Data released on Thursday showed the ISM Service Index dropped to the lowest level in 11 months in January. Analysts at Wells Fargo point out it reflects how a lack of available workers and persistent supply shortages “are weighing on firms’ ability to keep up with activity in the service …
Read More »Wall Street Wins the Week Despite Trade Winds and Economic Concerns
A resilient Wall Street concluded a positive week, with gains fueled by the market’s heavyweig…
Gold Retreats Below $3,300 on Dimmed Trade Hopes, Firmer Dollar
Gold prices took a sharp dive below the $3,300 threshold, shedding over 1.60% to trade at $3,294, as…
Bitcoin Consolidates Near $94,000 Amidst Strong Institutional Demand and Shifting Market Sentiment
Bitcoin’s price is currently consolidating around the $94,000 mark, with a 0.85% gain on Frida…
Dollar Climbs Amid Trade Talk Confusion and Fed Rate Cut Hopes
The US Dollar gained ground on Friday, with the US Dollar Index (DXY) rising 0.37% to hover near 99.…
Trump Signals Moderate Stance on Tariffs Amid Market Volatility
In a recent address, US President Donald Trump offered a conciliatory tone regarding the nation̵…
Pound Stumbles Despite Retail Surge as US Sentiment Retreats, Trade Talks Falter
The Pound Sterling struggled to find its footing against a resilient US Dollar, dipping 0.20% to tra…
US Consumer Confidence Crashes as Trade War Sparks Economic Fears
Consumer sentiment in the US took a nosedive in April, marking the steepest decline since the 1990 r…
U.K. Retail Sales Defy Expectations with March Rise, Despite Trump Tariff Fallout
U.K. retail sales unexpectedly rose in March, surprising economists and offering a rare bright spot …
Bitcoin Set for Weekly Gains Despite Cautious Trade on Mixed U.S.-China Signals
Bitcoin edged higher on Friday, adding to strong weekly gains after earlier optimism that U.S. Presi…
Gold Slips as Risk Appetite Improves, but Trade War Uncertainty Keeps Prices Elevated
Gold prices edged lower in Asian trading on Friday, retreating from this week’s record highs as risk…
Market Analysis
February, 2022
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4 February 2022 2:41 am
NZD/USD Bulls Eying Golden Ratio Around NFP
At 0.6661, the bulls are in charge and the bird of 0.5% higher on Thursday’s business in the remaining hour of the US trading session. The price has climbed from a low of 0.6609 to score a high of 0.6681 so far as traders await the outcome of Friday’s US …
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4 February 2022 1:22 am
WTI Surges Above $90.00 For The First Time Since 2014
Front-month WTI futures surged above the $90.00 level for the first time since 2014 in recent trade on Thursday, taking their on-the-day gains to more than $2.0, which would mark the best one-day performance in three weeks. No specific one fundamental catalyst can be singled out as behind the recent …
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4 February 2022 1:04 am
S&P 500 Drops Back As Meta’s Earnings Hammer Equity Sentiment
The S&P 500 slumped back below the 4500 level on Thursday, dropping over 2.0% on the day. Equity market sentiment took a battering after dour earnings guidance from tech giant Meta Platforms (Facebook). Focus has shifted to Amazon earnings after the closing bell and Friday’s US jobs report. Major US …
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4 February 2022 12:13 am
Gold Index Bounces Back As Traders Anticipate Bearish USD On NFP Data
Gold has found some bidders again after a quick but short trip to the downside on Thursday. At $1,805, the yellow metal is about flat again on the day as traders now get their sights on Friday’s Nonfarm Payrolls data. Gold was hit hard on the back of a spike …
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3 February 2022 10:55 pm
GBP/USD Stalls Post BoE’s Interest Rate Policy Decision
GBP/USD bulls take a breather around a fortnight high surrounding 1.3600, during the sixth positive day amid Friday’s Asian session. Earlier, on Thursday, at 1.3605, GBP/USD off its highs of the day by is still positive by some 0.23% following the Bank of England that raised interest rates to 0.5% …
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3 February 2022 10:45 pm
USD/CAD Reverses Back As Oil Prices Advance
The USD/CAD has traded in a relatively directionless fashion on Thursday, initially strengthening towards above 1.2700 as the Canadian dollar weakened in tandem with an earnings-driven downturn in global equities, but more recently dropping back to the 1.2675 area on rising oil prices.At current levels, the pair is back to …
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3 February 2022 9:01 pm
Ahead of NFP Data, Could Economic Recovery Reverse Direction?
Omicron put a massive bump in the road to America’s recovery this winter. The first signs of trouble could show up in the January jobs report on Friday, 4 February. Goldman Sachs cites survey data indicating a surge in absenteeism during the month to expect Omicron-led temporary declines in the …
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3 February 2022 8:23 pm
ECB Policymakers See Change At March Meeting If Inflation Worsens
European Central Bank policymakers see a policy change at the March meeting if inflation does ease, said sources speaking to Reuters.The sources said that policymakers see a faster pace of tapering of the Asset Purchase Programme (APP) as its first point of call to fight higher inflation. According to the …
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3 February 2022 7:05 pm
US Final January Markit Services PMI Surges Above Expectation
According to the final version of IHS Markit’s Services PMI survey, the headline index was 51.2 in January, above the flash estimate for a 50.9 reading. The final Composite PMI came in 51.1 in January, also above the flash reading of 50.8. January US PMI Composite Index (Final): 51.1 vs. …
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3 February 2022 6:20 pm
Market Drivers – European Session 3-2-2022
It was Central Banks Day today and there are several drivers for the markets. The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favor of a 25 bps rate hike. …
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3 February 2022 4:50 pm
ECB Leaves Rates Unchanged
The European Central Bank opted to leave its deposit rate unchanged at -0.5% on Thursday as unanimously expected. The bank maintained its guidance on interest rates, saying they would remain at present or lower levels until the conditions for a rate hike have been met. The bank also reaffirmed its …
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3 February 2022 4:05 pm
Bank of England Hikes Interest Rates by 25bps to 0.50%
The Bank of England announced its monetary policy decision on Thursday and raised the benchmark interest rate by 25bps to 0.50%. The Monetary Policy Committee (MPC) voted 5-4 in favour of the rate hike. The decision was in line with market expectations and marked the first back-to-back rises since 2004. …
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