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Market Analysis

November, 2022

  • 30 November 2022 10:49 pm

    Powell’s Speech Drags US Dollar Lower

    In his first public appearance and remarks on the US economy since the post-FOMC policy decision press conference on November 2, where he warned of a higher terminal rate, Fed chair Jerome Powell said on Wednesday that it would “make sense to moderate pace of interest rate hikes”.Since the November …

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  • 30 November 2022 10:19 pm

    European markets close higher on Eurozone inflation data

    European markets closed higher on Wednesday as November has proved to be a month with robust performance while regional investors reacted to the latest inflation data from the Eurozone for the month.Stoxx 600 closed up 0.6%, adding monthly gains of around 6.1%. Household goods added 2.3% to represent the leading …

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  • 30 November 2022 10:09 pm

    Fed’s Cook: Time nearing to hike rates in smaller steps

    Fed’s Lisa Cook, who before said the US central bank is focused on addressing inflation that is “much too high”, reiterated on Wednesday that inflation is still too high.Cook noted that it could soon be “time for the US central bank to take its foot off the gas when it …

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  • 30 November 2022 9:23 pm

    US Dollar slides on disappointing jobs data ahead of Powell’s speech

    The US dollar is sliding lower following jobs data in November that missed expectations before a highly awaited speech by Fed Chair Jerome Powell. The dollar index added to earlier losses after the ADP National Employment reading indicating that US private payrolls increased far less than expected in November, suggesting …

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  • 30 November 2022 8:27 pm

    Dow falls 200 points as investors await Powell speech

    The Dow Jones Industrial Average fell on Wednesday as Wall Street is walking through ponds of economic data and investors await this afternoon speech on the US economy by Fed Chair Jerome Powell. Powell will give his speech before Brookings Institute.The Bureau of Economic Analysis reported that GDP increased at …

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  • 30 November 2022 7:32 pm

    US JOLTS reading declines to 10.3 million in October

    US JOLTS Job Openings discreetly retreated in October. The number of job openings fell to 10.3 million on the last business day of October versus the previous reading of 10.7 million in September according to the US Bureau of Labour Statistics in its Job Openings and Labour Turnover Summary (JOLTS) …

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  • 30 November 2022 5:27 pm

    US: Private sector employment rises by 127,000 in November

    The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 127,000 in November. This reading came in weaker than the market expectation for an increase of 200,000. The publication further revealed that annual pay was up 7.6% yearly in November. …

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  • 30 November 2022 4:18 pm

    Gold is heading for its best monthly performance in more than two years

    Gold prices rose on Wednesday, on their way to recording the largest monthly increase in more than two years, while investors await the speech of Federal Reserve Chairman Jerome Powell, seeking any indications on the path of the US central bank’s monetary policy. Spot gold rose 0.6 percent to $1,760.56 …

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  • 30 November 2022 2:36 pm

    Eurozone Preliminary Inflation softens to 10.0% YoY in November

    The annualized Eurozone Harmonised Index of Consumer Prices (HICP) eased sharply to 10.0% in November vs. October’s 10.6%, the latest data published by Eurostat showed on Monday. The market forecast was for a 10.4% print. The core figures steadied at 5.0% YoY in November when compared to 5.0% expectations and …

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  • 30 November 2022 1:54 pm

    Dollar is heading for the largest monthly loss since 2010

    The dollar fell from its highest level in a week on Wednesday ahead of a speech by Federal Reserve Chairman Jerome Powell on Wednesday, while optimism about easing strict Covid restrictions in China put it on track for its biggest monthly loss in more than a decade. The euro did …

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  • 30 November 2022 1:52 pm

    The Turkish economy grew 3.9% in Q3

    Official data showed on Wednesday that the Turkish economy expanded by 3.9 percent in the third quarter on an annual basis, a rate slightly lower than expected and slower than it achieved earlier in the year, as domestic and external demand were affected by high inflation and the global slowdown. …

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  • 30 November 2022 1:51 pm

    Oil rises amid hopes of easing Covid restrictions in China

    Oil prices rose on Tuesday, amid expectations that China will ease strict restrictions related to Covid-19, but fears that the OPEC + group will keep its production unchanged at its next meeting limited the gains. Brent crude futures settled at $83.03 a barrel, down 16 cents, or 0.2 percent, while …

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  • 30 November 2022 12:32 pm

    The Nikkei index is falling for the fourth session

    Japan’s Nikkei fell for the fourth consecutive session on Wednesday as data on weak factory production added to fears of a global economic slowdown, while investors await Federal Reserve Chairman Jerome Powell’s speech for clues about US monetary policies. The Nikkei index ended Wednesday’s trading down 0.21 percent at 27,968.99 …

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