Pre Loader

18.10.2022 Market Report


The EUR/USD pair has dropped marginally after printing a day’s high at 0.9853 in the Tokyo session. After a juggernaut rally, the shared currency bulls are facing a corrective move as the US dollar index (DXY) has attempted a rebound move. 


GBP/USD takes the bids to refresh intraday high above 1.1400 heading into early European trading. The pair takes clues from the market’s latest concerns surrounding the Bank of England’s (BOE) next move, as well as the UK’s haywire political conditions.


USD/JPY is keeping its range around 149.00, the highest level in 32 years. The US dollar recovery combined with firmer risk sentiment pushes the pair northwards despite the looming risks of a Japanese FX market intervention and weaker Treasury yields. 


The AUD/USD pair has sensed a fresh buying interest from around 0.6280. The aussie bulls have been underpinned amid a short-lived pullback in the US dollar index (DXY). The pullback move in the DXY terminated around 112.25 and the asset revisited below the round-level cushion of 112.00.


A new day and fresh prospects for NZD/USD. The pair travelled in three levels of rising on Monday and has extended the rally in Asia on the back of the CPI data, falling within touching distance of Friday’s highs around 0.5680.


USD/CAD refreshes intraday top around 1.3740 as markets reassess the week-start optimism amid a lack of data/events, as well as fears of intervention by major central banks. Also exerting downside pressure on the Loonie pair during Tuesday’s Asian session could be the hawkish Fed bets and the softer oil prices, Canada’s key export item.


USD/CHF seesaws around 0.9950, after dropping the most in a fortnight, as bears seek more clues to extend the latest declines during Tuesday morning in Asia.


Oil prices were muted on Tuesday as markets weighed signs of tightening crude supply against increasing fears that a global economic slowdown will erode crude demand this year. 


Gold price (XAU/USD) has sensed selling pressure while attempting to sustain above the immediate hurdle of $1,650.00 in the Tokyo session. The DXY has picked bids around 112.00 after remaining in the grip of bears.

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.