Market Overview

23 December 2021 12:58

Mark Goichmann

The U.S. Dollar has been vulnerable to investors’ mood swings over the last few days. The U.S. Dollar index (DXY) was breaking the limits in the beginning of the week, but lost ground at 96.7 points as omicron-variant risks appeared to be milder than previously expected. The DXY index fell to 96 points on Thursday despite positive developments in the U.S. economy that grew by 2.3% year-on-year in Q3 2021 vs the expected 2.1%. Consumer confidence in December rose to 115.8 points vs the expected 110.8 points and the previous 111.9 points.
17 December 2021 10:01

Mark Goichmann

The parade of meetings of the major central bankers this week marked the end of the ultra-low monetary policy. However, even after the U.S. Federal Reserve (Fed) had made a decision to accelerate tapering, few had expected the Bank of England (BoE) to be more insolent. The U.S. watchdog increased tapering from $15 billion to $30 billion amid the sky-high inflation rate of 6.8% that has not been seen since 1982. The interest rate in the United States is expected to be raised in 2022. The inflation in the United Kingdom hit 5.
7 December 2021 14:08

Mark Goichmann

Palladium is not just a risky asset that is closely following the negative and positive news, but it is also an industrial metal that is widely used in the automobile industry to produce catalysers for combustion engines. While the industry has been suffering in recent months due to decreases in the demand and supply chain disruption, palladium output went up by more than 500,000 ounces this year alone as production recovered in South America. This forced palladium prices to drop from their peak at $3000 per ounce in May to $1700 in November.
3 December 2021 09:02

Mark Goichmann

The Australian economy is looking stronger according to October data released this week. Exports in October declined by 3% month-on-month compared to 6% in the previous month despite continuous tension with China, while retail sales were up by 4.9% against 1.3% in September. It seems that the Australian economy is compensating for some export losses from China with growing domestic demand. This is confirmed by rising Q3 GDP that was up by 3.9% against 3% expected by analysts. Such developments may attract elevated interest to the AUDUSD.
24 November 2021 07:59

Mark Goichmann

This week has started out unexpectedly dramatic for gold prices as they plunged by 3.1% to $1795 per troy ounce from $1850. This was strongly correlated with the rise of the U.S. Dollar amid expectations of faster tapering of the bond purchases program from the Federal Reserve (Fed) after Jerome Powell was reappointed for a second term by U.S. President Joe Biden. Mr. Powell, who was appointed as the Fed’s watchdog by Donald Trump, is set to hold this position until  January as   his renomination for the second term seemed not to be certain.
19 November 2021 08:12

Mark Goichmann

The Turkish Lira has performed a record weakening after the central bank of Turkey cut its one-week repo rate to 15% from 16%. USDTRY immediately soared to an all-time high above the 11.00 level. The Central bank’s decision might seem to be astonishing, but it is in line with the seemingly obvious moves that have been made amid pressure from Turkish President Recep Tayyip Erdogan. Turkey is experiencing enormously high inflation which is around 20%.
29 October 2021 05:53

Mark Goichmann

The Q3 daunting GDP figures in the United States managed to cause the Dollar to slump as the American economy added just 2%. This is compared to the expected 2.7% and the amazing 6.7% in the Q2, 2021. This is quite a disappointing slowdown that poses risks to the economic recovery of the largest economy in the world. It is significant to point out that  these figures were released just ahead of the Federal Reserve’s (Fed) meeting on November 2-3, that should decide on the gradual tapering schedule. Such fears of the slowing down of the U.S.
19 October 2021 13:14

Mark Goichmann

Cooper, an industrial metal of high-demand, is receiving multiple upside signals. The metal rose by 11% from $9400 to $10,400 per ton on the London Metals Exchange on October 13-19. Also, an important $10,000 resistance was easily broken as the trend is currently pointing towards $10,800 per ton. There are many reasons for this rally. The demand rose dramatically as global economies are recovering. But the supply is struggling as fuel prices peaked to record highs, pushing energy prices above all expectations.
13 October 2021 13:06

Lysakov Sergey

The second half of October on Wall Street began with a moderate decline in average stock prices, but the S&P 500 broad market index was kept within the same range mostly above the 4,270-4,300 support area. Inflation worries were noticeable ahead of a fresh U.S. consumer price index (CPI) which will be released today, although it has already become clear that the Federal Reserve (Fed) has a tendency to focus more attention on job targets and has a more "wait and see" kind of approach when it comes to growing inflation.
8 October 2021 08:25

Mark Goichmann

Gold has been acting more like an alternative to the Dollar rather than a safe haven asset this year, and now it is acting more like risky assets. Such a transformation is due to the unprecedented stimulus package from the U.S. Federal Reserve (Fed). The fact that there is more money in the market at a time when interest rates are low, creates a situation in which gold prices are being pushed up as part of this money is being used to buy gold assets. While gold is acting more like a risky asset, the U.S. Dollar may be seen to be acting like a safe haven asset.
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