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Market Analysis

August, 2022

  • 4 August 2022 4:27 pm

    Bailey speech: Parts of UK economy are still going forward strongly

    Bank of England (BoE) Governor Andrew Bailey is delivering his remarks on the policy outlook and responding to questions from the press following the bank’s decision to hike the policy rate by 50 basis points to 1.75%. Quotes “We would have had to raise interest rates in double digits last …

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  • 4 August 2022 3:15 pm

    BOE hikes policy rate by 50 bps to 1.75% as expected

    Following its August policy meeting, the Bank of England announced that it raised the policy rate by 50 basis points to 1.75% as expected. The policy statement revealed that Monetary Policy Committee (MPC) member Silvana Tenreyro voted to hike the rate by 0.25 basis points.

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  • 4 August 2022 2:51 pm

    Oil prices increase after falling to the lowest level in nearly 6 months

    Oil prices held largely steady on Thursday as the market balanced tight supplies with demand concerns, after an increase in US crude and gasoline inventories pushed prices to multi-month lows in the previous session. By 0925 GMT, Brent crude futures rose 36 cents, or 0.37 percent, to $97.14 a barrel, …

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  • 4 August 2022 1:23 pm

    Fed officials’ statements supporting USD, Pound awaits a rate hike

    The dollar held onto recent gains against other major currencies on Thursday, as comments from Federal Reserve officials reinforced the US central bank’s determination to tackle the highest inflation rate in decades with massive interest rate hikes. Meanwhile, the Bank of England is widely expected to raise interest rates by …

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  • 4 August 2022 12:52 pm

    European shares rise, supported by strong earnings results

    European Stocks

    European shares rose on Thursday following strong results for several companies, while the focus is on the Bank of England, which is expected to raise interest rates by the most since 1995. The pan-European Stoxx 600 index rose 0.1 percent, following the path of Asian stocks, which rose 0.4 percent, …

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  • 4 August 2022 12:04 pm

    Gold rises as US Treasury yields fall

    Gold prices rose on Thursday, supported by lower US Treasury yields, as cautious investors awaited the US non-farm payrolls report due this week for more clues on the Federal Reserve’s stance on raising interest rates. By 0628 GMT, spot gold rose 0.3 percent to $1,769.74 an ounce. US futures also …

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  • 4 August 2022 11:16 am

    State media: Chinese military begins “strategic” exercises on Taiwan

    Taiwan, China

    The People’s Republic of China decided to impose trade sanctions against Taiwan – as it had done against Australia – and targeted the island’s industrial sector, which enjoys political independence despite being a part of China. The General Administration of Customs of China suddenly announced the suspension of imports of …

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  • 4 August 2022 3:03 am

    Market Drivers – US Session – Wednesday, August 3

    US indexes surged, capping the safe-haven dollar’s demand, partially helped by strong Q2 corporate earnings reports and encouraging local data.Commodity-linked currencies, on the other hand, benefited from Wall Street’s strength. AUD/USD trades around 0.6950 while USD/CAD is marginally lower at 1.2840.The EUR/USD pair trades around 1.0160, as tepid European data …

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  • 4 August 2022 2:41 am

    What is important about Michael Saylor’s bet on Bitcoin?

    Michael Saylor’s bet on Bitcoin has failed and he lost. The MicroStrategy CEO, also one of the biggest bitcoin bull, has decided to step down. When cryptocurrency lending platform Celsius froze user accounts amid a drop in valuations, waves across the industry raised questions about what could happen to user …

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  • 4 August 2022 1:20 am

    Fed’s Kashkari: 2023 rate cuts very unlikely

    Fed’s Neel Kashkari has said that the Fed moved too slowly in 2021 in tackling high inflation. He also added that US wages are climbing and there is a risk that this goes into a wage-driven inflation story and that the US central bank is laser-focused on getting inflation down.Kashkari …

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  • 3 August 2022 11:56 pm

    BoE to decide biggest rate hike in 27 years

    On Thursday, the Bank of England is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995. This move would take borrowing costs to 1.75% as the central bank encounters rising inflation and would be the first half-point hike since it was made independent …

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  • 3 August 2022 11:18 pm

    USD/CAD down amid higher risk appetite

    The USD/CAD pair is down on the day as risk appetite bounces on Wednesday. Meanwhile, Sino-US tensions are eyed by traders and investors who also focus on the hawkish comments by Fed speakers. Frictions after the highest-level US visit by Nancy Pelosi, to Taiwan in 25 years help support the …

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  • 3 August 2022 10:12 pm

    GBP/USD retreats on risk-on ahead of BoE’s decision

    The GBP/USD pair falls for the second successive day, as sellers hold 1.2200, alongside a risk-on impulse. Broad US dollar strength keeps the American currency afloat against most G10 currencies.Fed officials hawkish comments boosted the dollar and constituted a headwind for the GBP/USD pair. The Bank of England (BoE) is …

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