Market Overview

22 November 2022 13:27

Mark Goichmann

Inflation data for the leading developed countries continues to guide investors’ sentiment as this information is considered to be a key indication for central banks in term of how they may adjust their monetary policies. The Producer Price Index (PPI) in the United States slowed down to 8% year-on-year in October against 8.4% a month before. This data contributed to the enthusiasm already established by the sensationally lower Consumer Price Index (CPI) at 7.7% for the previous month. However, the joy was short lived as European prices continue to post records.
16 November 2022 09:09

Mark Goichmann

Sudden lower inflation in the United States in October continues to make markets anxious as there seems to be very little room for false hopes on the heels of the Federal Reserve’s (Fed) promise to continue to raise interest rates despite lower inflation figures. The Consumer Price Index (CPI) dropped to 7.7% beating the forecast of 8% and 8.2% for the previous month. The S&P 500 broad market index soared by 7% to 4000 points by the middle of November. The U.S. Dollar index (DXY) crashed by 4% to 106 points from the 110.2 points position where it sat before the publication. U.S.
1 November 2022 13:47

Mark Goichmann

Chinese stock indexes dropped significantly over recent months. The CSI 300 index has lost 30% over the last ten months ending October at 3503 points, the lowest since March 2020. The Hang Seng index which mainly hosts mainland Chinese corporations dropped by 40% to reach 14843 points, the lows of 2009, while the Shanghai Composite index declined by 21% to reach 2888 points. Global downside drivers for stocks are affected by specific Chinese factors that are getting even stronger recently.
26 October 2022 08:29

Mark Goichmann

Two major events which hit the money market recently are key to understanding the actions of the major central banks and further market developments. Namely, these events are the resignation of the British Prime Minister and possible market interventions by the Bank of Japan (BoJ). The British Pound rose from all-time lows from 1.0600 to 1.13000. At the crack of the tax reform in the United Kingdom, the Bank of England (BoE) was forced to perform temporary quantitative easing to prevent a full-scale debt crisis.
20 October 2022 12:58

Mark Goichmann

The Swiss Franc has reached the long-awaited parity with the U.S. Dollar that has been strengthening across the market since September. But now the USDCHF has stopped after beating this psychologically strong resistance level. The pair has been at this level four times over the last decade but has never gone this far since the pandemic. It is now moving inside the narrow range of 1.001-1.007. This is the range that the Franc is testing for a third time this year and it may be successful this time. However, for now the pro and con factors have seemingly found a balance. The U.S.
13 October 2022 15:53

Mark Goichmann

Recent September inflation data in the United States excited markets as consumer prices are slowing down unwillingly. The Consumer Price Index (CPI) came out at 8.2% year-on-year beating the forecasted 8.1% and slightly below the previous 8.3% in August. Investors were disappointed that inflation isn’t slowing down enough. More importantly the Core CPI rose to 6.6% year-on-year beating the estimated 6.5% and the previous 6.3%. The core CPI excludes food and energy prices that were suggested to be the main reason for price spikes.
5 October 2022 08:41

Mark Goichmann

The U.S. Dollar index (DXF) chart has formed a “Falling star” pattern on a weekly timeframe. Keeping in mind that the Greenback has been on a steady uphill climb for the last 18-months, this downward spiral may suggest that the star is falling. The Dollar index surged to star highs at 114.7 points from 104.5 points in August, closing last week at 112.1 points, and is now continuing down below 111 points this week.
27 September 2022 18:12

Mark Goichmann

Gas prices in Europe are less affected by the levels of gas reserves as gas storage facilities are 87.4% full as of September 24. The summer heat and drought have passed after the rainy season has arrived across European countries. Nevertheless, gas reserves were planned to be increased to 90-95% to enable Europe to securely see the cold winter season through. All these factors have pulled gas prices down from August peaks of €349.90 per MWh for November Dutch TTF Gas Futures.
23 September 2022 09:01

Mark Goichmann

The Singapore Dollar is suffering against the U.S. Dollar, just like the other major currencies. The Greenback is gaining steam as the Federal Reserve (Fed) continues its unprecedented interest rate hike cycle. The U.S. monetary regulator has recently upgraded its interest rate by 75 basis points from 2.5% to 3.25% as expected.
6 September 2022 12:49

Mark Goichmann

This week looks rather paradoxical  for the European gas market as it started with October Dutch TTF Gas futures prices surging to €245.92 per MWh from €214.67 per MWh at Friday’s close. This jump was expected as Russia’s Gazprom warned it would not resume gas deliveries via its Nord Stream 1 pipeline after the completion of three days of on-site technical maintenance on the pipe. The only turbine that was under maintenance from September 1 until September 3 was stopped due to oil leaks and is expected to be returned to German Siemens energy, a maintenance contractor.
Market Focus

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.94% 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.
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