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Market Analysis

November, 2022

  • 2 November 2022 11:49 pm

    Fed’s monetary policy statement in brief

    Regarding the monetary policy statement, the Fed acknowledged that US economic growth was slowing down in spending and production and commented that labour market conditions remain “robust” and the unemployment rate is slow. Fed policymakers added that inflation remains elevated, a reflection of the supply/demand imbalances blamed on the pandemic …

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  • 2 November 2022 11:38 pm

    US stocks witness volatile trading on FOMC rate decision

    The Federal Reserve hiked its target interest rate by three quarters of a percentage point, as expected. Chair Jerome Powell said that the Fed could start to dial back rate hikes in future meetings, giving the economy a bit of a breather from punishing interest rate spikes that have slowed …

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  • 2 November 2022 11:07 pm

    Jerome Powell: If we overtighten, we have tools to support economic activity

    FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 75 basis points to the range of 3.75-4% following the November policy meeting.Key Quotes“If we overtighten then we have the ability with our tools to support economic activity.”“On the other …

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  • 2 November 2022 10:34 pm

    EUR/USD jumps to two-day highs after FOMC statement

    The US Federal Reserve has raised interest rate by 75 basis points as expected. The US dollar as FOMC says will take into account the cumulative tightening.The EUR/USD pair is gaining momentum, above 0.9950 could test parity. The EUR/USD rose following the Fed’s decision to raise interest rates by 75 …

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  • 2 November 2022 10:23 pm

    Gold Price rallies after FOMC’s dovish language

    Gold prices have shot higher on a hint of dovishness in today’s interest rate statement and policy decision by the Federal Open Market committee. The vote was unanimous in favour of the policy whereby the Fed hiked by 75bps, setting the target range at 3.75% – 4.00%. Gold is up …

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  • 2 November 2022 10:03 pm

    Breaking: Fed hikes policy rate by 75 bps to 3.75-4% as expected

    The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3.75-4% following the November’s two-day monetary policy meeting. This decision came in line with the market expectation. This is the fourth Fed’s interest rate hike in a …

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  • 2 November 2022 9:24 pm

    EUR/GBP in range below 0.8625 ahead of the FOMC

    The euro remains stalled below 0.8625 for the second consecutive day. The market is calm ahead of the FOMC. On Thursday, the BoE is expected to deliver a “dovish hike”.The euro has remained trading within a narrow range against the British pound for the second consecutive day. The pair has …

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  • 2 November 2022 8:17 pm

    Can Rishi Sunak Help The Stock Market?

    Sunak has acknowledged that his country is dealing with “profound economic challenges,” and he is stepping in at a pivotal time as the country needs some stability. Sunak is feeling the pressure of trying to gain investors’ confidence following the financial fallout caused by last month’s controversial tax cuts.The markets …

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  • 2 November 2022 7:21 pm

    US shares fall as Wall Street prepares for FOMC decision

    The Dow Jones Industrial Average dropped 105 points, or 0.3%. The S&P 500 and Nasdaq Composite retreated 0.5% and 0.7%, respectively. So, Stocks fell Wednesday as investors await the Federal Reserve’s latest rate decision at the conclusion of its two-day policy meeting.The Fed is widely expected to announce a 0.75 …

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  • 2 November 2022 4:49 pm

    US: ADP Employment Change rises 239K in October

    The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 239,000 in October. This reading came in better than the market expectation of 193,000. September print of 208,000 got revised down to 192,000. Commenting on the data, “this is a …

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  • 2 November 2022 3:49 pm

    European stocks open higher ahead of the Fed’s rate decision

    European shares started trading higher on Wednesday, boosted by the rise of the Danish pharmaceutical company Novo Nordisk, while hopes were raised that the Federal Reserve may hint at a slowdown in the pace of monetary tightening at its meeting later on Wednesday. The pan-European STOXX 600 index rose 0.3 …

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  • 2 November 2022 3:48 pm

    Oil falls ahead of US Federal Reserve interest rate decision

    Oil prices fell on Wednesday ahead of the Federal Reserve’s expected rate hike, but expectations of a decline in US crude inventories and European sanctions on Russian oil limited losses. Brent crude fell 56 cents, or 0.6 percent, to $ 94.09 a barrel by 1027 GMT, while US West Texas …

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  • 2 November 2022 2:30 pm

    Russia announces continued talks with Turkey over grain agreement

    The Kremlin said on Wednesday that it is still in contact with Turkey over the Ukraine grain deal but that Russia’s participation is currently suspended. Russia suspended its participation in the deal at the weekend, saying it could not guarantee the safety of civilian ships crossing the Black Sea due …

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