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Market Analysis

September, 2022

  • 29 September 2022 2:46 am

    Biden warns of raising fuel price on Hurricane Ian

    “America’s watching. The industry should do the right thing”, US President Joe Biden said, on Wednesday, stressing that the federal government will investigate price gouging if fuel prices rise during the hurricane.Biden said only 190,000 barrels of oil have been impacted so far by Hurricane Ian. Biden also warned oil …

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  • 29 September 2022 2:10 am

    AUD/USD extends recovery on softer US dollar

    The AUD/USD pair is advancing amid positive market sentiment. The Dollar Index has plummeted below 113.00 despite hawkish commentary from the Fed policymaker. The AUD/USD pair is witnessing a mark-up inventory accumulation phase after displaying a juggernaut rally to near 0.6530. The pair is expected to extend its recovery and …

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  • 29 September 2022 1:41 am

    Why has US dollar been slammed during US session?

    US treasury yield fell, on Wednesday, after climbing to the highest since January 2008. The yield on the US 10-year note was last seen down 24.2 basis points to 3.705%, after earlier touching 4.01%, the first rise above 4% in nearly 15 years while money markets girded for higher interest …

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  • 29 September 2022 12:33 am

    Netflix stock surges on latest upgrade

    Netflix shares flourished on Wednesday after Atlantic Equities upgraded the stock from Neutral to Overweight, citing upside potential of ad-supported tier. Advertising estimates are seen as able to boost revenue by $6.7 billion over the next three years and that the average revenue.Analysts from Citigroup raised their price targets on …

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  • 29 September 2022 12:08 am

    Gold reaches best level in almost a week

    Gold prices soared on Wednesday, bolstered by a deep cutback in global bond yields and a weaker US dollar. In the afternoon trade, the Gold Index was up about 2% to $1,670, its best level since last Thursday. Gold is trading at 1659.38 at the time of writing, so it …

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  • 28 September 2022 11:17 pm

    EU to cap Russian oil price, accelerate sanctions

    The European Commission president, Ursula von der Leyen has promised to cap the price of Russian oil and impose further curbs on hi-tech trade, as part of the latest round of sanctions to “make the Kremlin pay” for the escalation of the war against Ukraine.Ursula von der Leyen said Russia …

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  • 28 September 2022 11:00 pm

    EUR/GBP stabilizes after BoE’s decision

    Bank of England intervened by buying government bonds so as to stabilize the bond market. This move was able to strengthen the Pound whose performance improved on the BoE’s announcement.The EUR/GBP pair is hovering around 0.8940 practically flat for the day after moments of extreme volatility following the surprise announcement …

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  • 28 September 2022 9:32 pm

    EUR/USD sharply climbs on weaker US dollar

    The EUR/USD pair bounces from two-decade lows recorded during the European session, gaining 1.34% in the day, boosted by improved in market sentiment and a weaker US dollar, despite the Fed’s hawkish stance, opening the door for aggressive tightening by the end of the year.The Euro began trading nearby the …

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  • 28 September 2022 9:15 pm

    IMF criticizes UK tax cuts, urges reconsideration

    The International Monetary Fund has joined a wide range of institutions worldwide criticizing the UK’s huge tax cuts in a plan that has exerted mega pressure on the pound which was plunging to a record low.With this rare criticism of the UK’s large developed economy, the International Monetary Fund is …

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  • 28 September 2022 8:23 pm

    US stocks rise as US, UK yields fall after BoE intervention

    On Wednesday, US stock indexes turned higher and rebounded, largely helped by sliding Treasury yields from multiyear highs, and a surprise intervention from the Bank of England in the UK gilt, or government-issued bonds market, but Wall Street stocks were still in danger of recording a seven-day losing streak.On Tuesday, …

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  • 28 September 2022 7:29 pm

    UK’s Kwarteng won’t resign, no reversal in policy

    It was reported on Wednesday that British Finance Minister Kwai Kwarteng will not resign over the market reaction to the fiscal plan and added that there will no reversal of policy.Meanwhile, the Bank of England announced the gilt market intervention amid growing fears overs insolvencies of pension funds by as …

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  • 28 September 2022 6:09 pm

    Market Drivers – European Session 28/9/2022

    The rise of the dollar against sterling was also affected by British domestic factors, after the British government announced last week a plan to cut taxes and increase borrowing. This decreased sterling to $1.0327 on Monday, a record low, after settling near the $1.1300 level ahead of the UK’s budget …

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  • 28 September 2022 5:43 pm

    Gold loses its luster and hits its lowest level in 30 months

    On Wednesday, gold prices hit a new low, the lowest in 30 months, as the allure of the precious metal was undermined amid the rise in the dollar and US Treasury yields due to expectations of a sharper rate hike by the Federal Reserve. By 0854 GMT, spot gold fell …

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