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Market Analysis

July, 2022

  • 29 July 2022 1:32 pm

    Eurozone Preliminary Inflation surges 8.9% YoY in July

    The annualized Eurozone Harmonised Index of Consumer Prices (HICP) accelerated by 8.9% in July vs. June’s 8.6%, the latest data published by Eurostat showed on Friday. The market consensus was for an 8.6% figure. The core figures rose to 4.0% YoY in July when compared to 3.8% expectations and 3.7% …

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  • 29 July 2022 1:14 pm

    Yen is heading for the largest weekly gain in 4 months against USD

    The Japanese yen rose on Friday, set for its biggest weekly gain in four months against the dollar on bets that US interest rates are nearing a peak after data on Thursday showed that the world’s largest economy unexpectedly contracted in the second quarter. Futures markets expect US interest rates …

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  • 29 July 2022 12:11 pm

    European shares set for best month since November 2020 thanks to strong earnings

    European Stocks

    European shares rose on Friday, set for their first monthly gain in four months as solid corporate earnings overshadowed global recession fears. Meanwhile, the focus now turned to eurozone inflation and gross domestic product data due later on Friday. The pan-European STOXX 600 index rose 0.7 percent by 0715 GMT, …

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  • 29 July 2022 11:28 am

    Gold is heading for its best week in 5 months with weak dollar

    Gold prices rose on Friday as the dollar and bond yields continued to decline in the wake of US economic data, setting the yellow metal on course for its best week in nearly five months. By 0616 GMT, gold in spot transactions increased 0.6 percent to $ 1766.08 an ounce. …

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  • 29 July 2022 10:58 am

    Oil stabilizes with tight supplies, eyes turn to OPEC+ meeting

    Oil prices settled at a high level in Asian trade on Friday, July 29, supported by supply concerns and with the focus shifting to the next meeting of the OPEC + bloc, though recession fears limited the gains. West Texas Intermediate crude futures for September delivery rose 38 cents, or …

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  • 29 July 2022 4:05 am

    Market Drivers – US Session – Thursday, July 28

    Financial markets witnessed another volatile trading session on Thursday. Most markets were literally struggling for obvious direction. The US dollar was under pressure during Asian trading hours, resurged during the European session and was put again under pressure in the American afternoon.Safe-haven assets were the best performers against the US …

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  • 29 July 2022 2:48 am

    WTI’s recovery still elusive below $98.00

    WTI crude oil prices pare recent losses around $96.50 during Friday’s Asian session. Oil once again attempted to penetrate a three-week-long symmetrical triangle after the previous day’s failed attempt.WTI buyers need a daily closing beyond the $98.00 comprising the stated triangle’s upper line and the 21-DMA, to keep reins. Following …

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  • 29 July 2022 1:04 am

    Yellen: US economy was transitioning to ‘steady, sustainable’ growth

    Treasury Secretary Janet L. Yellen pointed out the robust labour market, high business and consumer spending and strong industrial output as signs of the economy’s health. US President Biden and Treasury Secretary Janet L. Yellen on Thursday dismissed questions about whether the US economy was already in a recession, pointing …

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  • 29 July 2022 12:34 am

    Yen, Swiss franc draw safe-haven flows on US recession news

    Volatility erupted in the forex market after the US officially entered a technical recession in the second quarter of 2022 and Europe’s energy crisis keeps inflation sticky high. This development followed the Fed’s second consecutive 75-basis-point interest rate hike, for the first time since early 1980s.Today, currency flows shifted to …

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  • 28 July 2022 11:44 pm

    EUR/USD falls despite negative US data

    The EUR/USD pair falls due to weaker than expected EU economic data, facing strong headwinds with the energy crisis, and slower economic growth. The US GDP in the second quarter showed signs of contraction, meaning the US is in a “technical recession”.Inflation in Germany tops around 8.6% YoY, while the …

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  • 28 July 2022 11:27 pm

    Fed expected to take rate to 3.50% by the end of 2022

    The latest FOMC meeting raised the key interest rate by 75 basis points, as expected. Analysts stick with our forecast that the Fed will take the fed funds rate to a 3.25-3.50% by the end of this year, shifting to a 50 bps hike in September, followed by two consecutive …

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  • 28 July 2022 10:39 pm

    Declining Ad spending hits social media firms, but not equally

    The one thing Google, Snapchat, TikTok and Facebook all have in common is their business model that rely a lot on selling advertisements. This is why they of course share something else: a problem. Google is expected to comprise 30% of total worldwide digital ad revenues this year. Snapchat and …

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  • 28 July 2022 10:02 pm

    Bitcoin Refreshes Above $23,400

    On Thursday, Bitcoin price analysis implies a consolidation following the previous day’s impressive gains. The price opened lower and traveled to touch the intraday high of $23,455, which acted as a strong resistance for the price as it coincided with the critical 50-day moving average.The BTC/USD pair is exchanging hands …

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