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Market Analysis

August, 2022

  • 11 August 2022 11:39 pm

    The Merge Boosted Cryptos On Thursday

    Crypto values jumped early on Thursday as Ethereum moved a few steps closer to “The Merge.” This is generally seen as a bullish move for crypto use cases because Ethereum has the largest base of developers and many tokens are on the Ethereum blockchain.The value of Ethereum was up as …

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  • 11 August 2022 10:49 pm

    USD/CAD battles after US PPI decelerates

    Bank of Canada

    The USD/CAD pair extended its losses for the second straight day as sellers eye a break of the 200-DMA. July’s US inflation reports show signs of peaking, with CPI at 9% YoY and PPI at 10% YoY, below their previous month’s readings.The USD/CAD is trading at 1.2738 under its opening …

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  • 11 August 2022 9:53 pm

    EU Faces Worsened Energy Crisis On Soaring Demand

    European power prices have surged to fresh records on Thursday as recurrent hot weather waves are contributing to limit energy supplies and wildfires rage across France. Wildfires have been raging in the country, leading President Emmanuel Macron to enlist help from across Europe to join 10,000 French firefighters to battle …

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  • 11 August 2022 9:12 pm

    Gold slides away from $1800 on soaring US T-yields

    Gold has dived in the negative direction for the day after a reversal from near $1800. The Gold Index peaked at $1799 during the US trading session and then turned to the downside falling around $1785.Thursday’s data showed the Producer Price Index in the US dropped by 0.5% in July, …

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  • 11 August 2022 8:22 pm

    US Stocks rise on signs of easing inflation

    Futures point to Wall Street gains following Wednesday’s rally and US Stocks jumped for a second day Thursday as investors cheered another better-than-expected inflation report.The Dow Jones Industrial Average rose 182 points, or nearly 0.5%. The S&P 500 added 0.5%, and the Nasdaq Composite rose 0.2%.Investor sentiment got a boost …

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  • 11 August 2022 7:43 pm

    EUR/USD retreats as US Dollar Index trims losses

    The US July PPI drops unexpectedly in July while jobless claims hit monthly highs. The US dollar remains in negative territory, even as US yields rise.The EUR/USD pair is up for the fifth consecutive day, holding under Wednesday’s top. The pair has failed to break Wednesday’s highs around 1.0355 and …

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  • 11 August 2022 6:59 pm

    Disney stock pops on earnings, surpasses Netflix subscribers

    Those who are looking for signs of a recession are advised not look at Disney’s earnings report or the performance of Disney plus, in particular. Disney plus is only 18 months old, a really incredible performer.Disney stock surged by 73% in its theme park revenue year over year and smashed …

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  • 11 August 2022 4:55 pm

    OPEC cuts full-year 2022 world oil demand growth forecast to 3.1 million bpd

    In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said that it lowered the 2022 full-year demand growth forecast to 3.1 million barrels per day (bpd) from 3.36 million bpd, as reported by Reuters.

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  • 11 August 2022 4:53 pm

    Weekly Initial Jobless Claims rise to 262K

    There were 262,000 initial jobless claims in the week ending August 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 248,000 (revised from 260,000) and came in slightly lower than the market expectation of 263,000. Further …

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  • 11 August 2022 3:46 pm

    The dollar records more losses after US inflation data

    The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …

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  • 11 August 2022 2:49 pm

    Gold falls amid signs of US interest rate hike

    Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …

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  • 11 August 2022 2:35 pm

    Oil steadies after IEA raises demand growth forecast

    Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

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  • 11 August 2022 12:59 pm

    European stocks open higher

    European Stocks

    European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

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