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Market Analysis

October, 2022

  • 27 October 2022 5:43 pm

    US economy grows at an annualized rate of 2.6% in Q3

    The US economy expanded at an annualized rate of 2.6% in the third quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading followed the 0.6% contraction recorded in the second quarter and came in slightly better than the market expectation for a growth of …

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  • 27 October 2022 5:12 pm

    Gold falls with the rise of the dollar and investors await economic data

    Gold prices fell on Thursday as the dollar rose, while investors awaited economic data amid expectations that the Federal Reserve may slow the pace of interest rate hikes after November. And gold fell in spot transactions 0.1 percent to $ 1662.79 an ounce by 0952 GMT, and US gold futures …

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  • 27 October 2022 4:15 pm

    ECB hikes key rates by 75 basis points in October as expected

    The European Central Bank (ECB) announced on Thursday that it raised its key rates by 75 basis points (bps) following the October policy meeting as expected. With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility …

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  • 27 October 2022 3:53 pm

    ECB Press Conference: Lagarde speech live stream – October 27

    Christine Lagarde, President of the European Central Bank (ECB), is scheduled to deliver her remarks on the monetary policy outlook at a press conference at 12:45 GMT. Follow our live coverage of ECB’s policy announcements and the market reaction.

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  • 27 October 2022 3:08 pm

    Oil rises thanks to strong US crude exports

    Oil prices rose on Thursday, October 27, to continue rising more than 3% in the previous session, supported by record-high US crude exports and a weak dollar. Still, persistent concerns about weak demand in China limited gains in Asia. By 03:32 GMT, Brent crude futures rose 20 cents, or 0.2%, …

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  • 27 October 2022 2:11 pm

    USD rises after intense selling, JPY rises

    The dollar rose on Thursday after falling earlier to its lowest level in a month in volatile trading ahead of the European Central Bank’s expected interest rate hike. Meanwhile, the yen gained some strength ahead of the Bank of Japan’s monetary policy decision on Friday, rising to 145.11 against the …

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  • 27 October 2022 1:05 pm

    European stocks fall on anticipation of a rate hike

    European shares opened lower on Thursday as investors remained cautious ahead of a widely expected decision by the European Central Bank to raise interest rates, as well as the troubled Swiss bank Credit Suisse unveiling restructuring plans. The pan-European Stoxx 600 index fell 0.3 percent after closing at a five-week …

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  • 27 October 2022 12:16 pm

    Nikkei closes lower after 3 days of gains

    The Japanese Nikkei index ended Thursday’s trading lower after three days of gains, as cautious investors focused on the outlook for specific stocks as earnings season reached its climax. The Nikkei index closed down 0.32 percent at 27,345.24 points. The index recorded positive readings at times in the morning session, …

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  • 27 October 2022 5:13 am

    Market Drivers – US Session 26/10/2022

    The American dollar resumed its journey to the south, falling against its major rivals. The EUR/USD pair reclaimed parity and approaches 1.0100 ahead of preliminary Q3 Gross Domestic Product estimate in the United States, September Durable Goods Orders reading (expected to up by 0.6%) and the European Central Bank monetary …

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  • 27 October 2022 2:40 am

    EUR/USD Moves Within Narrow Range

    The EUR/USD pair is displaying back-and-forth moves in a narrow range of 1.0073-1.0088 in the early Asian session. The pair has turned sideways after a vertical rally as positive market sentiment improved demand for risk-sensitive currencies.The major is expected to remain in the grip of bulls ahead of the interest …

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  • 27 October 2022 1:36 am

    AUD/USD in narrow range ahead of key US data

    The AUD/USD pair is trading within a narrow range of 0.6484-0.6500 as investors are awaiting the release of the US Gross Domestic Product (GDP) data for fresh stimulus and clues. The asset is facing a time correction after refreshing its three-week high at 0.6511 amid an improvement in the risk …

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  • 27 October 2022 12:21 am

    ECB Preview: Rate Decision Could Be Euro’s Game Changer

    The European Central Bank is going to announce its monetary policy decision on Thursday. Policymakers, led by President Christine Lagarde, are expected to finally abandon their cautious approach to quantitative tightening. Europe’s CPI reading reached record highs, so, the European central bank will have to decide another 75 bps rate …

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  • 26 October 2022 10:59 pm

    Gold Price Higher on Weaker US Dollar

    Gold is on the edge of an important bullish reversal, but it all depends on the Fed’s policy expectations. Technically, the bulls need to hang on above hourly support and break a daily H&S neckline. US bond yields have slipped on expectations that the Federal Reserve will temper its aggressive …

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