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Market Analysis

July, 2022

  • 11 July 2022 11:30 am

    Nikkei closes higher after Japan’s coalition government strengthened its majority in parliament

    Japan’s Nikkei index closed higher on Monday after Japan’s coalition government consolidated its majority in the upper house of parliament in Sunday’s election. The Nikkei closed up 1.11 percent at 26,812.30 points, after climbing as much as 2 percent earlier in the session to its highest level since June 13. …

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  • 11 July 2022 11:01 am

    Gold price declines, as the dollar stabilizes near its highest level in 20 years

    Gold fell on Monday as the dollar settled near a 20-year high, continuing to pressure demand for dollar-denominated gold. The price of gold fell 0.1 percent to $ 1740.16 an ounce by 0045 GMT. US gold futures fell 0.2 percent to $1,739.50. The dollar has stabilized near its highest level …

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  • 11 July 2022 10:41 am

    Oil price drops due to recession fears and China’s restrictions

    Oil and Gas oil (

    Oil prices fell nearly $1 on Monday in choppy trading after worries about a recession and China’s restrictions to combat COVID-19 outweighed persistent concerns about a supply shortage. Brent crude futures were down 82 cents, or 0.8 percent, at $106.20 a barrel. US West Texas Intermediate crude futures fell $1.04, …

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  • 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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