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Market Analysis

July, 2022

  • 22 July 2022 12:47 pm

    UK Retail Sales fall 0.1% MoM in June

    The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to 52.2 in July versus 52.0 expected and 52.8 – June’s final reading. Meanwhile, the Preliminary UK Services Business Activity Index for July arrived at 53.3 when compared to June’s final score of 54.3 and 53.0 expected.

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  • 22 July 2022 11:30 am

    Ukraine is discussing with major institutions ways to reduce debt payments

    The Ukrainian Government Commissioner for Public Debt Management, Yuri Potsa, said Thursday, July 21, that Kyiv is talking to major international financial institutions about ways to reduce debt payments soon. The comments came a day after Ukraine demanded its international creditors, including Western powers and the world’s largest investment firms, …

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  • 22 July 2022 11:11 am

    Gold falls with the rise of USD

    Gold prices fell on Thursday to their lowest levels in nearly a year, as prospects for an interest rate hike by major central banks to curb spiralling inflation weighed on the precious metal’s allure. Although gold is considered a hedge against inflation, higher interest rates increase the opportunity cost of …

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  • 22 July 2022 3:50 am

    Market Drivers – US Session – Thursday, July 21

    All eyes focused on the ECB on Thursday, amid a series of events taking place in the European Union. The most relevant was the central bank’s monetary policy decision on hiking rates by 50 bps, the first hike in over 11 years, and the awaited move away from negative rates. …

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  • 22 July 2022 3:24 am

    Snapchat misses on Q2 revenue, shares fell by 23%

    Snap announced the company’s second quarter earnings after the closing bell on Thursday, missing Wall Street’s expectations, so shares fell by 23% in after-hours trading.Average revenue per Snapchat user fell 4.5% year-over-year, and the company said it was not providing Q3 guidance given the current financial climate.Snapchat’s earnings follow the …

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  • 22 July 2022 2:32 am

    AUD/USD eyes a correction from US session highs

    The AUD/USD pair’s performance is flat in the first hour of Asian trade on Friday as it moves in on extremes of a broadening formation on the charts, but fundamentally, the stock markets on Wall Street and the softer US dollar have been a significant catalyst, so, the pair rallied …

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  • 22 July 2022 1:47 am

    WTI struggles around $96.00 amid supply worries

    WTI pares the biggest daily loss in one week ahead of the key activity data for July. Restoration of Nord Stream 1 gas pipeline drowned oil prices despite positive risk appetite and the softer US dollar. Libya’s resumption of oil production, ECB rate hikes and fears of a recession in …

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  • 22 July 2022 1:06 am

    Impact of Tesla’s latest sale on Bitcoin market value

    Tesla has sold 75% of its Bitcoin holdings for an average price of $29,000. The price of the most famous cryptocurrency has not yet shown a correlation to the sudden bearish news as the invalidation of the bullish macro thesis remains at the $13,880 level.CEO Elon Musk attributed Tesla’s lack …

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  • 22 July 2022 12:13 am

    Fed’s meeting will be decisive for gold price

    Gold price falls back into the hands of the bulls following the ECB’s rate policy decision. The Gold Index is now at a critical stage in the bearish cycle where a significant correction could play out. Next week’s Fed meeting will be very important for rate and gold traders. Gold …

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  • 21 July 2022 10:45 pm

    USD/CHF Benefits From Improved Market Sentiment

    The USD/CHF pair is still upward biased, but in the short-term might aim towards 0.9600. the improved market sentiment dented demand for the US dollar, and constitutes a remarkable headwind for the asset.The USD/CHF slides for the second day in four retreats below 0.9700, amidst an improved market mood weighing …

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  • 21 July 2022 9:36 pm

    How Does Bitcoin React To $930M Tesla’s Bitcoin Sale?

    Bitcoin staged its first test of critical support on Thursday July 21 as the impact of the news headline that Tesla liquidated most of its Bitcoin holdings diminished. The BTC/USD pair is focusing on the $22,800 zone after dropping from multi-week highs of $24,280. The pair had swiftly reacted but …

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  • 21 July 2022 8:50 pm

    EUR/USD fundamentally overvalued

    The European Central Bank raised the key interest rates on Thursday for the first time in 11 years. Analysts at Danske Bank expect the central bank to hike another 100bp this year, before halting its cycle. They still prefer the idea of selling ECB-induced euro rallies.Key Quotes: “EUR/USD initially rallied …

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  • 21 July 2022 8:04 pm

    Wells Fargo: ECB Deposit Rate to reach 1.00% by the end of 2022

    The European Central Bank raised key interest rates on Thursday by 50 bps. The move was larger than expected. Analysts at Wells Fargo believe inflation remains elevated enough, and inflation risks worrisome enough, to continue with a more forceful pace of rate hikes for the time being. Key Quotes: “As …

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