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Market Analysis

August, 2022

  • 25 August 2022 11:46 am

    Oil rises, supported by a possible OPEC + supply cut

    OPEC

    Oil prices rose on Thursday on mounting concerns over supply shortages amid disruptions to Russian exports, possible production cuts by major oil producers and the partial shutdown of a refinery in the United States. By 0630 GMT, Brent crude rose 45 cents, or 0.4 percent, to $101.67 a barrel, while …

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  • 25 August 2022 11:00 am

    Japan’s Nikkei halts 5 sessions of decline

    Japan

    Japan’s Nikkei index halted a five-session decline on Thursday, boosted by gains in drug and technology makers, as investors awaited the Federal Reserve’s Jackson Hole conference for any clues on the pace of interest rate hikes. The Nikkei index rose 0.58 percent to 28,479.01 points, and the broader Topix index …

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  • 25 August 2022 4:34 am

    Market Drivers – US Session – Wednesday, August 24

    Investors have an eye on digesting the latest US economic data and another eye on the signals that could be contained in Fed Chair Jerome Powell’s speech before Jackson Hole Symposium on Friday. Fed’s annual event will host global economists and policymakers to discuss a variety of topics. Market players …

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  • 25 August 2022 3:17 am

    US Shares end higher as focus shifts to Jackson Hole

    Wall Street closed higher on Wednesday, lifted by gains in energy stocks while investors await Federal Reserve’s Jackson Hole conference later this week.Intuit Inc rallied by 4% after the accounting software maker forecast upbeat fiscal 2023 revenue, providing reasonable boost for the tech-heavy NasdaqAfter the bell, Salesforce Inc (CRM.N) dipped …

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  • 25 August 2022 12:42 am

    WTI rises on US-Iran Talks, US Stockpiles data

    After fluctuating in a choppy trading session on Wednesday, West Texas Intermediate rose 1.2% to settle near $95 per barrel. The Energy Information Administration data showed that US crude stockpiles fell amid record petroleum exports. Meanwhile, the US sent its response to the EU’s latest proposal to rescue the 2015 …

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  • 25 August 2022 12:18 am

    USD/JPY Reacts To Dollar’s Cautious Rally

    The USD/JPY pair is facing daily resistance as well as a break of the hourly trendline support that is expected to expose the asset at the 137’s figure. The asset is trading at 137.14 at the time of writing.A break below the said level could open the way for a …

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  • 24 August 2022 11:48 pm

    EUR/USD pressured post short rebound

    US dollar loses some momentum on risk appetite as attention shifts to Jackson Hole. The EUR/USD pair looks unable to recover 1.0000, and instead, holds near 20-year lows.The EUR/USD rose from the daily low at 0.9907 to 0.9998 in a few minutes around the London fix, on the back of …

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  • 24 August 2022 11:02 pm

    Have Comments By Fed’s Kashkari Pushed Treasury yields Higher?

    Treasury yields advanced Wednesday morning, led by the 2-year maturity which reflects the near-term path of Fed’s policy, as investors digested hawkish comments from regional central-bank official Neel Kashkari.On Tuesday, Kashkari, president of the Minneapolis Fed, said that the central bank needs to push ahead with tightening monetary policy until …

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  • 24 August 2022 10:26 pm

    Gold has chance for correction ahead of Jackson Hole

    Gold has extended its bullish correction to the 38.2%$ ratio target and now has a chance of a deeper correction. Jackson Hole symposium is looming and signals by Jerome Powell are most awaited for direction and clues.The dollar benefited from higher US yields following the demand from domestic and international …

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  • 24 August 2022 9:37 pm

    Wells Fargo: USD could peak in Q4

    Analysts believe the US Dollar strength through the end of 2022 as a result of the hawkish Fed. They point out the dollar could peak during the fourth quarter of 2022, starting a period of cyclical weakness against most currencies in 2023 as the US economy enters recession and the …

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  • 24 August 2022 8:45 pm

    Will Mega Hike Save Eurozone From Looming Crisis?

    The Swiss National Bank imposed a minimum exchange rate against the Euro. Fears are, currently, accelerating of a new Euro crisis is broadly spreading. There are several signals that the Euro is weakening again. This week, the shared currency fell to a new all-time low against the Swiss franc. The …

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  • 24 August 2022 8:02 pm

    Iran starts assessing US response

    A spokesperson for Iran’s Foreign Ministry said on Wednesday that Iran has received the United States’ response to the draft agreement proposed by the European Union.The Iranian official has also said Tehran has started assessing the US comments on the draft deal. With the initial market reaction to this headline, …

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  • 24 August 2022 7:11 pm

    Market closer to bottom as pending home sales decline

    US Pending home sales dropped 19.9% in July compared with July 2021. This economic reading is a a measure of signed contracts on existing homes. The figure fell along eight out of the past nine months as rising mortgage rates made housing less affordable.Pending home sales, a measure of signed …

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