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Market Analysis

November, 2022

  • 2 November 2022 10:03 pm

    Breaking: Fed hikes policy rate by 75 bps to 3.75-4% as expected

    The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3.75-4% following the November’s two-day monetary policy meeting. This decision came in line with the market expectation. This is the fourth Fed’s interest rate hike in a …

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  • 2 November 2022 9:24 pm

    EUR/GBP in range below 0.8625 ahead of the FOMC

    The euro remains stalled below 0.8625 for the second consecutive day. The market is calm ahead of the FOMC. On Thursday, the BoE is expected to deliver a “dovish hike”.The euro has remained trading within a narrow range against the British pound for the second consecutive day. The pair has …

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  • 2 November 2022 8:17 pm

    Can Rishi Sunak Help The Stock Market?

    Sunak has acknowledged that his country is dealing with “profound economic challenges,” and he is stepping in at a pivotal time as the country needs some stability. Sunak is feeling the pressure of trying to gain investors’ confidence following the financial fallout caused by last month’s controversial tax cuts.The markets …

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  • 2 November 2022 7:21 pm

    US shares fall as Wall Street prepares for FOMC decision

    The Dow Jones Industrial Average dropped 105 points, or 0.3%. The S&P 500 and Nasdaq Composite retreated 0.5% and 0.7%, respectively. So, Stocks fell Wednesday as investors await the Federal Reserve’s latest rate decision at the conclusion of its two-day policy meeting.The Fed is widely expected to announce a 0.75 …

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  • 2 November 2022 4:49 pm

    US: ADP Employment Change rises 239K in October

    The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 239,000 in October. This reading came in better than the market expectation of 193,000. September print of 208,000 got revised down to 192,000. Commenting on the data, “this is a …

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  • 2 November 2022 3:49 pm

    European stocks open higher ahead of the Fed’s rate decision

    European shares started trading higher on Wednesday, boosted by the rise of the Danish pharmaceutical company Novo Nordisk, while hopes were raised that the Federal Reserve may hint at a slowdown in the pace of monetary tightening at its meeting later on Wednesday. The pan-European STOXX 600 index rose 0.3 …

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  • 2 November 2022 3:48 pm

    Oil falls ahead of US Federal Reserve interest rate decision

    Oil prices fell on Wednesday ahead of the Federal Reserve’s expected rate hike, but expectations of a decline in US crude inventories and European sanctions on Russian oil limited losses. Brent crude fell 56 cents, or 0.6 percent, to $ 94.09 a barrel by 1027 GMT, while US West Texas …

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  • 2 November 2022 2:30 pm

    Russia announces continued talks with Turkey over grain agreement

    The Kremlin said on Wednesday that it is still in contact with Turkey over the Ukraine grain deal but that Russia’s participation is currently suspended. Russia suspended its participation in the deal at the weekend, saying it could not guarantee the safety of civilian ships crossing the Black Sea due …

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  • 2 November 2022 12:59 pm

    Nikkei closes flat ahead of Fed decision

    Japan’s Nikkei index ended Wednesday’s trading in the Tokyo Stock Exchange little changed amid weak trading ahead of the Federal Reserve’s decision on interest, which would also give clues to the bank’s future policy path. Still, investors were keen to buy Sony Group shares in light of strong expectations. Nikkei …

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  • 2 November 2022 5:34 am

    Market Drivers – US Session 1/11/2022

    US Treasury yields helped high-yielding assets to advance early on Tuesday, with the American dollar edging lower throughout the first half of the day. The yield on the 10-year Treasury note pulled down to 3.92%, and the USD tends to slide when it breaks below the 4% threshold ahead Yields …

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  • 2 November 2022 4:00 am

    BoJ Minutes: Japan’s economy is picking up

    The Bank of Japan’s minutes for the September meeting minutes are released early Wednesday denoting that few members said need to be watchful to the impact of monetary tightening by some central banks could have on global markets. Members agreed Japan’s economy is picking up. Several members said weak yen …

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  • 2 November 2022 2:45 am

    BoC’s expects policy rate will need additional hikes

    “We expect our policy rate will need to rise further”, said Bank of Canada (BoC) Governor Tiff Macklem. Macklem also noted that how much further rates go up will depend on how monetary policy is working, how supply challenges are resolving and how inflation is responding to this tightening cycle.“We …

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  • 2 November 2022 1:51 am

    New Zealand’s jobs data triggers bullish trend for NZD

    The New Zealand Employment Change that is released by Statistics New Zealand as a measure of the change in the number of employed people in New Zealand has put a slight bid into the country’s dollar, with the headline data beating expectations:NZD/USD has risen from a low of 0.5835 to …

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