Pre Loader

22.09.2022 Market Report


EUR/USD is consolidating the rebound above 0.9800 in early European hours. The post-Fed US dollar rally takes a breather, despite risk aversion and firmer Treasury yields. Looming Russia tensions offset hawkish ECB commentary. 


GBP/USD is trading above 1.1250, recovering ground from fresh 37-year lows near 1.1220 in early Europe. Investors resort to position readjustments ahead of the BOE rate hike decision. Hawkish Fed outlook and risk aversion could limit the pair’s upside.


The USD/JPY pair has kissed the critical hurdle of 145.00 for the first time in the past 24 years as the Bank of Japan (BOJ) has kept the interest rates unchanged. A dovish stance was highly expected from the BOJ as it has been failing in spurting the growth rate and inflation. The interest rate is stable at -0.1% despite continuous depreciation in the Japanese yen.


AUD/USD bears attack the 0.6600 threshold while refreshing the multi-month low during Thursday’s Asian session. In doing so, the Aussie pair remains inside a falling megaphone trend widening chart pattern amid the risk-off mood.


NZD/USD takes offers to refresh the 30-month low as it drops to 0.5810 during Thursday’s Asian session. 


USD/CAD grinds higher after refreshing the 26-month peak to 1.3530, near 1.3510 during early Thursday morning in Europe. In doing so, the Loonie pair traces the options market signals amid the risk-averse markets.


USD/CHF grinds lower as sellers flirt with the 0.9650 level heading into Thursday’s European session, after snapping a two-day downtrend the previous day. In doing so, the Swiss currency (CHF) pair traders brace for the Swiss National Bank’s (SNB) monetary policy announcement while paring the Fed-linked gains.


Oil prices extended losses on Thursday after the U.S. Federal Reserve struck a more hawkish tone than expected, raising concerns that heightened interest rates and inflation will weigh on crude demand in the coming months.


Gold price holds lower ground near two-year bottom flashed on Fed day. Risk-aversion, firmer DXY joins downside break of $1,680 level to keep bears hopeful. Multiple central bankers are in line to woo market players, hawkish moves could weigh on XAU/USD.

Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.