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Market Analysis

November, 2022

  • 12 November 2022 3:23 am

    Market Drivers – US Session 11/11/2022

    Global stocks rallied on Friday for a second day on hopes cooler US inflation would lead to less aggressive interest rate hikes by the Federal Reserve, an outlook that pushed the dollar to its biggest two-day drop in 13 years.Economic DataMSCI’s all-country world index rose 1.91%, lifting it to its …

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  • 12 November 2022 3:08 am

    Wall Street benefits from softer US dollar

    On Wall Street, US stocks surged, Friday, to add to the prior US session’s biggest daily percentage gains for the S&P 500 and Nasdaq in more than 2-1/2 years after year-over-year inflation in October fell below 8% for the first time in eight months.The S&P 500 closed out its best …

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  • 12 November 2022 2:35 am

    What is next after gold’s best week in more than 2 years?

    The price action of gold, next week, will look for direction mostly from the US dollar which attains a special standing as the key driver for gold’s ability to continue to this week’s rally.Gold is quickly becoming the asset to watch amid hot inflation as well as when inflation starts …

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  • 12 November 2022 1:25 am

    Yellen urges markets to read CPI data with caution

    US Treasury Secretary Janet Yellen said she is not reading too much into October’s inflation report, which showed price pressures narrowing faster than expected and sent markets soaring.While the consumer price index report, which showed annual inflation slowed to 7.7%, was good news, it might not mean that inflation is …

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  • 12 November 2022 12:30 am

    Treasury’s Yellen to meet China central bank Chair at G20 summit

    US Treasury Secretary Janet Yellen said on Friday that she will meet China’s central bank governor Yi Gang on the sidelines of the G20 Summit in Bali to discuss global economic conditions and China’s property market situation. The expected meeting will coincide with President Joe Biden’s planned Monday meeting with …

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  • 11 November 2022 11:31 pm

    Bitcoin abandons prior recovery on FTX’s bad news

    News about FTX, Alameda Research and affiliated companies filing for bankruptcy, is putting additional pressure on crypto assets. Bitcoin is trading at $16700 at the time of writing, down -$843 or 4.75% versus the previous closing price at $17551on a bullish spark ignited early Friday. The cryptocurrency market will likely …

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  • 11 November 2022 10:23 pm

    WTI still positive, despite retreating from $90.00 highs

    WTI is trimming some of its weekly losses and seems boosted by a weaker US dollar. At the time of writing, WTI crude is trading at $88.26 per barrel as easing inflation in the United States destabilized the dollar as traders look forward to less aggressive Fed’s stance. China’s refineries …

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  • 11 November 2022 9:34 pm

    GBP/USD rallies to multi-month highs

    The sterling extended its gains towards 1.1790s after a soft US inflation report. The US Dollar sharplyfalls during the US session, as the US Dollar Index edged down 1.20%, below the 107.000 mark.The Consumer sentiment reading in the United States worsened as inflation expectations rose. The Pound Sterling keeps rising …

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  • 11 November 2022 8:37 pm

    BoE’s Haskel: policy should stand firm against inflation

    Bank of England policymaker Jonathan Haskel said on Friday that it is important for the monetary policy to stand firm against the risk of persistent inflationary pressure, as reported by Reuters.GBPUSD showed no immediate reaction to these comments and was last seen rising 0.6% on the day at 1.1780.Key Quotes“Concern …

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  • 11 November 2022 7:48 pm

    UoM Consumer Confidence Index drops in early November

    Consumer confidence in the US deteriorated in early November. US Dollar Index stays deep in negative territory below 107.00. Consumer sentiment in the US weakened in early November with the University of Michigan’s (UoM) Consumer Confidence Index falling to 54.7 (flash) from 59.9 in October. This reading came in below …

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  • 11 November 2022 4:50 pm

    Gold heads for its best week in more than two years

    Gold prices are headed for their biggest gain in more than two years after extending their gains on Friday, as signs of slowing inflation boosted hopes that the Federal Reserve may shift to easing monetary policy. Spot gold rose 0.1% to $1,756.54 an ounce by 1127 GMT, after rising more …

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  • 11 November 2022 3:43 pm

    Britain’s economy shrinks 0.2% in Q3

    Official data showed the British economy contracted 0.2% in the three months to September, which is expected to be the start of a prolonged recession. Experts polled by Reuters had forecast a larger contraction of 0.5 percent of the gross domestic product in the third quarter. The Bank of England …

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  • 11 November 2022 2:56 pm

    Dollar is heading for the biggest losses since 2015

    Investors are dumping the dollar as weaker-than-expected US consumer price data boosted hopes the Federal Reserve will ease monetary policy tightening in smaller-than-expected increases in its fight against inflation. The range of the dollar’s movements against several currencies on Thursday was significant. By 1730 GMT, the US currency was down …

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