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Market Analysis

October, 2022

  • 21 October 2022 7:57 pm

    Gold rises on FOMC decision expectations

    Gold price advances almost 1% as the market speculations accelerated on FOMC’s intention. A WSJ article noted that FOMC members could be split about December’s rate hike, as November increase to the Fed funds rate (FFR) 75 bps, is certain. The precious metal is trading at $1651.36 per ounce at …

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  • 21 October 2022 7:03 pm

    AUD/USD rebounds on weaker US dollar

    The AUD/USD pair turned positive for the day after rebounding more than a hundred pips from four-day lows. The pair rose from near 0.6200 to 0.6333, hitting a fresh daily high on the back of a weaker dollar.The US dollar pulled back across the board following a report mentioning a …

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  • 21 October 2022 5:21 pm

    German parliament approves 200 billion euros in funding to tackle energy crisis

    The German parliament on Friday approved the government’s 200 billion euro ($195 billion) rescue package to protect businesses and households from rising energy prices. Parliament also voted earlier to suspend the so-called “debt brake” in the country.

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  • 21 October 2022 4:35 pm

    Canada: Retail Sales rose 0.7% in August

    The data published by Statistics Canada revealed on Friday that Retail Sales grew by 0.7% on a monthly basis in August following June’s sharp contraction of 2.5%. This reading came in better than consensus estimates pointing to a modest rise of 0.4%. The USD/CAD pair, meanwhile, moves little following the …

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  • 21 October 2022 4:34 pm

    Renault sales rise in the third quarter, supported by higher prices

    Renault announced Friday, October 21, that its sales rose to 9.8 billion euros ($9.57 billion) in the third quarter, in line with analyst expectations, as price increases allowed the company to achieve revenue growth despite a decline in car sales from the previous year. The French automaker said overall revenue …

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  • 21 October 2022 4:30 pm

    Yuan slips near 14-year lows against the dollar

    The Chinese yuan fell during Friday’s trading, near its lowest level in 14 years against the dollar, bringing its losses this year to 12.3%. And according to Bloomberg, market watchers expect further yuan weakness after the Communist Party congress ends this weekend, with the central bank loosening its grip on …

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  • 21 October 2022 2:33 pm

    Oil prices fall as hopes of increasing Chinese demand fade

    Oil prices fell on Friday for a second week as investor concerns about the impact of sharp increases in interest rates on energy consumption dashed hopes related to rising Chinese demand and production cuts by the Organization of the Petroleum Exporting Countries and its allies. Patrick Harker, Federal Reserve Chairman …

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  • 21 October 2022 1:45 pm

    European stocks fall as inflation and slowdown fears dominate the markets

    European shares fell on Friday, amid fears that major central banks will stick to raising interest rates to curb prices, while investors assessed mixed earnings reports that did little to allay fears of an economic slowdown. A slew of inflation reports and data pointing to the strength of the US …

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  • 21 October 2022 12:11 pm

    The Nikkei index closes below the level of 27 thousand points, and chip stocks limit losses

    The Japanese Nikkei index ended Friday’s trading below the main 27 thousand points level, affected by declines recorded by Wall Street Thursday night, amid fears that the announcement of the Federal Reserve (the US central bank) of a sharp interest rate hike could cause a recession. But the losses were …

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  • 21 October 2022 10:52 am

    Oil stabilizes, affected by interest rate hike fears

    Oil prices approached stability on Friday, as optimism about a possible increase in energy demand in China dashed and markets weighed on fears of rising inflation. Brent crude futures fell 12 cents to trade at $92.26 a barrel by 0219 GMT. West Texas Intermediate crude futures fell four cents to …

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  • 21 October 2022 3:22 am

    Market Drivers – US Session 20/10/2022

    Soaring treasury yields managed to save the US dollar on Thursday. The American currency started the trading day with negative performance, but later was able to trim intraday losses and finished the day little changed against most major rival currencies.The yield on the 10-year US Treasury note picked at 4.23%, …

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  • 21 October 2022 2:39 am

    Gold struggles amid hawkish signals

    The gold price has moved back to flat position on the day to print around $1,629.25 after moving between the $1,622.54 low and the $1,628.93 high for most of the session, reversing two losing sessions as the US dollar eased. At the time of writing the precious metal is trading …

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  • 21 October 2022 1:19 am

    EUR/USD surges on stronger dollar

    The EUR/USD pair is trading at 0.9783 at the time of writing versus Wednesday’s 0.97815 level. The pair edged up into the close on Wall Street by 0.12% as the US dollar pauses the soaring US yield environment and despite markets pricing in the Federal Reserve’s terminal rate of around …

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