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Market Analysis

August, 2022

  • 11 August 2022 12:00 pm

    Data: China’s auto sales jump 30% in July

    Taiwan, China

    Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …

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  • 11 August 2022 3:14 am

    Market Drivers – US Session – Wednesday August 10

    The US dollar fell following the release of US inflation reading. The dollar ended the trading day in the red territory against all major rival currencies. Safe-haven currencies edged higher against the US dollar, with USD/CHF now changing hands at 0.9426 and USD/JPY trading at 132.90. Gold was the worst …

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  • 11 August 2022 2:37 am

    Tesla’s software slammed by Ralph Nader as dangerous, irresponsible

    US politician Ralph Nader has issued a statement calling Tesla’s full self-driving technology “one of the most dangerous and irresponsible actions by a car company in decades.”Nader called on the National Highway Traffic Safety Administration (NHTSA) to use its safety recall authority to order that FSD technology be removed in …

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  • 11 August 2022 1:23 am

    Gold recovers on softer US dollar, less hawkish Fed bets

    Gold price is advancing towards $1,800.00 after a healthy correction. The precious metal trades at 1,792 at the time of writing amid a risk-on market sentiment that has infused fresh blood into the gold bulls.Cooler than expected US CPI has trimmed extremely hawkish Fed bets. Gold price has picked bids …

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  • 11 August 2022 12:12 am

    US dollar retreats on CPI data

    The dollar index was down 1.025% at 105.26 at 3:15 p.m. The US dollar broadly fell on Wednesday following a cooler than expected US inflation reading for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the American central bank. US consumer prices …

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  • 10 August 2022 11:20 pm

    Sweden, Not France, Biggest Exporter Of Power In Europe

    o On Wednesday, Sweden reportedly overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows. France has lost its position as Europe’s biggest exporter of electricity as the nation struggles with extended outages at its nuclear …

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  • 10 August 2022 10:44 pm

    Fed’s Kashkari: Far, far, far away from claiming victory on inflation

    Fed’s Neel Kashkari said while he is happier to see inflation surprised to the downside, the Fed is far far far away from declaring victory on inflation. He added that ”this doesn’t change my rate hike path”, and he is expecting 3.9% end of this year 4.4% end of next …

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  • 10 August 2022 9:58 pm

    Bitcoin Jumps On US Inflation Data

    The price of Bitcoin (ETH), the leading cryptocurrency, surged to an intraday high of $24,010 on the Bitstamp exchange at 12:48 a.m. UTC. Ethereum (ETH) and other top altcoins also spiked sharply higher. Crypto markets responded favourably after the slower than expected CPI reading, which takes pressure off the Federal …

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  • 10 August 2022 9:09 pm

    Atlanta Fed GDPNow for Q3 surges to 2.5%

    According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate.Atlanta Fed explained in its publication that after recent releases from the US Bureau of Labor Statistics …

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  • 10 August 2022 8:31 pm

    Indian companies swapping dollar for Asian currencies to buy Russian coal

    Indian companies are moving towards several Asian currencies more often to be able to pay for Russian coal imports, according to customs documents and industry sources. Most companies do avoid the US dollar and cut the risk of breaching Western sanctions against Moscow.One large Indian coal deal involves the Chinese …

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  • 10 August 2022 7:51 pm

    BOE’s Pill: Wage growth running too fast at present

    Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair …

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  • 10 August 2022 7:09 pm

    Joe Biden: Seeing some signs of inflation moderating

    US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …

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  • 10 August 2022 5:55 pm

    US stocks shot higher after inflation data

    US stock indexes opened trading on Wednesday, August 10, with the release of inflation data for the month of July, which came less than expected. At the beginning of the session, the Dow Jones index jumped by 1.36% to 3321.8 points, the Nasdaq rose by 2.22% to 12,768 points, and …

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