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Market Analysis

May, 2022

  • 13 May 2022 8:46 pm

    EUR/USD surges above 1.0400 from multi-year lows as equities soar

    The EUR/USD pair has rebounded from the lowest intraday level since 2017 and reversed direction upwards above 1.0400 late on Friday amid a prevalent improvement or risk sentiment and a correction of the US dollar. The euro is still headed toward the lowest weekly close since December 2002.Recovery in equity …

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  • 13 May 2022 7:49 pm

    Wells Fargo: US Consumer Sentiment hit from everywhere

    Data released on Friday show that University of Michigan’s Consumer Sentiment Index dipped to 59.1 in May from 65.2 in April, this is the lowest reading since 2011. According to analysts at Wells Fargo, there is no shortage of factors to blame for the decline in consumer sentiment, from inflation …

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  • 13 May 2022 7:03 pm

    WTI rallies for third session near $109.00

    Oil prices surge for a third straight session on Friday, with front-month WTI future last trading higher by close to $3.0 in the mid-$109.00s per barrel, more than $11 higher than mid-week lows in the $98.00s. The rally on Friday was partially spurred by a rebound in global equity markets …

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  • 13 May 2022 6:13 pm

    US: UoM Consumer Sentiment Index falls to 59.1 in May

    The preliminary estimate of the University of Michigan’s (UoM) Consumer Sentiment Index for May fell to 59.1 versus an expected fall 64.0 from 65.2 in April, its lowest since August 2011, data released on Friday showed. UoM’s Consumer Expectations Index fell to 56.3 from 63.0 in April, larger than the …

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  • 13 May 2022 5:27 pm

    Elon Musk: Twitter takeover ‘temporarily on hold’

    Twitter

    Elon Musk has insisted that he is ‘still committed’ to his $44 billion acquisition of Twitter after throwing the deal into chaos by tweeting that it was ‘temporarily on hold’. Musk’s surprise tweets early Friday sent Twitter stock plunging in the pre-market, as analysts speculated that Musk is trying to …

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  • 13 May 2022 4:03 pm

    Oil rises, but fears of weak demand cap gains

    Oil prices continued to rise on Friday, but were heading for their first weekly loss in three weeks, as concerns about inflation and slowing global growth due to the closures in China to combat the pandemic outweighed the impact of concerns about dwindling fuel supplies from Russia. Brent crude futures …

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  • 13 May 2022 1:54 pm

    European shares rise at the end of a volatile week

    European Stocks

    European shares rose in early trading on Friday to settle at the end of a volatile week dominated by concerns about sharp inflation and tightening monetary policy. The pan-European STOXX 600 index rose 0.7% by 0710 GMT, with banking, oil, gas and technology shares leading the morning gains. Trading in …

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  • 13 May 2022 12:53 pm

    Nikkei records its best daily performance since the end of March

    The Japanese Nikkei index recorded the highest increase in more than a month and a half as investors flocked to cheap stocks, with SoftBank Group leading the gains. The Nikkei jumped 2.64 percent to close at 2,6427.65, the highest daily increase since March 23, recovering from a decline to a …

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  • 13 May 2022 11:56 am

    The Turkish lira depreciates for the seventh consecutive session

    The Turkish lira fell for the seventh consecutive session against the dollar on Friday, bringing its losses to nearly five percent since last Wednesday, and heading towards its record lows last December. The lira fell to 15.4675 against the US currency and settled at 15.4410 per dollar at 0707 GMT. …

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  • 13 May 2022 9:30 am

    Russian Ruble Best Gainer In 2022

    The Russian currency has reportedly made large gains in spite of the sanctions imposed on Moscow by the United States and Washington’s allies.The US and EU attempted to cripple the Russian economy, but the value of the ruble is heading up. After two months of imposing state-crushing sanctions, the ruble …

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  • 13 May 2022 4:46 am

    Market Drivers – US Session – Thursday 12 May

    The US dollar index surged on the back of prevalent risk aversion. Panic selloff hit US equities and a broad crash impacted most cryptocurrencies, meanwhile massive quantitative tightening signals attracted the attention of traders, investors and market participants. Monetary policymakers recurrently hint at measures set to trench liquidity.Economic Data There …

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  • 13 May 2022 4:03 am

    Michigan Consumer Sentiment Index May Preview

    Consumer sentiment data are not normally trading events on most calendars, however, under the current feverish markets, almost any unexpected result will generate a reaction. If the Michigan Index is worse than expected it will spark fears of consumer led recession prompting further equity declines and the US dollar’s status …

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  • 13 May 2022 3:45 am

    Huge Crash Wipes Out Bitcoin, Other Cryptocurrencies

    Over $200 billion erased from the cryptocurrencies’ market in one day as selloff has intensified. The price of bitcoin plunged below $26,000 on Thursday, hitting the lowest level in 16 months.The price of bitcoin plunged as low as $25,401.29 on Thursday. That marks the first time the cryptocurrency has sunk …

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