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Market Analysis

March, 2022

  • 16 March 2022 10:04 pm

    Fed lifts rate by 25bps, signals more hikes

    The US Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) had voted to lift the Federal Funds Rate (FFR) target range to 0.25-0.50% from 0.00-0.25%, as expected. In the Fed’s updated statement on monetary policy, it signaled that further rate hikes would likely be appropriate, as …

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  • 16 March 2022 9:11 pm

    Russia on verge of debt default amid sanctions

    Russia is spiraling closer to a historic debt default that could ripple throughout the global economy after the U.S. and its European allies hit the Kremlin with a slew of crippling financial sanctions. Moscow’s invasion of Ukraine nearly one month ago, the biggest attack on a European state in decades, …

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  • 16 March 2022 8:58 pm

    USD/CAD Edges Lower Ahead Of FOMC Decision

    The Canadian dollar advances some 0.30% vs. the greenback amid an increased risk appetite. Discussions between Russia-Ukraine would continue, though fighting remains. The USD/CAD pair slides for the second straight day in the week, ahead of the FOMC monetary policy decision amid a risk-on market mood, as geopolitical jitters around …

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  • 16 March 2022 8:36 pm

    USD/JPY Maintains Pre-Fed Strength

    The USD/JPY pair continues to move higher and, just under 118.50, is on course for an eighth successive day in the green territory.The pair is eyeing a break above late-2016/early-2017 highs in the 118.60s. Markets are risk-on in the lead up to the Fed announcement amid signs of progress in …

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  • 16 March 2022 7:25 pm

    Ukraine Rejects Neutrality In Peace Discussions

    Ukraine has reportedly rejected Russian claims that it was open to adopting a model of neutrality comparable to Sweden in peace talks, reported the Independent on Wednesday. Russian negotiators said that Kyiv had offered to become a de-militarised state, but Ukraine responded by saying that it needs “legally verified security …

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  • 16 March 2022 6:31 pm

    Market Drivers – European Session 16-3-2022

    Canadian inflation hit 5.7% YoY in February, according to Statistics Canada’s latest headline Consumer Price Index (CPI) release on Wednesday. That was above the expected rise to 5.5% from 5.1% in January. The MoM increase in the headline CPI in February was 1.0%, a little above the 0.9% expected and …

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  • 16 March 2022 5:32 pm

    Canada: Annual CPI rises to 5.7% in February

    Canadian inflation hit 5.7% YoY in February, according to Statistics Canada’s latest headline Consumer Price Index (CPI) release on Wednesday. That was above the expected rise to 5.5% from 5.1% in January. The MoM increase in the headline CPI in February was 1.0%, a little above the 0.9% expected and …

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  • 16 March 2022 4:47 pm

    USD/JPY closer to highest level since 2018

    The dollar index fell against the major currencies during Wednesday’s trading before the Federal Reserve’s decision, while the US currency traded near a 5-year high against the yen. The US central bank is expected to implement its first rate hike since 2018 later in the day amid uncertainty over the …

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  • 16 March 2022 4:38 pm

    US Retail Sales rise by 0.3% in February

    Retail Sales in the US rose by 0.3% on a monthly basis in February to $658.1 billion, the data published by the US Census Bureau showed on Wednesday. This reading fell short of the market expectation for an increase of 0.4%. On a positive note, January’s print got revised higher …

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  • 16 March 2022 3:03 pm

    US Index Futures Rise, Eyes on Fed Meeting

    US Dow Jones futures rose more than 300 points as Wall Street attempts to rally for the second day in a row, despite the US Federal Reserve meeting tonight. Dow Jones Industrial Average futures rose 359 points, or 1.1%, while S&P 500 futures rose 1.2%. Nasdaq 100 futures jumped 2%. …

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  • 16 March 2022 1:49 pm

    European Stocks Hit Two-Week Highs

    European Stocks

    European stocks rose to near two-week highs on Wednesday after China promised to roll out more stimulus to boost its economy, while hopes of progress in Ukraine-Russia peace talks kept the mood buoyant. The pan-European STOXX 600 index rose 2.2%, hitting its highest since March 3. Battered stock markets in …

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  • 16 March 2022 1:00 pm

    IEA says 3 mln bpd of Russian oil could be shut in next month

    The International Energy Agency said on Wednesday that three million barrels per day of Russian oil and its products may not reach the market by the beginning of April, in the wake of Russia’s invasion of Ukraine. “Of the cutback, we see a reduction in total exports of 2.5 million …

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  • 16 March 2022 12:03 pm

    FED Preview: Forecasts From 4 Major Banks

    USD

    The US Federal Reserve will announce its monetary policy decisions on Wednesday, March 16 at 18:00 GMT, and as we get closer to the release time, here are the expectations as forecast by analysts and researchers of 4 major banks. JP Morgan “The Fed is gearing up to combat rising …

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