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Market Analysis

November, 2022

  • 23 November 2022 3:37 am

    Market Drivers – US Session 22/11/2022

    The US dollar plummeted on Tuesday amid the better performance of global equities which closed in the green territory on the back of positive risk appetite Wall Street posted considerable gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with …

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  • 23 November 2022 2:19 am

    Gold benefits from positive risk appetite, softer US dollar

    Gold Price registers gains of 0.03%, and the precious metal is now trading around $1738 as Fed policymakers begin to price a 50 bps rate hike and the US central bank needs to tighten monetary conditions.The US Dollar edges lower on Tuesday as the American currency is weighed by falling …

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  • 23 November 2022 1:08 am

    EUR/USD Goes Defensive As FOMC Minutes Awaited

    An improvement in the market’s sentiment despite the looming Covid woes from China and mixed concerns surrounding the US-China relations help the pair to register the first daily gain in four on Tuesday. EUR/USD buyers are relaxing ahead of Wednesday that is literally eventful. The EUR/USD pair has steadied around …

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  • 23 November 2022 12:11 am

    US T-Yields Drop As Investors Await FOMC Minutes

    Global equities surged on Tuesday while US Treasury yields dropped ahead of the awaited release of the Federal Reserve’s meeting minutes for November. Investors are looking forward to clues on the upcoming US interest rate hiking. On the other hand, China’s COVID restrictions weighed on the overall market sentiment.Benchmark 10-year …

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  • 22 November 2022 11:18 pm

    Hunt, BoE Governor to cut maximum size of APF

    In exchanged letters between the BoE governor and the UK finance minister regarding asset purchase programme, there was a mention of the official intention to looming cutting of the maximum size of the Asset Purchasing Facility, APF.The maximum size of the APF authorized has been cut to GBP871 bln, of …

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  • 22 November 2022 10:00 pm

    GBP/USD steadily surges on softer US Dollar

    The British Pound extended its gains amid prevalent positive risk appetite on Tuesday. The Pound Sterling climbed in the US session, though Fed’s hawkish commentary continued and policymakers expressed the likelihood of moderating the tightening cycle pace. China’s Covid-19 outbreak constitutes another factor triggering investors’ fears, though some fears weakened …

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  • 22 November 2022 9:11 pm

    Data-wise Canada’s consumer spending still robust

    Tuesday’s data showed the declining retail sales in Canada in September by 0.5%. The biggest decline comes from gasoline and is linked to lower prices during the month in question , making sales a little better in volume terms with a 0.1% decline.The advance estimate for October shows a healthy …

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  • 22 November 2022 8:33 pm

    USD Index to further decline under 105

    The US Dollar Index (DXY) has experienced a quick decline toward the 200-Day Moving Average at 105/104.60 which is also the low previously recorded last August. A break below the current level would open up next potential supports at 103 and 101.90/30 according to analysts.Daily MACD is within deep negative …

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  • 22 November 2022 7:27 pm

    US Stocks higher amid attempts to rid of Covid shadows

    US Stocks rose Tuesday morning as Wall Street attempts to get rid of covid-linked fears as China’s policies tend to further restrictions. Earnings reports also attract significant attention of traders and investors.The Dow Jones surged 282 points, or 0.84%. The S&P 500 progressed 0.56% on the back of the performance …

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  • 22 November 2022 6:05 pm

    All eyes on the RBNZ

    On November 1 New Zealand house prices showed the first sign of strain, with their first annual fall in more than 11 years. Prices fell 0.6% from the previous year, and values fell for a 7th consecutive month. This is due to the affordability challenge for buyers either getting new …

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  • 22 November 2022 5:16 pm

    Canada: Retail Sales decline by 0.5% in September

    Retail Sales in Canada declined by 0.5% on a monthly basis in September, the data published by Statistics Canada revealed on Tuesday. This reading followed August’s increase of 0.4% and came in slightly better than the market expectation for a decrease of 0.7%. Further details of the publication revealed that …

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  • 22 November 2022 4:55 pm

    Consumer confidence in Turkey rose for the fifth month to 76.6 in November

    Official data showed on Tuesday that Turkey’s consumer confidence index rose 0.6 percent to 76.6 points in November, continuing its recovery from a record low of 63.4 in June, despite continued high inflation. The biggest improvement was in confidence in the expectations of the general economic situation during the next …

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  • 22 November 2022 4:18 pm

    Stability of dollar with the tightening of Covid restrictions in China

    The price of the dollar stabilized on Tuesday after rising the previous day, as investors flock to the safe-haven currency in light of fears of an increase in Corona infections in China, while the Bitcoin currency is under pressure after fears related to the repercussions of the collapse of the …

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