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Market Analysis

August, 2022

  • 9 August 2022 6:25 am

    Market Drivers – US Session – Monday August 8

    The US dollar eased on Monday as government bond yields retreated, providing support to stock markets. Still, the absence of relevant news maintained US indexes seesawing within familiar levels. European indexes posted modest intraday gains, but Wall Street closed mixed.Spot gold retained gains at the end of the day at …

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  • 9 August 2022 1:14 am

    Goldman Sachs Cuts Oil Price Forecast To $110 This Quarter

    Goldman Sachs revised down its Brent price forecast for this quarter to $110 a barrel, down from a previous projection of $140 per barrel, but the investment bank still believes the case for higher oil prices remains strong.In recent weeks, oil prices have been driven down by low trading liquidity …

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  • 9 August 2022 12:19 am

    EUR/USD testing green territories, eyeing US CPI data

    EUR/USD is shyly paddling in the green territory at the start of the week. The pair is holding up by 0.20% in the midday New York session. The pair has also ranged between a low of 1.0159 and 1.0221 so far and is currently trying to hold onto 1.0200 but …

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  • 8 August 2022 11:20 pm

    After Extending Earlier Rally, Bitcoin Hovers Around $24K

    At the time of writing, the most famous cryptocurrency trades at $23,976. Earlier on Monday, Bitcoin climbed above $24,000, rising upon the same rhythm with the stock market and elevating stocks with high exposure to cryptocurrency.The price of Bitcoin has jumped nearly 5% over the past 24 hours to $24,220.36, …

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  • 8 August 2022 10:28 pm

    GBP/USD Drops From Daily Highs

    The GBP/USD 4-hour scale depicts the pair as neutral-downward biased and might test the 1.2000 figure, short term.GBP/USD pair has trimmed some of last Friday’s losses but the asset is still trapped between the 20 and 50-DMA. The daily chart depicts the pair trending between a descending channel as sellers …

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  • 8 August 2022 9:39 pm

    Nvidia stock drops on preliminary earnings warning

    Nvidia’s Q2 earnings will be announced after at least two weeks, but the company has found its way to news headlines after its preliminary numbers were revealed on Monday and the results are not looking good. The gaming revenue is reported at $2.04 billion, a staggering 33.33 percent decrease from …

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  • 8 August 2022 8:45 pm

    US stocks give up earlier gain, impacted by chips

    US Stocks were little changed on Monday, following the S&P 500′s third straight weekly gain, as investors shifted focus to a key inflation report this week and struggles for the semiconductor industry.The Dow Jones Industrial Average gained 31 points or 0.1%. The S&P 500 and Nasdaq Composite were flat. Stocks …

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  • 8 August 2022 7:57 pm

    New York Fed’s inflation expectation retreat to 6.2% in July

    The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US Consumers’ one-year inflation expectations declined to 6.2% in July from 6.2% in June. The three-year inflation expectations edged lower to 3.2% from 3.6%.The US dollar stays reluctant following this report and the …

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  • 8 August 2022 7:16 pm

    Gold steadies as jobs data triggers bets on big US rate hike

    Gold futures traded higher on Monday after Friday’s jobs report showed the pace of hiring unexpectedly surged last month, suggesting the Federal Reserve may have to remain aggressive in its effort to cool the economy.Gold futures steadied on Monday as July’s US jobs data cleared the way ahead for more …

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  • 8 August 2022 6:15 pm

    Gold rises as dollar and bond yields fall

    Gold turned higher on Monday as the dollar and Treasury yields tumbled with attention this week on US inflation data, which could influence the US central bank’s next rate hike decision. And gold rose in spot transactions 0.5% to $ 1782.36 an ounce (an ounce) by 1252 GMT, after declining …

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  • 8 August 2022 4:06 pm

    Oil near multi-month lows as demand concerns grow

    On Monday, oil prices moved away slightly from multi-month lows as fears of declining demand due to pessimistic economic prospects outweighed positive economic data from China and the United States. Brent crude futures erased earlier gains and fell 51 cents, or 0.5 percent, to $94.41 a barrel by 0816 GMT. …

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  • 8 August 2022 2:49 pm

    The dollar is falling, losing some employment data gains

    The dollar fell on Monday, losing some of the gains it made on the back of strong US employment data released on Friday as currency markets reversed their initial reaction. The higher-than-expected US employment data last week boosted the dollar’s strength against the major currencies. Traders saw the data as …

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  • 8 August 2022 1:09 pm

    Chinese exports to Russia rose for the first time in 5 months in July

    Russia

    Official customs data showed that Chinese exports to Russia rose significantly in July after a 4-month decline. Reuters calculations based on customs data indicated that exports to sanctioned Russia rose 22.2 percent in July from the previous year in dollar terms, reversing a 17 percent decline in June, the first …

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