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Market Analysis

October, 2022

  • 25 October 2022 12:23 am

    GBP/USD retreats after Sunak effect relinquishment

    The British pound retreats below 1.1300 after failure at the 1.1400 area. Traders and investors have broadly welcomed Rishi Sunak’s victory and markets hope to steady under his upcoming government.The GBP/USD pair trades at 1.1278 at the time of writing. The asset aims at 1.11/1.12 if 1.1400. The sterling is …

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  • 25 October 2022 12:10 am

    USD/CHF consolidates after rebounding from 1.0145

    The US dollar has restored the 112.014 level after it had declined from 1.0145 to find support at 0.9965. The dollar is also consolidating in the calm US market session.The US dollar has been trading sideways against the Swiss Franc on Monday. The pair has remained moving roughly between 0.6965 …

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  • 24 October 2022 11:08 pm

    Gold futures lower after Friday’s wild surge

    Gold prices finished Monday with a shy loss, following a wild soaring in the final session of last week that saw prices for the precious metal briefly dip to fresh lows. Gold was not stable to begin the week, as the bears have been able to pull the rope to …

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  • 24 October 2022 10:34 pm

    WTI bounces up despite risk off mood

    Oil prices are trimming their losses after bouncing up from the $82.55 level. There are concerns about the Chinese zero-COVID policy. Such concerns do hurt crude oil.The lower US oil reserves have avoided a further decline in prices. WTI futures have picked up following the negative market opening on Monday. …

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  • 24 October 2022 9:42 pm

    Who is Rishi Sunak, UK new prime minister?

    Who is Rishi Sunak? What does it mean that he became UK new prime minister? Rishi Sunak is now the new leader of the UK’s Conservative Party, the Torys. He is Britain’s next prime minister after both the leading candidates considered his rivals in the race to replace Liz Truss …

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  • 24 October 2022 8:17 pm

    USD/CAD surges despite poor US data

    The USD/CAD pair trims some of last Friday’s losses, so it is up by 0.46% on Monday. Worse-than-expected US economic data and a risk-off mood in are among factors that significantly boosted the US Dollar.The USD/CAD marches firmly amid a risk aversion due to S&P Global PMIs hinting that global …

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  • 24 October 2022 7:04 pm

    US Dollar Ignores Suspected Japan’s intervention

    The dollar rallied on Monday, and seems to ignore the suspected Japanese intervention. The American currency, instead, is sending China’s offshore yuan to record lows, while the British pound hesitated as Britain’s Conservative party raced to choose its third leader this year, eventually Rishi Sunak won both leadership of the …

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  • 24 October 2022 5:28 pm

    UK: Rishi Sunak to become next UK PM after winning leaderchip contest

    Sir Graham Brady, chair of the 1922 Committee, announced on Monday that Rishi Sunak is elected as leader of the Conservative Party and new prime minister following Penny Mordaunt’s decision to drop out of the contest. Sunak will reportedly deliver a private speech to Tory MPs at 1430 GMT.

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  • 24 October 2022 4:13 pm

    Gold prices are falling with the rise of USD

    Gold prices fell on Monday (October 24th) as the dollar rose as investors sought to clarify whether the US Federal Reserve would ease monetary policy. And the price of gold in spot transactions fell 0.4% to $ 1650.77 an ounce by 0754 GMT, while US gold futures fell 0.1% to …

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  • 24 October 2022 2:19 pm

    Oil prices fall after data on weak Chinese demand

    Oil prices fell 2 percent on Monday after Chinese data showed that demand from the world’s largest importer of crude remained weak in September, as strict anti-Covid-19 policies and restrictions on fuel exports reduced consumption. Brent crude futures fell $1.67, or 1.8 percent, to $91.83 a barrel by 0855 GMT, …

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  • 24 October 2022 1:39 pm

    European shares jump, supported by hopes of a slowdown in the Federal Reserve’s rate hike

    European shares jumped on Monday, boosted by hopes the Federal Reserve will slow the pace of interest rate hikes, as investors braced for a busy week that includes an important European Central Bank interest rate decision. The pan-European STOXX 600 index rose 1.3 percent by 0708 GMT, with the travel, …

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  • 24 October 2022 12:29 pm

    Nikkei closed below 27 thousand points amid concerns over China

    Japan’s Nikkei gave up most of the morning’s gains during the overnight session, to close below the 27,000-point level on Monday, as investors worried about the outlook for the Chinese economy. The index ended trading up 0.31 percent at 26,974.90 points. Out of 225 stocks on the index, 133 rose …

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  • 23 October 2022 10:08 pm

    Markets’ Weekly Recap, October 17-21

    Japan’s government and central bank intervened in the currency market early Saturday to support the retreating yen, triggering a dramatic rebound against the dollar after the Japanese currency had reached a fresh 32-year low of nearly 152 against the dollar.Finance Ministry Vice Minister Masato Kanda told reporters he would not …

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