNZ decided a supersized 75 basis point rate hike to get ahead of inflation.The latest RBNZ’s rate hike has been the largest …

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  • 23 November 2022 10:22 pm

    FOMC Minutes to reveal how big support for higher peak rate could be

    The Federal Reserve is expected to show how united policymakers were at their meeting earlier in November over a higher peak for interest rates than previously signaled as they calibrate their fight against decades-high inflation.At the conclusion of the Nov. 1-2 meeting of the US central bank’s policy-setting Federal Open …

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  • 23 November 2022 9:26 pm

    US stocks slightly surge ahead of FOMC minutes

    US stocks were mixed on Wednesday, as investors looked ahead to FOMC minutes hoping for clues into the pace of future interest rate hikes.The Dow Jones Industrial Average fell 3 points, or 0.01%. The S&P 500 gained 0.23% and the Nasdaq Composite increased 0.51%. Shares of Nordstrom fell more than …

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  • 23 November 2022 8:34 pm

    Gold looks cautious ahead of FOMC minutes

    Gold prices are slightly lower while silver is a bit higher in subdued early US trading on Wednesday. The market looks quieter ahead of the US data point of the week, namely the FOMC minutes released at 2:00 p.m. EST. December gold was last down $2.80 at $1,737.20 and December …

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  • 23 November 2022 7:36 pm

    US New Home Sales Rise Above Estimates

    Sales of new single‐family houses, in the United States, rose by 7.5% in October to a seasonally adjusted annual rate of 632,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on Wednesday.Wednesday’s reading followed September’s contraction of 11% and came …

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  • 23 November 2022 5:19 pm

    Oil loses more than a dollar a barrel due to talks to determine the price of Russian oil

    Oil prices fell more than $1 a barrel on Wednesday as the Group of Seven nations discussed setting a price ceiling for Russian oil above its current trading level. Brent crude futures lost $2, or 2.26%, to $86.36 a barrel by 1153 GMT, while US West Texas Intermediate crude futures …

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  • 23 November 2022 4:04 pm

    Scholz Pledges to End Germany’s Over-Reliance on China, Russia

    Germany

    Chancellor Olaf Scholz doubled down on his government’s promise to end Germany’s “one-sided dependence” on Russia and China for energy and trade, part of a sweeping rethink of the nation’s commercial ties triggered by the war on Ukraine. “The price of sitting on our hands would be incomparably higher,” Scholz …

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  • 23 November 2022 3:02 pm

    Dollar is stable ahead of Fed

    The US dollar held steady on Wednesday ahead of the highly anticipated release of the Federal Reserve’s latest policy meeting, while the New Zealand dollar was boosted by a record interest rate hike to curb inflation. The US dollar index, which measures the dollar’s performance against six major currencies, settled …

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