Live Market Analysis

Get valuable insights on hot economic events and follow through market movements with our Live Market Analysis, prepared by professional analysts at NAGA.
EUR/USD - The Euro Witnesses a Strong Decline
The EUR/USD had originally shown signs of continuing yesterday’s upward trend, however, the price has come under immense pressure over the last 3 hours. The price when looking at the daily performance of the pair shows a decline of 0.24% but the decline over the past 3 hours measures 0.35%.
The SNP500 Loses Momentum
Last week the SNP500 saw a strong bullish trend and recorded its first positive week after a three-week consecutive decline. The price increased by 6.08% and recovered the losses seen in the previous week. However, the price this week has slightly lost momentum.
USD/CAD - Canadian Inflation at a Four Decade High
The US Dollar is gaining against the Canadian Dollar but still moves within a downward trend. The USD/CAD pair is currently only 0.14% higher than Friday’s market close and is struggling to form an official “higher high”. The large swing witnessed within the day is actually against the US Dollar but markets are also waiting for the reaction after the US session opens.
Cryptos - Will the Rebound Last?
In the previous week, the cryptocurrency market managed to form and complete its first bullish week after 3 months of consecutive declines. The price of bitcoin has increased by 6.10% over the past 5 days, Ethereum by 15.79%, and Dogecoin by 25.11%. Overall, the price movement has been positive though it should be noted that most of the gains were seen in a single trading day while the rest of the week saw little volatility.
What is Driving Lira’s Trend?
Exotic currency pairs are thinly traded instruments and therefore more volatile when compared to other currency pairs. One of the characteristics of exotic currency pairs is that they tend to form strong trends. Whereas major and minor currency pairs tend to see trends change more frequently.
Oil Reaches a 6-Week Low
Over the past 24 hours, the price of Crude Oil has reached a 6-week low and is close to completing a 3-week consecutive decline. The price has partially been influenced by technical factors but continues to be driven by certain aspects of the economy and market which we will look at.
EUR/JPY - The Euro Wobbles on Poor PMI Data
The Euro sees the largest decline within a single hour this month, after the Eurozone released its latest PMI (Purchasing Managers Index) reports. The EUR/JPY has declined by 1.05% so far today and has surpassed yesterday’s price lows. When looking at the week as a whole, the price is still higher than the market open, but whether it will stay in the positive zone by the end of the week is now at risk based on the latest data.
GBP/USD - Fed Says it Doesn't Want a Recession
The GBP/USD pair saw both bullish and bearish price movements over the past 24 hours, and continues to look uncertain in terms of its price direction. The price has fallen into a descending triangle pattern which could indicate that the market is limiting trades until further clarity is obtained.
Crude Oil - Biden is Aiming for a Temporary Tax Removal
The latest news from the oil market is that President Biden may aim to remove gasoline tax. However, even with the president looking to protect demand, we continue to see the price of oil declining during today’s Asian and European sessions. This morning, the price of oil declined by 5.77% before finding some minor support. Currently, the price stands 4.5% lower than today’s market open.

Copyright © 2022 – All rights reserved.

NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.

Any trademarks appearing on this website are the property of their respective owners.

The NAGA Group AG is the holding company of various companies, such as NAGA GLOBAL LLC, NAGA MARKETS EUROPE LTD, NAGA Technology GmbH, NAGA Pay GmbH and has a close link with NAGAX Europe OÜ.

RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.

Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.

NAGA Group does not offer its services to residents of certain jurisdictions such as the USA, UK, Belgium, Iran, Canada (including Quebec) and North Korea etc.

Made with ❤️ in Germany
By using this website, you agree to our cookie policy