Market Overview

28 February 2023 16:05

Lysakov Sergey

Decline of Gas Prices in Europe Is Seen to Nearly Be Over

Gas prices in Europe have been hovering around summer 2021 lows since mid-February, gradually edging lower from 52.59 Euros on February 14 to 47.42 Euros per MWh at the end of February. The end of winter and relatively warm weather conditions, together with high gas inventories in Europe, lowered the demand for fuel. The reopening of Freeport LNG in Texas eight months after an explosion in the facility may likely lower import LNG prices for Europe. A strengthening U.S. Dollar and rising Treasuries’ yields may also put pressure on gas prices.

21 February 2023 16:37

Lysakov Sergey

U.S. Economy Developments Supports Dollar and Pressures Stocks

Strong macroeconomic data and persistent inflation in the U.S. has pushed the Dollar up above its established trading range. Stock indices have been reluctant to this move so far. Blistering consumer prices are a real headache for the Federal Reserve (Fed) as they are deliberately slowing down. The Consumer Price Index was recorded at 6.4% year-on-year in January compared to 6.5% in the previous month. The Producer Price Index rose by 0.7% month-on month, well above the previous level of -0.2% and the forecasted 0.4%.

7 February 2023 16:25

Lysakov Sergey

The Dollar Sighs with Vengeance

Investors are paying the penalty for not believing the Federal Reserve (Fed) and its promise to continue monetary tightening. After raising its interest rates to 4.75% from the previous 4.5%, the monetary watchdog has clearly claimed its hawkish plans to continue raising interest rates throughout 2023. That has not impressed investors who were overwhelmed by enthusiasm as the Fed’s Chair Jerome Powell recognised that the pace of inflation has cooled. Many have suggested that this is a victory over inflation, but Powell has clearly indicated that it is too early to say this.

31 January 2023 16:36

Lysakov Sergey

Gold Is Looking Down Ahead of Fed Meeting

Gold has lost its function as a safe haven asset over the course of recent years as its prices have been seen to move in the same patterns as typical risky asset from the start of the pandemic and the beginning of the vast monetary stimulus delivered by major central banks and governments, and foremost by the Federal Reserve (Fed). Cheap money at almost zero rates amplified by stimulus programs mostly affected industrial and energy assets while undermining the low-yield Dollar-denominated debt. Investors were therefore seeking higher returns from other assets, including gold.

24 January 2023 16:11

Lysakov Sergey

Wheat Prices Are Close to the Bottom

Wheat prices usually move in correlation with energy markets as they have many drivers in common. Wheat is a risky asset which is sensitive to the overall risk appetite in the markets and borrowing costs. Wheat prices peaked at $1348 per 100 bushels in February 2022 amid geopolitical tensions, an energy crisis, and blistering inflation. Such high price levels have not been seen since 2008. A war between major wheat producers in Russia and Ukraine greatly contributed to the market rally as wheat production declined and Black Sea export routes were disrupted.

17 January 2023 10:24

Lysakov Sergey

Gas Prices in Europe Fell Below 52-Week Lows amid Stalling Demand

Gas prices in Europe continue to fall this week to extend a downward trend that started in December 2022 when Dutch TTF Gas Futures touched 150 Euro per MWh. By January 17, prices of March futures dropped to 53.605 Euro per MWh. This level is below the 52-week low and may signal a further decline of gas prices. This year gas futures started at 79.4 Euro per MWh and quickly dropped down. The reason for this drop is primarily the deteriorating demand for gas in Europe.

13 January 2023 07:48

Lysakov Sergey

Chinese Yuan Is Gaining Strength Against the Dollar Ahead of Other Currencies

The Chinese Yuan or the Renminbi, as it is otherwise known, is gaining strength against a weakening U.S. Dollar like most of the other world currencies. In this case the Dollar sets the tune as the U.S. Dollar index declined to 102.9 points from 104.9 points at the beginning of January, or by 2%. USD/CNY also dropped by 2% from 6.90 to 6.77 by January 12. The Greenback is weakening mostly on expectations of mild monetary policy moves by the Federal Reserve (Fed), and generally amid a more optimistic sentiment in the market.

20 December 2022 13:06

Lysakov Sergey

Central Banks’ Fight against Inflation

Markets have been moving in a paradoxical manner over the last couple of days despite the slowing down of inflation. The Consumer Price Index (CPI) was down to 7.1% in November after 7.7% in October. But any expectations that the Federal Reserve (Fed) would ease its hawkish monetary policy remain wishful thinking. Further tightening may seem excessive as inflation is going down on its own, while the economy is further discouraged by rising borrowing costs along with the recession risks that make such a mood inevitable.

30 November 2022 08:41

Lysakov Sergey

The Pound Is Waiting for a Downside Opportunity

Until now the month of November has generally been a positive one for the British Pound, as it rose from 1.11 to 1.21 to the U.S. Dollar throughout this month. This week has been no exception. The reason for this upside is related to both the Pound and the Dollar. The Cable was suddenly supported by the Purchasing Managers’ Index (PMI) data in November as the Composite PMI rose to 48.3 points, beating forecasts of 47.2 points. Any readings above 50 points indicate economic expansion, while figures lower than this threshold point to a contraction of local business.

22 November 2022 13:27

Lysakov Sergey

Europe’s Rising Inflation Manages to Sober Up Markets Again

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.

Market Focus

Quotes

Symbol	Bid	Ask	Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.19% 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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