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Market Analysis

July, 2022

  • 9 July 2022 3:20 am

    Twitter will sue Elon Musk to complete deal

    Twitter

    Elon Musk decided that he is no longer interested in acquiring Twitter, so he told the company of terminating their deal on Friday.Although Musk signed a binding merger agreement, he said Twitter is in “breach” for allegedly refusing his information requests and making employee changes. The deal has been tumultuous …

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  • 8 July 2022 5:39 pm

    EUR/USD trims losses after NFP data

    EUR/USD extends the rebound from earlier cycle lows. The US Non-farm Payrolls rose by 372K jobs in June. The unemployment rate remained at 3.6%.Despite the rebound from lows, the selling interest around the single currency remains well and sound and motivates EUR/USD to keep the price action subdued around 1.0100/15 …

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  • 8 July 2022 4:37 pm

    June’s US Nonfarm Payrolls rise above expectations

    Nonfarm Payrolls in the US rose by 372,000 in June, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed May’s increase of 384,000 (revised from 390,000) and came in better than the market expectation of 268,000. The Unemployment Rate remained unchanged at 3.6% …

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  • 8 July 2022 5:01 am

    Market Drivers – US Session – Thursday, July 7

    US inflation expectations, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, bounced off the lowest levels since September 2021 by the end of Thursday’s North American session. The inflation gauge recently flashed the 2.33% mark, reversing from the previous day’s multi-month low of …

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  • 8 July 2022 4:19 am

    NFP Preview: Forecast from 10 major banks

    The US Bureau of Labor Statistics (BLS) will release the May jobs report on Friday, July 8 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming employment data. Expectations are for …

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  • 8 July 2022 3:19 am

    China ponders unprecedented bond sales

    The Chinese Ministry of Finance is pondering permission to local governments to sell 1.5 trillion yuan of special bonds in the second half of this year, an unprecedented acceleration of infrastructure funding to shore up the country’s beleaguered economy.The news adds strength to the recent risk-on mood and helps AUD/USD …

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  • 8 July 2022 1:03 am

    Most Financial Assets Await NFP Data For Direction

    The US Bureau of Labour Statistics will release the May jobs report on Friday, July 8 at 12:30 GMT. Expectations are for a rise of between 268000 and 270000 (just under 300000) in Nonfarm Payrolls following the previous reading of 390000 increase in May (just under 400000). The Unemployment Rate …

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  • 8 July 2022 1:00 am

    GBP/JPY exposed to selling pressure

    The GBP/JPY has reached a fresh two-day high at around 163.62. Investors’ optimism augmented their appetite for risk-sensitive currencies like the pound.The pair erases Wednesday’s losses and soars on Thursday amidst a risk-on impulse that augmented appetite for riskier assets, meaning safe-haven peers sustaining losses. The pair is trading at …

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  • 8 July 2022 12:16 am

    Gold Price is correcting ahead of NFP

    Gold is correcting from a significant sell-off in the week ahead of NFP. The bulls eye a 50% mean reversion but it all comes down to key data on Friday. Despite gold kicking off the second half of the year with a drop below $1,800 per ounce, Bloomberg Intelligence sees …

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  • 7 July 2022 11:37 pm

    WTI price benefits from supply fears

    US crude oil prices reclaim the $100 level on supply issues. Russia’s halt of a Kazaks terminal cut supply by 1.2 million BPD.Oil prices rise on Thursday, jumping from weekly lows around $95.13, as the US dollar retraces from two-year highs and recession fears abate. At the time of writing, …

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  • 7 July 2022 10:43 pm

    Do US stocks ignore recession threats?

    The Dow Jones Industrial Average climbed 250 points Thursday morning, reflecting positive global trade, as investors digested an early batch of jobs data. The highly anticipated US payrolls report is due out Friday morning.Tesla traded up around 3% early Thursday. Elsewhere, Dow Jones tech leaders Apple and Microsoft were squarely …

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  • 7 July 2022 9:54 pm

    Fed Officials Speak On Inflation, Soft Landing,

    Fed’s Bullard: We’ve got a good chance at a soft landingCEO of the Federal Reserve Bank of St. Louis. James Bullard has said that rather than stagflation, a better bet is growth will slow to trend and that inflation will come under control rapidly.Key comments by BullardThe labor market could …

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  • 7 July 2022 9:01 pm

    Canada witnesses sharp widening in trade surplus

    Data released on Thursday showed an increase in the trade surpluses from CAD 2.17 billion to 5.32 billion in May. Analysts at CIBC warn the increase could be temporary considering it was driven in part by a strengthening in oil prices which has reversed more recently.Key Quotes: “The goods trade …

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