Market Overview

23 July 2021 10:41

Mark Goichmann

Platinum prices have been performing a downside movement since mid-July as they fell from $1146 per troy ounce to $1054, or by almost 8%. Platinum went under a global sell off of risky assets used for the production of other items – crude, stocks, metals, etc. fell victim to negative market sentiment as new, more contagious and deadly COVID-19 Delta and other strains spread around the globe. Besides, signals of possible early tapering of monetary stimulus in the United States due to the rise in inflation levels are seen to be much more visible recently.
16 July 2021 10:21

Mark Goichmann

It seems that the single European currency has been laying on the side of risky assets over recent months. All of these risky assets are currently standing against the U.S. Dollar, which has been acting like a safe haven asset so far this year. The dovish rhetoric of Federal Reserve’s (Fed) Chair Jerome Powell in the U.S. Congress seems to be pressuring the Greenback while supporting the Euro. Mr. Powell streamed placidity despite shocking inflation figures in the United States that hit 5.4%.
9 July 2021 12:50

Mark Goichmann

The European central bank (ECB) made an unexpected move in its monetary policy by changing its inflation target from the previous “below, but close to, 2% over the medium term” to “2% over the medium-term with a ’symmetric’ aim”. The new approach of the ECB is clearer as the Governing Council of the ECB is now considering negative and positive deviations from this target due to the fact that now they are equally undesirable. However, this statement eliminates “any possible ambiguity and resolutely conveys that 2% is not a ceiling” as the President of the ECB Christine Lagarde said.
6 July 2021 05:37

Mark Goichmann

The Organisation of the Petroleum Exporting Countries (OPEC) and its allies failed to reach an agreement to extend the production cut deal beyond April 2022. Three days of dramatic dispute ended without an expected plan being reached concerning the increase of production quotas by 400,000 barrels per day which was predicted to be set for August-December 2021. The meeting of OPEC+ countries was postponed three times, but eventually ended with no agreement. The demand for crude oil is rising along with global economic recovery and reviving business activity.
25 June 2021 11:25

Mark Goichmann

Markets seem to be full of paradoxes and here is only one. Market participants managed to have a breather from swift monetary policy position changes last week after the Federal Reserve (Fed) announced possible earlier than expected interest rate hikes in 2023 and the start of the stimulus tapering discussion. This announcement was enough for a short correction of risky assets and the U.S. Dollar.
18 June 2021 12:15

Mark Goichmann

Brent crude prices were testing their highs this week at the psychological level of $75 per barrel. The strong upward trend is still present despite recent corrections and there could be many reasons for that. The pandemic is gradually fading, causing business activity to recover worldwide, and consequently the demand for “black gold” to increase. According to the recent forecast of the International Energy Agency the global demand for crude oil could top 96.7 million barrels per day in 2021, which is 5.7  million bpd above the 2020 level, when it plunged by 8.
11 June 2021 10:49

Mark Goichmann

A combination of market events on Thursday seem to largely illustrate a possible disposition of the U.S. Dollar and the Euro. First of all inflation in the United States presented a 13 year record high as it jumped to 5.0% vs the forecasted 4.7%, and the previous April figure of 4.2%. Such a surge in prices may have been a shock for investors some time ago, and led to immediate strengthening of the Greenback amid swift actions from the Federal Reserve (Fed) to tighten monetary policy.
4 June 2021 13:23

Mark Goichmann

Over recent months gold has been seen to be acting like a counter-Dollar in the market. Price movements of the yellow metal are strongly linked to the economic policy of the U.S. Administration and market perception of the Greenback. However, a general upward trend in gold prices, that started in March 2020, remain intact. Since then gold prices rose from $1680 per troy ounce to above $2100 per ounce. Major central banks, including the Federal Reserve (Fed), have been conducting ultra-loose monetary policy since spring 2020.
28 May 2021 11:27

Mark Goichmann

The Chinese Yuan is traditionally considered as an instrument authorities use to gain advantages in international trade by constantly devaluing it. For years the United States accused China for its currency market manipulations. It seems to be startling that the Yuan has been strengthening for almost a year, from May 2020 until now. The USDCNH declined to 6.36, bringing the Chinese currency to three year highs. It seems like the People’s Bank of China went against its own convictions by allowing the Yuan to constantly grow stronger.
21 May 2021 08:39

Mark Goichmann

Markets seem to have quickly recovered in the second half of Thursday after the stress caused by surprising revelations in the minutes released from the latest meeting of the Federal Open Market Committee (FOMC). on Wednesday. The statements by the Federal Reserve (Fed) after the meeting on May 19 were solid it their position that ultra-soft monetary policy would remain in place until 2023 at least. But, FOMC minutes presented a slightly different picture as some of its members stated the opinion that the Fed should begin to reconsider the tapering of bond purchasing at some point.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.