Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    July 31, 2022

    Weekley Update

     

    foreign exchange market 24 hours baxia markets

    Australia’s inflation rate increased to 6.1% in July

    • The release came slightly short of the anticipated rate, positively impacting the currency.
    • Australia also released the Consumer Price Index that resulted better than expected, totaling 4.9%

     

    The US Fed hiked the Interest Rate, and the GDP growth rate came out negative for the second quarter in a row.

    • The Fed hiked the interest rate 75 bps leaving it at 2.5%
    • Chairman Powell mentioned that a growth slowdown is necessary to restore price stability in the US.
    • The USD lost significant ground across all major currency pairs.
    • The US economy struggled during the second quarter when the economy continued contracting.

     

    EU released the Inflation Rate.

    • The consensus was 8.6%, but the actual results came out higher than anticipated with 8.9% which 
    • EU also announced GDP Growth Rate with a better result than consensus with a 0.7%

     

    Russia cuts down Nordstream 1 supply to 20%

    • After the scheduled maintenance, Gazprom reduced the Natural Gas exports to the EU, which could cause an energetic crisis in Europe and a potential recession to Germany.
    • Politicians in the EU believe that the supply can be cut furthermore during wintertime as retaliation for continued sanctions on Putin's government.

     

    High Impact News Releases

     

    EU will announce the unemployment rate on Monday, and the consensus is that it will stay at 6.6%. S&P Manufacturing PMI data will also be released with an expected decline to 49.6, which is in the economic contraction area. 

     

    The Reserve Bank of Australia will release its Interest Rate decision on Monday; a hike of 50bps is expected by experts, leaving the rate at 1.85%

     

    The UK will announce BoE Interest Rate Decision; a hike of 25 bps is expected Thursday.

     

    The US will release Non-Farm Payrolls on Friday, which is expected to decline from 372K to 255K, likely weakening the USD.

     

    Canada will release the Unemployment Rate on Friday, which is anticipated to stay at 4.9%

     

    We love to hear new ideas from traders and want to know what you think! 

     

    If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.

     

    Submit Your Feedback  

     

    Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

     

    Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

    Subscribe by Email