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Market Analysis

September, 2022

  • 17 September 2022 2:29 am

    Market Drivers – US Session 16/09/2022

    Most investors are worried about an aggressive Fed’s hike that could knock the US economy into a recession. At the time of writing, the USD/CAD is trading at 1.3293, above its opening price by 0.51%. The Canadian dollar weakened versus the solid US dollar, piercing the 1.3300 mark briefly during …

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  • 17 September 2022 12:40 am

    Basra spill pushes oil prices up, but weekly decline recorded

    Oil prices slightly rose on Friday on news about Iraq’s Basra terminal’s spill. The news indicates crude supply constraint, but overall, prices are still down on the week on fears that interest rate increases will curb global economic growth and accordingly will impact global demand for fuel.Brent crude futures settled …

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  • 16 September 2022 11:46 pm

    T-Yields soaring ahead of FOMC’s rate decision

    Short-dated Treasury yields soared on Friday while the dollar rose as investors bet on US interest rate hike next week and grew alarmed at signs of a global economic slowdown.The two-year U.S. Treasury yield, a bellwether for interest rate expectations, topped 3.9%. Coupled with a decline in the benchmark 10-year …

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  • 16 September 2022 10:42 pm

    GBP/USD recovers ahead of rate decisions by BoE, Fed

    The GBP/USD pair is expected to finish the current week with more than 1.50% losses, ahead of BoE’s and Fed decisions. The pair is trading at 1.14 at the time of writing versus Thursday’s closing price at 1.1395.The University of Michigan Consumer Sentiment improved versus the last month’s reading, while …

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  • 16 September 2022 9:44 pm

    USD/JPY is set to finish the week with gains

    The USD/JPY pair is maintaining mixed trading as Japanese intervention in the forex markets is underway. The pair is neutral, but a break below 143.00 could pave the way toward 142.99.The USD/JPY slumps for the second day in the week after falling short of testing the YTD high at 144.99, …

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  • 16 September 2022 8:40 pm

    Dow Jones Loses 300 points on FedEx warning

    US stocks fell Friday as Wall Street headed toward a big losing week, and traders absorbed an alarming warning from FedEx concerning earnings and slowdown of the global economy. The Dow Jones Industrial Average dropped 306 points, or 1%. The S&P 500 and Nasdaq Composite slid 1.2% and 1.6%, respectively.Shares …

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  • 16 September 2022 7:50 pm

    Gold could slide further if Fed hikes more than 75 bps

    Gold has been trading below the $1,700 mark for three days. Gold is now trading at $1677.15. The Fed policymakers will meet next week, and an increase of 75 basis points is broadly anticipated. Strategists at Commerzbank have examined how the precious metal could react to such a move. “If …

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  • 16 September 2022 7:00 pm

    Germany seizes Rosneft’s refinery

    Germany

    Germany took control of a major Russian-owned oil refinery on Friday, risking retaliation from Moscow as Berlin struggles to hold up energy supplies and meet its European Union commitment to cut Russian energy imports by the end of 2022.The economy ministry said it was putting a unit of Russian oil …

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  • 16 September 2022 5:54 pm

    European new car sales rise again after 13 months of decline

    New car sales in the European Union returned to growth in August after 13 months of decline. Sales increased 4.4% overall and rose in the main markets of Spain, Italy, Germany, and France, although they remained well below pre-pandemic levels, the European Union of car manufacturers said. This year and …

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  • 16 September 2022 4:19 pm

    Gold stable near the lowest level in two years

    Gold prices stabilized on Friday, near their lowest level in more than two years, and are on track to record their worst weekly performance in two months, after expectations of a large interest rate hike by the Federal Reserve (the US central bank) raised bond yields. Which extinguishes the luster …

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  • 16 September 2022 3:05 pm

    Stability in oil prices, despite its tendency to record a weekly decline

    Oil prices were largely stable on Friday, but are heading for a weekly decline amid fears of sharp interest rate increases, which is expected to curb global economic growth and fuel demand. Brent crude futures rose 25 cents, or 0.3 percent, to $91.09 a barrel by 0921 GMT, but fell …

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  • 16 September 2022 2:22 pm

    Reuters: Russia and Saudi Arabia see $100 a barrel as a fair price for oil

    Citing sources familiar with the matter, Reuters reported on Friday that Saudi Arabia and Russia see $100 a barrel as a fair price for oil that the global economy can absorb. “Our focus is straightforward – looking at supplies and demand balances over a period of no less than a …

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  • 16 September 2022 1:03 pm

    European shares open lower as recession fears intensify

    European shares fell on Friday as recession fears and expectations of a big interest rate hike during the Federal Reserve’s (US Central Bank) meeting next week weighed on sentiment. The pan-European Stoxx 600 index fell one percent moments after the opening bell, bringing its declines this week to more than …

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