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06.10.2022 Market Report

EUR/USD EUR/USD is making minor recovery attempts just above 0.9900 heading into the European open, as the dollar licks its wounds following the steep drop seen in the US last session. GBP/USD GBP/USD has witnessed a minor pause while advancing towards 1.1400. The risk-on impulse is still solid and S&P500 is holding gains. Fitch Ratings have revised the BOE sovereign outlook to Negative from Stable. USD/JPY The USD/JPY pair is displaying topsy-turvy moves in the Tokyo session as the risk-on impulse is defending the downside

05.10.2022 Market Report

EUR/USD EUR/USD is turning south towards 0.9950 after meeting fresh supply just below the parity mark. The broad US dollar rebound is aiding the renewed downside in the main currency pair. GBP/USD GBP/USD is eyeing weakness to near 1.1400 as a corrective move, however, the upside remains favored. Pound bulls have been strengthened after the UK govt. rollback the tax reduction memorandum. USD/JPY The USD/JPY pair has turned sideways around 144.20 after witnessing a responsive buying action from 143.60 as the US dollar index (DXY)

04.10.2022 Market Report

EUR/USD EUR/USD is defending minor bids above 0.9800, benefiting from a broadly subdued US dollar and a better market mood. Weak US ISM Manufacturing PMI weighed down on the dollar. Eurozone PPI, Fedspeak and Lagarde eyed.  GBP/USD GBP/USD is rising back above 1.1300, as the recovery gains momentum amid risk flows and a broad-based US dollar weakness. GBP bulls continue to draw support from the UK government’s U-turn on the higher tax rate cut. USD/JPY The USD/JPY pair displays a lackluster performance after picking bids to

03.10.2022 Market Report

EUR/USD EUR/USD is trading above 0.9800 in early European hours, helped by a broad sell-off in the US dollar and return of risk-on flows. Although the pair’s further upside appears elusive amid the deepening European energy crisis and growth fears. PMIs awaited.  GBP/USD GBP/USD is posting sizeable gains above 1.1200, sitting at weekly highs at the start of the week. The pound catches a fresh bid following reports that UK PM Truss is considering reversing higher income tax rate cuts. PMIs coming up next.  USD/JPY The USD/JPY

30.09.2022 Market Report

EUR/USD EUR/USD stays relatively quiet above 0.9800 during the European trading hours on Friday after having registered strong gains in the previous two days. Investors await HICP inflation data from the euro area and the Personal Consumption Expenditure Price Index data from the US. GBP/USD Following Thursday’s impressive upsurge, GBP/USD trades in a relatively tight range above 1.1100 early Friday. The data from the UK revealed that the GDP grew at an annualized rate of 4.4% in the second quarter, compared to

29.09.2022 Market Report

EUR/USD EUR/USD sellers are up and roaring as sour sentiment joins firmer yields to renew the downside during early Thursday, after a day full of surprises and positive performance. Germany’s HICP may not impress pair buyers unless US GDP disappoints. GBP/USD GBP/USD is expected to resume its upside journey after concluding its correction to near 1.0800. To revive UK’s financial stability, the BOE announced a bond-buying program worth GBP 65 billion. Does BOE really not have the stomach to fight inflation while simultaneously

28.09.2022 Market Report

EUR/USD EUR/USD takes offers to refresh multi-year low during seven-day downtrend. US Treasury yields rally to fresh cycle highs amid fears of economic slowdown, hawkish central banks. Energy crisis in Eurozone joins fears of more drama on the Russia-Ukraine issue to keep bears hopeful. GBP/USD GBP/USD remains on the back foot while reversing the previous day’s corrective bounce, taking offers near 1.0630 during early Wednesday morning in Europe. The Cable pair respects the US dollar’s latest run-up amid the rush for risk

27.09.2022 Market Report

EUR/USD EUR/USD prints the first daily gains in six around 20-year low. Markets consolidate recent moves amid light calendar, mixed headlines. Hawkish central bankers, energy crisis keeps bears hopeful despite immediate rebound. GBP/USD GBP/USD reverses the previous day’s heavy losses as it bounces off the all-time low to 1.0780 during early Tuesday morning in Europe. In doing so, the Cable pair renews intraday high while also snapping the five-day downtrend. USD/JPY The Japanese yen tumbled to a low of 145.90 against the US dollar.

26.09.2022 Market Report

EUR/USD EUR/USD fades bounce off the recently flashed 20-year low of 0.9553, around 0.9630 heading into Monday’s European session, as bears keep reins amid a broad risk-off mood. ECB’s Lagarde, Germany IFO numbers eyed for intraday directions. GBP/USD GBP/USD remains mostly inactive after declining to the all-time low. Doubts over UK’s fiscal stimulus to generate economic benefits, Russia-Ukraine woes led the bears. Hawkish Fedspeak, firmer US data also exerted downside pressure on the cable pair. USD/JPY USD/JPY renews intraday high around 143.60 as Tokyo opens

23.09.2022 Market Report

EUR/USD EUR/USD is dropping towards 0.9800 heading towards early European morning, as the US dollar is regaining the upside traction amid a dour mood. Investors await preliminary PMis from across the Euro area economies and the US for fresh trading impetus.  GBP/USD GBP/USD is trading pressured below 1.1250 in early Europe, undermined by a renewed uptick in the US dollar. Risk-off sentiment combined with firmer Treasury yields propel the dollar. All eyes are on UK/US PMIs in the aftermath of the Fed and BOE