Market Overview

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.
13 July 2022 06:43

Mark Goichmann

The Euro has reached parity with the U.S. Dollar for the first time in 20 years, but it seems that the Euro could be on its way down as there are internal reasons why the single European currency could decline while the Greenback could rise further. The Dollar has been rising aggressively over the last couple of months. The U.S. Dollar index (DXY) climbed from 95 points at the beginning of 2022 to 108 points, or 14%, recently. The Dollar is strengthening as the Federal Reserve (Fed) continues to tighten monetary policy by drastically raising interest rates to combat record inflation.
8 July 2022 10:05

Mark Goichmann

The Euro has lost 10% against the U.S. Dollar since the beginning of 2022 and is now close to being on an equal path to the Greenback. This week the single European currency fell dramatically to the 1.01 level, a level, which was lastly seen20 years ago. Traditionally a weaker Euro is considered to be an advantage for the export oriented European economy, and in this kind of a situation the European Central Bank (ECB) normally advocates for the single currency to decline. However, recent realities make this issue more complicated.
28 June 2022 13:34

Mark Goichmann

The gas market in Europe was on alarm recently as prices for July 2022 Dutch TTF gas futures jumped to 133 Euros per MW last Friday. Prices scaled back to 129 Euros on Tuesday, but they are unlikely to reach a deeper correction. Prices surged as Russia significantly reduced gas supplies to Europe during the period when gas was being replenished into gas storages in preparation for the coming winter season. Storages are reported to be filled by 59% of their total capacity, which is a low percentage for this time of the year.
21 June 2022 12:32

Mark Goichmann

Europe is beginning to suffer from the physical shortage of gas. There are many reasons for this that supplement each other. The Freeport LNG Quintana Island liquefaction facility is currently shut down after a gas blast and will not continue its full operation until late 2022. This facility exports around 20% of LNG from the United States that primarily goes to Europe. Gas exports via the North Stream pipeline to Germany have been dramatically cut by 100 million cubic meters per day or 60% of the regular supply.
14 June 2022 11:17

Mark Goichmann

Lead is a toxic metal for humans by its nature. And it seems that now it is also toxic for investments as its price dropped by 3% on the London Metal Exchange this Monday, from $2150 to $2087 per tonne. It is a production metal that is sensitive to economic growth perspectives and, as such, its price significantly dropped  at the beginning of the week after the United States was hit by a huge inflationary shock. Consumer prices rose unexpectedly by 8.6% year-on-year in May after posting 8.3% in April.
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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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