Lumber is down 70% in 6 months

The housing sector is witnessing a dramatic slowdown and rising rates. As a result, lumber futures fell by 7% to $450, a level last seen in September 2021 and down nearly 70% from their March peak. In addition, August saw the seventh straight month of existing house sales declines, reaching their lowest level since May 2020.

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Silver skyrockets 🚀

Silver futures are up 8% and hit $20.3 per ounce on the first trading day of Q4 of 2022. Silver is up by almost 15% in just one week.

EU gas prices tumble 9%

Gas prices in Europe are down 9% for the day at €171, far lower than the record highs of €340 in August. Europe managed to replace certain Russian supplies with LNG imports and was able to refill its storage facilities ahead of winter. The amount of gas reserves across Europe is currently at about 87%.

UK natural gas jumps sky-high

UK natural gas reached their highest level in two weeks on Friday, rising by almost 50% to 380. The surge was fueled by increased demand from gas-fired power facilities as a result of slower wind speeds.  As of September 28th, gas storage facilities in the UK were 94.65% full.

WTI Crude oil recovers losses

Worries about limited global supply helped WTI crude futures rise 2% to $80, pulling away from 9-month lows at $76 earlier this week. Hurricane Ian caused a reduction in US crude output of around 190,000 barrels per day, or 11% of the Gulf’s total.

Nord Stream damaged & gas rises

Leaders in Europe thought the two explosions that destroyed the pipelines used to transport Russian natural gas to Europe were intentional. However, some officials accused the Kremlin of being behind the explosions, saying they were meant to be a warning to Europe. Meanwhile, EU gas is up 13% on Wednesday.

EU gas surges by 10%

After four straight days of losses due to concerns about future Russian supply, EU gas futures spiked 8% near €190. This may be due to the Nord Stream report of a pressure reduction at the two lines of Nord Stream and one line of Nord Stream 2.

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Brazilian real gains 4% in one day 🔥

The Brazilian real increased by 4% versus the dollar, trading at about $5.2. BRL strenghtens as investors cheered an unexpectedly close outcome in the first round of the presidential elections. After no candidate receives a majority of more than 50% of the vote, the contest will proceed to a runoff scheduled for October 30.

Silver skyrockets 🚀

Silver futures are up 8% and hit $20.3 per ounce on the first trading day of Q4 of 2022. Silver is up by almost 15% in just one week.

Tesla stock drops 7%

Tesla trades at $246, down 7% in a single day. Looking back, the stock dropped 10.51% over the last four weeks and is down 40% from its all-time high.

EU gas prices tumble 9%

Gas prices in Europe are down 9% for the day at €171, far lower than the record highs of €340 in August. Europe managed to replace certain Russian supplies with LNG imports and was able to refill its storage facilities ahead of winter. The amount of gas reserves across Europe is currently at about 87%.

GBP rises after last week’s turmoil

On the first trading day of Q4, the British pound climbed up near $1.12, returning to levels not seen in nearly two weeks. GBP rose right after the finance minister Kwarteng said he would not cut the top 45% income tax rate for the largest earners.

UK natural gas jumps sky-high

UK natural gas reached their highest level in two weeks on Friday, rising by almost 50% to 380. The surge was fueled by increased demand from gas-fired power facilities as a result of slower wind speeds.  As of September 28th, gas storage facilities in the UK were 94.65% full.

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USD/JPY tests cycle highs near 145
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USD/JPY tests cycle highs near 145

A cautious uptrend is still seen in the USD/JPY pair, despite fears of another BoJ intervention.

Credit Suisse drops 10% amid market speculations

Investors are worried that the spike in credit default swaps may worsen the situation and cause a lot of problems.

A closer look at commodity extraction by fracking

Fracking is a method of gas extraction that has made the US in particular profitable over the last decade. In contrast, many countries in Europe have banned it.
Forex outlook: EUR/USD, CAD/JPY and GBP/JPY ★ Premium This content is only available for registered users - sign up for free now
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Forex outlook: EUR/USD, CAD/JPY and GBP/JPY

The forex market was very volatile last week, creating many trading opportunities. Let's look at three currency pairs and see what they offer.