Market Overview

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.
2 September 2022 10:17

Mark Goichmann

The Swiss Franc has been steadily declining against the U.S. Dollar since the middle of August. Since then, the USDCHF moved up from 0.937 to 0.982, or by 5%. This is primarily related to the strength of the Greenback amid multiple signals from the Federal Reserve (Fed) concerning further monetary tightening to combat inflation which has reached its highest level in the past 40 years. The U.S. Dollar index (DXY) has been gravitating towards its highest levels since the fall of 2002 to reach above 109.2 points. Over this period, the Swiss currency also fell victim to the Greenback.
10 August 2022 08:50

Mark Goichmann

The recent Non-Farm Payrolls report was unexpectedly positive as the U.S. economy created 471,000 new jobs in July compared to 250,000 expected by analysts. The unemployment level dropped to 3.5% from 3.6% a month earlier, or to a minimum since the pre-pandemic levels in February 2020. Hourly average wages rose by 5.2% year-on-year and 0.5% compared to June figures vs expected 4.9% and 0.3% respectively. The U.S. Dollar index (DXY) rose above 106 points. Investors’ optimism was not only fueled by the strong labour market in the United States, but also by the U.S.
4 August 2022 10:54

Mark Goichmann

Crude prices are declining as the global economy is slowing down towards a recession. Brent crude prices dipped from $108 per barrel below $100 after the U.S. Gross Domestic Product (GDP) dropped by 0.9% in the second quarter of 2022 following a contraction of 1.6% in the first three months of the year. The second consecutive quarterly decline of an economy formally means a technical recession.
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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