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Market Analysis

December, 2022

  • 1 December 2022 7:53 pm

    ISM Manufacturing PMI drops to 49 in November vs. 49.8 expected

    The ISM Manufacturing PMI dropped into contraction territory below 50 in November according to the latest data released on Thursday.US Dollar Index continues to push lower, losing more than 1% on the day. The Dollar seems under constant selling pressure following this report and the US Dollar Index was last …

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  • 1 December 2022 7:05 pm

    US Dollar Is Losing On Comments By Fed’s Bowman

    Fed Governor Michelle Bowman said on Thursday that the headline and core inflation slightly slowed down but the latest readings are still unsatisfactorily high. Bowman also expects ongoing increases in rate hikes at coming meetings. According to her, policymakers still have a lot of work to do but it is …

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  • 1 December 2022 5:44 pm

    US annual Core PCE inflation declines to 5% in October

    Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 6% on a yearly basis in October from 6.3% in September, the US Bureau of Economic Analysis announced on Thursday. This reading came in below the market expectation of 6.2%. The annual Core PCE …

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  • 1 December 2022 3:59 pm

    UK house prices are falling at the fastest rate since mid-2020

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    UK house prices fell more than expected in November, as rising borrowing costs affected market sentiment. British home prices fell by 1.4% in November, which is the largest monthly decline since June 2020, according to data from the Nationwide mortgage lender. On an annual basis, house price growth in the …

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  • 1 December 2022 3:56 pm

    German Retail Sales plunge by 5.0% YoY in October

    Germany’s Retail Sales decreased by 2.8% MoM in October versus -0.6% expected and 0.9% previous, the official figures released by Destatis showed on Thursday. On an annualized basis, the bloc’s Retail Sales came in at -5.0% in October versus the -2.8% expected and a 0.9% drop recorded in September. The …

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  • 1 December 2022 2:24 pm

    European stocks rise, supported by Powell’s speech and hopes of easing restrictions in China

    European stocks rose to their highest levels in three months on Thursday, supported by the Federal Reserve chairman’s indication that the pace of rate hikes will be lowered, as well as China’s softening of its rhetoric on strict anti-Covid-19 rules. The Stoxx 600 was up 0.9% by 0810 GMT, after …

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  • 1 December 2022 12:42 pm

    Dollar fell to its lowest level in 3 months against yen

    The dollar fell to a three-month low against the yen on Thursday, as investors focused on Federal Reserve Chairman Jerome Powell’s remarks about the possibility of slowing the pace of interest rate hikes “as early as December.” Powell said on Wednesday that slowing the pace at this point is a …

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  • 1 December 2022 10:58 am

    Oil rises due to lack of supply and optimism about the recovery of demand from China

    Oil prices rose in early Asian trade on Thursday, supported by signs of tight supply and optimism about a recovery in demand from China. And by 0115 GMT, Brent crude futures prices rose five cents to $87.02 a barrel. West Texas Intermediate crude futures rose 16 cents, or 0.2 percent, …

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  • 1 December 2022 10:38 am

    Gold is at its highest level in two weeks

    Gold prices jumped to a two-week high in early Asian trade on Thursday after Federal Reserve Chairman Jerome Powell’s speech boosted expectations of a lower US interest rate hike. By 0039 GMT, spot gold rose 0.4 percent to $1,775.77 an ounce, after touching its highest level since November 16. US …

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  • 1 December 2022 3:00 am

    Market Drivers – US Session 30/11/2022

    Overall, market sentiment fluctuated between optimism and concerns, as the US Dollar started the trading day with negative performance. The American currency managed to recover by mid-way, and finally fell closing in the red territory against its major rival currencies.US Dollar’s slump resulted from US Federal Reserve Chair Jerome Powell’s …

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  • 1 December 2022 1:50 am

    EUR/GBP rebounds ahead of Germany’s Retail Sales

    The EUR/GBP pair is exhibiting mixed performance within a 40-pip range broadly ahead of German Retail Sales. A surprise decline in Eurozone inflation weakened hawkish ECB bets. The sentiment of UK households fell as food inflation soared to a 45-month high.On Wednesday, the headline Eurozone HICP was lower at 10.0% …

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  • 1 December 2022 12:18 am

    Gold eying $1,787 ahead of Fed’s favored inflation reading

    Gold price begins December on a firmer standing around $1,768, after posting the biggest monthly gains in 29 months during November. The precious metal’s latest run-up could be linked to the dovish messages by Fed Chair Jerome Powell, as well as optimism surrounding China. Gold buyers are expected to take …

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November, 2022

  • 30 November 2022 11:15 pm

    Wall Street advances on Powell’s dovish signals

    Wall Street is rejoicing on the latest comments by Jerome Powell. The S&P 500 has gained the first day in four following significantly dovish comments by Fed’s Jerome Powell confirming that the US Fed will slow the pace of its hawkish rate-hiking that impacted financial and exchange markets.The broad index …

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