Market Overview

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.
26 July 2022 14:46

Mark Goichmann

Gas prices in Europe jumped to 197 Euros per MWh after Russia’s Gazprom announced that it is halting another turbine in the North Stream 1 gas pipeline, lowering gas supplies to 20% of the pipeline’s regular capacity. Gazprom also claimed that the first turbine that was sent to Canada for regular annual maintenance has not yet been delivered back. The gas monopoly blamed Western sanctions as the main issue for the inability to restore North Stream 1 to full capacity.
19 July 2022 13:24

Mark Goichmann

The European Central Bank (ECB) will announce its monetary policy decision t on July 21, ahead of the Federal Reserve (Fed) that will have its meeting on July 27. The timing may affect the ECB’s decision, but it may be even more intriguing to see how far both regulators are willing to go. The ECB has to raise interest rates, and it may be the case of the higher the better as it is lagging behind the Fed’s monitoring hiking attempts to combat inflation. Consumer prices in Europe jumped from 2.2% year-on-year in July 2021 to 8.6% now.
14 July 2022 11:24

Mark Goichmann

The New Zealand Dollar or Kiwi is suffering from the record inflation of 6.9%, which has not been seen in the last 30 years. The Reserve Bank of New Zealand (RBNZ) was forced to hike its interest rates to 2.5% from the previously set 2%. Moreover, RBNZ warned that interest rates would reach 3.5% by the end of 2022 and 4.0% in 2023. Such monetary actions usually lead to a strengthening of the national currency. But this does not seem to be the case now as the U.S. Dollar is outweighing the Kiwi as the U.S.
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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