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Market Analysis

November, 2022

  • 11 November 2022 8:37 pm

    BoE’s Haskel: policy should stand firm against inflation

    Bank of England policymaker Jonathan Haskel said on Friday that it is important for the monetary policy to stand firm against the risk of persistent inflationary pressure, as reported by Reuters.GBPUSD showed no immediate reaction to these comments and was last seen rising 0.6% on the day at 1.1780.Key Quotes“Concern …

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  • 11 November 2022 7:48 pm

    UoM Consumer Confidence Index drops in early November

    Consumer confidence in the US deteriorated in early November. US Dollar Index stays deep in negative territory below 107.00. Consumer sentiment in the US weakened in early November with the University of Michigan’s (UoM) Consumer Confidence Index falling to 54.7 (flash) from 59.9 in October. This reading came in below …

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  • 11 November 2022 4:50 pm

    Gold heads for its best week in more than two years

    Gold prices are headed for their biggest gain in more than two years after extending their gains on Friday, as signs of slowing inflation boosted hopes that the Federal Reserve may shift to easing monetary policy. Spot gold rose 0.1% to $1,756.54 an ounce by 1127 GMT, after rising more …

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  • 11 November 2022 3:43 pm

    Britain’s economy shrinks 0.2% in Q3

    Official data showed the British economy contracted 0.2% in the three months to September, which is expected to be the start of a prolonged recession. Experts polled by Reuters had forecast a larger contraction of 0.5 percent of the gross domestic product in the third quarter. The Bank of England …

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  • 11 November 2022 2:56 pm

    Dollar is heading for the biggest losses since 2015

    Investors are dumping the dollar as weaker-than-expected US consumer price data boosted hopes the Federal Reserve will ease monetary policy tightening in smaller-than-expected increases in its fight against inflation. The range of the dollar’s movements against several currencies on Thursday was significant. By 1730 GMT, the US currency was down …

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  • 11 November 2022 1:27 pm

    European shares open higher, supported by commodity and luxury companies

    European shares opened higher on Friday, as news of China’s easing of strict Covid rules boosted stocks related to primary and luxury goods, which were also supported by better-than-expected sales data and margins from Richemont. The Stoxx 600 index rose 0.4 percent by 0812 GMT, and Swiss luxury goods Richemont …

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  • 11 November 2022 12:35 pm

    Japan’s Nikkei index hits two-month high

    Japan’s Nikkei index ended Friday’s trading at a two-month high, boosted by a rally in Tokyo Electron and other growth-related shares, as markets tracked Wall Street after signs of lower inflation bolstered hopes the US central bank would slow the pace of interest rate hikes. The Nikkei jumped 2.98 percent …

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  • 11 November 2022 2:42 am

    Market Drivers – US Session 10/11/2022

    WTI is currently changing hands at around $86.40 a barrel. The US Dollar fell on Thursday against all major rival currencies, yields plunged, as market participants rushed to bet on US Fed’s less hawkishness on monetary policy next December. Optimism returned to most assets. US Stocks soared. US indexes are …

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  • 11 November 2022 2:23 am

    BoC’s Macklem: Canadians should expect even more rate hikes to come

    “Canadians should expect even more rate hikes to come on top of six that have already happened this year,” said Bank of Canada Governor Tiff Macklem during an interview with CBC News late Thursday.As for price reaction, the USD/CAD pair bears take a breather at a seven-week low, around 1.3323 …

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  • 11 November 2022 1:53 am

    Fed’s George calls for more measured pace of rate hikes

    Kansas City Federal Reserve President Esther George on Thursday reiterated her support for a slower pace of US interest rate increases. She also called for a more measured method that could allow policymakers time to judge how the rises in borrowing costs are affecting the US economy.“I continue to see …

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  • 11 November 2022 12:57 am

    US Stocks Close With Sheer Gains On Hopes For Lower Inflation

    Wall Street stocks surged on Thursday and closed with sheer gains, including a nearly 1,200-point jump for the Dow, as investors seized on data showing US inflation slowing to spark a rally.The Dow Jones Industrial Average jumped 3.7 percent to finish at 33,715.37, while the broad-based S&P 500 jumped 5.5 …

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  • 10 November 2022 11:50 pm

    WTI struggles to regain $87 on soft US inflation data

    Oil prices bounce up from $84.70 low to reach levels past $87.00. WTI is trading at $86.60 at the time of writing. The Dollar plunges on soft US CPI data and hopes of Fed’s rate hiking easing have boosted risk appetite.WTI prices appreciated on Thursday to hit session highs right …

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  • 10 November 2022 10:52 pm

    Mexico central bank hikes interest rate to record 10.0%

    The Bank of Mexico hiked its key interest rate by 75 basis points to a record 10.00% on Thursday, in line with forecasts and following in the footsteps of the US Fed’s own recent three-quarter of a percentage point increase.In a departure from recent decisions, the bank’s five board members …

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