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13.10.2022 Market Report


EUR/USD has slipped to near 0.9700 as a rebound in the risk-off impulse has weighed pressure. As per CME FedWatch tool, chances for a 75 bps rate hike have sky-rocketed to 84%. ECB policymaker is looking to exploit interest rates further to support quantitative tightening.


GBP/USD grinds lower while paring the bounce off two-week low. UK Chancellor Kwarteng passes the buck to BOE if British markets collapse next week. Challenges to sentiment, hawkish Fed bets keep bears hopeful ahead of US CPI.


The USD/JPY pair is displaying a lackluster performance in the Asian session as investors are awaiting the release of the US Consumer Price Index (CPI) data. The asset is oscillating in a narrow range of 146.67-146.90 and is expected to continue the rangebound performance. The risk profile is turning quiet amid the absence of volatility in the market.


AUD/USD treads water around 0.6280, despite refreshing the intraday high, as traders await the key US inflation data during early Thursday. In doing so, the Aussie pair ignores recently downbeat data from home, as well as hawkish Fedspeak.


The NZD/USD pair is displaying topsy-turvy moves in the early European session as investors have shifted sideways ahead of the US inflation. Considering the worth of September’s inflation report, investors are going light and will prefer to make an informed decision post-release. The risk profile has been muted as volatility has contracted dramatically.


The USD/CAD pair trades with a positive bias through the Asian session on Thursday and remains close to its highest level since May 2020 touched earlier this week. This marks the fourth successive day of an uptick – also the sixth in the previous seven – and is sponsored by this week’s slump in crude oil prices, which tend to undermine the commodity-linked loonie.


The USD/CHF pair has sensed a fresh demand from around 0.9960, however, further upside needs to pass many tests. As the risk impulse displays mixed responses ahead of the US Consumer Price Index (CPI) data, a restrictive movement is getting more traction.

CRUDE OIL– Oil prices moved little on Thursday, keeping to their weekly lows as markets hunkered down before key U.S. inflation data due later in the day, while a worsening outlook for crude demand kept sentiment muted. 


Gold price takes offers to renew intraday low as it reverses the previous day’s bounce off weekly low ahead of the key US CPI. The metal’s latest weakness could be linked to the hawkish bias over the Fed’s next move.

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