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Market reviews

All reviews Forex Cryptocurrencies Commodities Stock market Metals

All reviews

Forex
This Week: USD set to react to US jobs report

We get the first Friday of the month so that means the latest release of the US non-farm payrolls report. The consensus expects a headline print of 250k payroll gains. 

3 October 10:21

Commodities
OPEC+ to halt oil’s drop?

Oil prices have drawn some respite from the US dollar’s pullback this week, even though global recession risks still weigh on the commodity’s outlook.

30 September 11:55

Metals
Gold finds relief in easing dollar

The dollar’s pullback in the latter half of this week has given bullion bugs a rare opportunity to peak out from behind the curtains to push spot gold off its two-year low.

30 September 11:52

Stock market
Nike earnings to focus on US inflation, China fears

Nike’s share prices, like most US stocks, have had a year to forget. So far in 2022, this stock has lost about a third of its value (-33.84%) compared to when the year started. Recently, it has also been posting daily closes below the psychologically-important $100 mark, an event not seen in over two years.

29 September 10:30

Cryptocurrencies
Bitcoin reclaims $20k handle

Bitcoin is now trading back above the psychologically-important $20,000 mark, which has restored the total market cap of cryptos above US$ 1 trillion.

27 September 11:05

Forex

This Week: USD set to react to US jobs report

We get the first Friday of the month so that means the latest release of the US non-farm payrolls report. The consensus expects a headline print of 250k payroll gains. 

3 October 10:21

No stopping the all-conquering US dollar

The world’s premier reserve currency continues to astound and delight dollar bulls. Volatility measures are elevated and rising as bond yields go through the roof. The strong greenback marches ever higher and is making new multi-decade highs as we write.

28 September 12:37

This Week: GBPUSD to move closer to parity?

GBPUSD kicked off the new trading week by registering a record low, sinking to 1.035 before paring some of its stunning drop.

26 September 10:48

USD Index hits new 2-year high ahead of Fed hike

The highlight is tonight’s FOMC meeting which is set to deliver another jumbo-sized rate hike to rein in stubborn and sticky inflation.

21 September 11:40

This Week: Fed in focus for next USD move

The FOMC meeting certainly stands out as the Fed is expected to carry on hiking rates. At the time of writing, markets have fully priced in a third-successive 75bps hike. There’s even a non-negligible 22% chance being accorded for a 100bps hike – with such a move not seen since 1989!

19 September 10:16

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Commodities

OPEC+ to halt oil’s drop?

Oil prices have drawn some respite from the US dollar’s pullback this week, even though global recession risks still weigh on the commodity’s outlook.

30 September 11:55

Brent stumbles on stronger US dollar

Oil benchmarks are slipping into the weekend as the US dollar continues pushing higher following the Fed’s recent overt signal to keep pressing on with its aggressive fight against inflation.

23 September 12:21

100bps Fed rate hike could drag oil lower

If the Fed triggers a gargantuan 100bps hike next week, or signals to the markets that the 4.5% peak for the ongoing rate hike cycle is inadequate to tame stubbornly elevated inflation, that may well translate into Brent revisiting its recent cycle low around $87/bbl.

16 September 10:55

Brent oil dragged lower by demand fears

Brent oil is trying to claw its way back above the psychologically-important $90/bbl level, even as it continues to trade around its lowest levels since February. Oil bears took their cues from the “death cross” that formed earlier this week, with the ensuing losses lending credence to such a bearish technical signal.

9 September 12:46

Brent braces for surprise OPEC+ hike

Brent is attempting to hold steady, having plunged back below the psychologically-important $100/bbl mark this week and trading below its 200-day simple moving average (SMA) once more.

2 September 12:13

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Metals

Gold finds relief in easing dollar

The dollar’s pullback in the latter half of this week has given bullion bugs a rare opportunity to peak out from behind the curtains to push spot gold off its two-year low.

30 September 11:52

Gold flirts with bear market as more Fed hikes loom

Spot gold is edging lower ahead of the weekend, as markets continue digesting the prospects of US interest rates staying at a higher-than-expected peak for longer.

23 September 12:15

Gold may crumble to $1600 on more jumbo Fed rate hikes

Spot gold is now testing a crucial support zone around the $1660 mark. If this support level does not hold, there appears little by way of significant support before the psychologically-important $1600 arrives, after stripping away the wild price swings at the onset of the pandemic.

16 September 10:52

$1700 support proves resilient for gold, for now

Spot gold is taking advantage of the pullback in the US dollar, with the latter easing away from overbought conditions after its scorching rally for most of this week. Still, as long as markets continue to expect more jumbo-sized Fed rate hikes in the pipeline, spot gold is set to remain capped by its 50-day simple moving average. Bullion’s year-to-date declines should remain mostly intact, as long as the Fed remains far from reaching peak hawkishness.

9 September 12:45

Gold tests $1700 support ahead of NFP

As mentioned last week, gold prices moved lower following Fed Chair Powell’s hawkish message at Jackson Hole last Friday. Spot gold is now testing the psychologically-important $1700 mark for support ahead of the keenly awaited US August jobs report.

2 September 12:10

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Stock market

Nike earnings to focus on US inflation, China fears

Nike’s share prices, like most US stocks, have had a year to forget. So far in 2022, this stock has lost about a third of its value (-33.84%) compared to when the year started. Recently, it has also been posting daily closes below the psychologically-important $100 mark, an event not seen in over two years.

29 September 10:30

UK stocks await Bank of England hike

The rescheduled Bank of England meeting takes place today with the rate decision slated for 11.00 GMT. Money markets actually predict a bigger 75bps rate hike today taking rates to 2.5%, while consensus only sees another half-point rate rise.

22 September 11:53

Adobe shares need a bright earnings spark

Adobe’s stocks are going through a tough time. Yet even some resilient earnings, to be announced after US markets close today (Thursday, 15th September), may not be enough to excite markets.

15 September 10:47

STOX50 awaits size of ECB rate hike

The European Central Bank will hold its policy meeting today (Thursday, September 8th) and markets are expecting a rate hike, for sure. The question now is: will it be a 50-basis points (bps) hike? Or 75bps?

8 September 10:10

Lululemon earnings may defy economic woes

Sportswear retailer, Lululemon, is set to report the financial results from its fiscal Q2 (ending July 31st) after the US market close on Thursday, September 1st.

1 September 10:43

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Cryptocurrencies

Bitcoin reclaims $20k handle

Bitcoin is now trading back above the psychologically-important $20,000 mark, which has restored the total market cap of cryptos above US$ 1 trillion.

27 September 11:05

Ether’s Merge-mania fizzles out

And so, the “Merge” has come and gone. Turns out, it was a sell-the-news type event (which we mentioned as a risk in last week’s crypto article).

20 September 10:26

Ether: All eyes on the “Merge” this week

After years of waiting, the “Merge” is set to happen for the Ethereum network in just a matter of days, potentially around September 15th. The Merge marks a complete overhaul of how the Ethereum network operates.

13 September 11:39

Bitcoin tests support around 2017 peak

In recent weeks, that 2017 peak has been tested as a crucial support level for the world’s largest cryptocurrency, with Bitcoin traders now wondering whether this mid-$19,000 region marks the true floor for the selloff that has persisted over the past 10 months.

6 September 10:43

Bitcoin: A post-mortem after Jackson Hole

Last week, we posed the question: “Can Bitcoin stay above $20k after Jackson Hole?”. Well, now we have our answer: barely.
 

30 August 10:52

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