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Market Analysis

August, 2022

  • 26 August 2022 1:39 am

    Revised US Q2 data weaken recession theory

    The second estimate of Q2 GDP showed the US economy contracted at a slower-than-expected rate of 0.6%. Upward revisions to underlying demand and a first read from the income side weakens the argument that the economy is currently in recession. The US economy contracted at a 0.6% annualized rate in …

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  • 26 August 2022 12:49 am

    T-yields retreat as markets cautiously Eying Jackson Hole

    US Treasury yields slid on Thursday after hitting multi-week highs the previous session, as investors balanced their positions amid uncertainty as to what Federal Reserve Chair Jerome Powell might say when he speaks on Friday at a global central bank conference in Jackson Hole.The bond market expects Powell to stick …

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  • 25 August 2022 11:45 pm

    Gold climbs as traders expect hawkish Powell speech

    Gold price advances almost 0.30% on Thursday, courtesy of an upbeat sentiment and overall buck’s weakness. Investors still digest mixed US economic data, released ahead of Powell’s speech.Fed officials expect a 50 or 75 bps rate hike at the next meeting; awaiting September’s data. Gold Price trades in the green …

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  • 25 August 2022 11:05 pm

    AUD/USD holds gains ahead of Powell’s speech

    The AUD/USD bulls are hanging following a significant strong move to the upside as China’s stimulus boosted risk sentiment and the proxy AUD.The Jackson Hole is now the main focus across financial markets. The AUD/USD pair is 1% higher on the day as the US dollar continues to find sellers …

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  • 25 August 2022 10:04 pm

    After Parity, How Low Could EUR/USD Go?

    The chances for a global recession drive the demand for safe-haven assets, and traditionally the US dollar is one of them. From a technical point of view, the US economy has already entered a recession due to posting two straight quarters of negative GDP growth. The EUR/USD pair has broken …

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  • 25 August 2022 9:39 pm

    Fed’s Bullard: Rates aren’t high enough now

    Federal Reserve’s president and CEO of the Federal Reserve Bank of St. Louis James Bullard: in a CNBC interview has said rates aren’t high enough now.Meanwhile, Fed funds futures traders are pricing in a 59% chance that the Fed will hike rates by another 75 basis points at its September …

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  • 25 August 2022 9:09 pm

    GBP/USD fluctuates post-mixed US data

    The GBP/USD fluctuates during the day as traders wait for Fed’s Powell to take the stand on the sidelines. US growth in the second quarter improved but remains below the 0% threshold; a US recession looms.Money market futures expect the BoE to hike rates 250 bps by May of 2023. …

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  • 25 August 2022 8:50 pm

    Wall Street climbs as Fed’s signals at Jackson Hole awaited

    The S&P 500 and the Nasdaq surged on Thursday on support from growth and semiconductor stocks, while investors eyed the Federal Reserve’s Jackson Hole conference for clues on its policy outlook. Fed Chair Jerome Powell is due to give a speech on Friday that will be scrutinized for any indication …

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  • 25 August 2022 8:13 pm

    Fed’s Harker supports rate above 3.4% and then ‘sit for a while’

    The Federal Reserve should continue raising it benchmark interest rate until it is over 3.4% and then “sit for a while,” said Philadelphia Fed President Patrick Harker on Thursday.“We don’t need to rush way up and then rush way down,” Harker said, in CNBC interview from the Fed’s retreat in …

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  • 25 August 2022 7:27 pm

    USD/CAD slides on softer US dollar ahead of Powell’s speech

    The USD/CAD pair dropped 0.15% on Thursday as market players prepare for further hawkish rhetoric by the Fed. The USD/CAD slides towards new weekly lows in the North American session amidst a positive market mood, spurred by China’s 1 trillion CNY stimulus, aimed to fix the housing and construction crisis. …

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  • 25 August 2022 4:53 pm

    Real GDP contracts by 0.6% in Q2

    The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) second estimate showed on Thursday. This reading came in higher than the flash estimate of -0.9% and surpassed the market expectation of -0.8%.

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  • 25 August 2022 4:45 pm

    Weekly Initial Jobless Claims decline to 243K

    There were 243,000 initial jobless claims in the week ending August 20, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 245,000 (revised from 252,000) and came in better than the market expectation of 253,000. Further details …

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  • 25 August 2022 2:47 pm

    European shares rise, supported by the energy sector

    European shares rose on Thursday after gross domestic product data from Germany, the continent’s largest economy, beat analysts’ expectations. At the same time, concerns ahead of the minutes of the European Central Bank’s latest meeting limited gains. The pan-European Stoxx 600 index was up 0.6 percent by 0712 GMT. Energy …

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