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Market Analysis

June, 2022

  • 22 June 2022 4:20 am

    Market Drivers – US Session – Tuesday, June 21

    US Fed Chair Jerome Powell will testify before Congress. Powell’s awaited remarks will be out ahead of the event. Market players will be looking for hints on future quantitative tightening. Economic DataThe UK will release updates on inflation data on Wednesday.Other DevelopmentsCentral bankers keep hinting at aggressive measures. Bank of …

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  • 22 June 2022 4:04 am

    EUR/USD hovers around 1.0550 ahead of Powell’s Testimony

    Powell’s Testimony is being awaited and eyed amid market talk over the longevity of Fed’s 75 bps rate hike. The EUR/USD pair holds onto the previous two-day gains around 1.0535-40 during Wednesday’s initial Asian session. The pair’s latest rebound could be linked to the softer US dollar, as well as …

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  • 22 June 2022 2:07 am

    Could Cryptocurrencies recover losses this summer?

    On Tuesday, Bitcoin trades at $21,000 as optimism is encouraging more transactions on the Volume Profile indicator. Investors are now looking to participate in the discounted Bitcoin price should consider reading last week’s outlook for an in-depth analysis and precise invalidation level.Finally; the crypto market is showing signs of a …

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  • 22 June 2022 1:11 am

    GBP/USD bulls in control but face a wall of 4-hour resistance

    At 1.2270, GBP/USD pair trades on the bid between 1.2239 and 1.2324. The price is currently higher by 0.24% and correcting from last week’s drop from 1.24. Overall, the prevalent market sentiment tone is risk-on and positive for the pound with the softer US dollar despite a focus on higher …

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  • 21 June 2022 11:35 pm

    Gold Holds Around $1833

    At $1,833.90, gold trades flat by mid-day New York trading session and has stuck to a $1,830.83 and $1,843.66 range so far in a fickle trading environment. There has been some bargain hunting on Wall Street following last week’s sellofs in stocks as investors move in on the energy and …

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  • 21 June 2022 10:23 pm

    EUR/USD firmly heads towards 1.0530s on softer Dollar

    As the Euro extended its gains in the week by 0.42%, the US dollar, on the contrary, falls courtesy of a positive market mood.Officially, ECB’s Rehn backs a move above 25 bps in the ECB’s September meeting. On the US front, Fed’s Barkin supported a 50/75 bps rate hike in …

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  • 21 June 2022 9:43 pm

    Treasury Bond Yields Poised To Surge Again

    According to the Research Department at BBVA, Treasury yields are likely to rise more, peaking at the time when the US Fed end with tightening monetary policy. Analysts point out current Treasury yield spreads seem to continue to price in a soft landing. It is worth noting that one week …

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  • 21 June 2022 9:06 pm

    AUD/USD edges higher but retreats amidst positive sentiment

    The AUD/USD is upward biased in the near term, boosted by RBA’s Lowe, saying that a 25-50 bps increase in the July meeting is on the cards.AUD/USD edges up after beginning the week on the wrong foot, jumping from 0.6915 daily lows towards 0.6990 highs, closing to the 0.7000 threshold. …

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  • 21 June 2022 8:30 pm

    Bank of France cuts 2022 growth expectations to 2.3% from 3.4%

    The Bank of France announced on Tuesday that it cut the growth forecast for 2022 to 2.3% from 3.4%. In 2023, the central bank expects the French economy to expand by 1.2%, compared to 2% in its previous forecast.The EUR/USD pair reacted by losing its traction and erased a portion …

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  • 21 June 2022 7:53 pm

    Barkin: Fed Will have to restrict monetary policy, question is how much

    Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that he will remain focused on actual inflation and expectations between now and the July policy meeting, as reported by Reuters.Barkin’s comments don’t seem to be have immediate impact on the US dollar’s performance against its rival currencies. The …

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  • 21 June 2022 7:16 pm

    Germany’s Habeck: Reduced gas supply is a Russian economic attack

    German Economy Minister Robert Habeck said on Tuesday that the reduced gas supply had “another dimension” and that it was an economic attack by Russia against Germany, as reported by Reuters.Habeck has added that the gas supply situation could become worse than the coronavirus pandemic. Markets have not reacted to …

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  • 21 June 2022 5:52 pm

    US: Chicago Fed National Activity Index declines to 0.01 in May

    The Federal Reserve Bank of Chicago’s National Activity Index fell to 0.01 in May from 0.4 (revised from 0.47) in April. This data shows that the US economy expanded at its historical average in May. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.27 …

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  • 21 June 2022 5:10 pm

    Canada: Retail Sales rise by 0.9% in April vs. 0.8%

    The monthly data published by Statistics Canada showed on Tuesday that Retail Sales in Canada rose by 0.9% in April to C$60.72 billion. This print came in better than the market expectation for an increase of 0.8% and followed March’s expansion of 0.2% (revised from 0%). The publication further revealed …

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