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Market Analysis

October, 2022

  • 14 October 2022 8:47 pm

    US Treasury seeks ways to improve liquidity

    A regular survey ahead of the quarterly refunding announcements was used by the US Treasury Department in order to ask major banks whether the government should buy back government bonds to improve the market liquidity.“The Treasury is also querying whether reduced volatility in the issuance of Treasury bills as a …

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  • 14 October 2022 7:32 pm

    Fed’s Daly: We will have to be data-dependent on rate hikes

    In an interview with Yahoo Finance on Friday, San Francisco Fed President Mary Daly said that this week’s Consumer Price Index data was not so surprising, noting that it’s a lagging indicator.The US Dollar Index was seen rising 0.55% on the day at 112.87 after these comments.Key Quotes“Today’s retail sales …

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  • 14 October 2022 4:46 pm

    US: Retail Sales stay unchanged at $684 billion in September

    Retail Sales

    The data published by the US Census Bureau showed on Friday that Retail Sales in the US, adjusted for seasonal variation, holiday and trading-day differences but not for price changes, stayed virtually unchanged at $684 billion in September. This reading followed August’s increase of 0.4% and came in below the …

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  • 14 October 2022 3:51 pm

    UK Finance Minister Kwarteng has been sacked – BBC

    According to the BBC, Prime Minister Liz Truss has sacked British Finance Minister Kwasi Kwarteng. Reporting on the matter, “The Telegraph now understands that Liz Truss is set to remove Kwasi Kwarteng as Chancellor this afternoon,” The Telegraph tweeted. “It was thought the PM’s press conference would be held at …

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  • 14 October 2022 3:15 pm

    Eurozone posts record trade deficit in August as energy prices soar

    Official estimates revealed on Friday that the eurozone recorded its largest trade deficit in August since it had 19 member states in 2015, as the import bill rose as energy prices rose. The European Union’s statistics office (Eurostat) said the euro zone’s merchandise trade balance with the rest of the …

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  • 14 October 2022 2:10 pm

    Oil rises, affected by weak dollar and lower US fuel stocks

    Oil prices compensated for losses incurred earlier in the session and rose in Asian transactions on Friday, supported by the weakness of the dollar and the decline in US fuel stocks. At the same time, a row continues between Saudi Arabia and the United States over plans by the OPEC …

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  • 14 October 2022 12:18 pm

    Japan shares rise to the highest level in 7 months

    Japanese stocks rebounded on Friday, boosted by the strong performance of Fast Retailing as investors appeared to ignore US inflation data that fueled bets for a US Federal Reserve interest rate hike next month. The Nikkei average rose 3.25 percent to 27,090.76 points, its biggest daily percentage gain since March …

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  • 14 October 2022 12:17 pm

    Gold is heading to record a weekly loss

    Gold prices rose on Friday, supported by the decline in the dollar and US Treasury yields, but increased expectations of another big hike in US interest rates kept the precious metal on course for a weekly decline. And the price of gold in spot transactions rose 0.3 percent to $ …

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  • 14 October 2022 7:38 am

    Market Drivers – US Session 13/10/2022

    US inflation on Thursday was behind some wild, volatile moves. Fed is widely expected to decide a 75 bps rate hike in November and a peak policy rate of 4.85% in March 2023. The initial reaction to CPI data release the news was negative. Wall Street retreated, yields soared, and …

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  • 14 October 2022 1:01 am

    Gold prices depart daily lows after CPI data

    Gold bounced up from $1,642 lows and returned to the $1,665 area. Gold is trading at $1,666 at the time of writing. Gold futures are retracing previous losses during Thursday’s US trading session, favoured by a broad-based USD pullback. The precious metal has bottomed at a two-week low of $1,642 …

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  • 13 October 2022 10:58 pm

    White House looks for positive side of CPI data

    The White House said there is indicator of progress in Thursday’s inflation reading though the Federal Reserve is expected to respond by aggressively by raising interest rates once again in November’s meeting.September’s CPI, measuring the changes in prices for a slate of consumer goods and services, showed that American consumers …

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  • 13 October 2022 10:05 pm

    US stocks find surging momentum on US CPI

    US stocks are strongly back into the green territory, putting on a short squeeze following the pre-market and opening selloff that ensued on the back of hot Consumer Price Index data. Stocks plunged to lows for the year but bulls moved in at a big discount, sending the Dow Jones …

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  • 13 October 2022 9:14 pm

    EUR/USD climbs after hot inflation data

    The EUR/USD dived to a daily low of 0.9631 as a reaction to US inflation, but the pair was able to recover later. CPI jumped more than estimated by 6.6% YoY, topping August 6.3%. Contrarily, headline inflation edged lower from the previous month’s 8.3% to 8.2%, almost 1% lower than …

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