Dear Clients,
Tradeo ceased offering trading services last year in May. Trading and ancillary will not recommence, and the brand/platform will be permanently discontinued.

For the clients with remaining balances, kindly send a withdrawal request through your login or via chat or email. If there are any queries or concerns relating to your account or any other matter, please email us at [email protected]


market review 22 June 21

22 June 21

Gold Holds Gain as Powell Reiterates Rising Inflation Won’t Last

Gold held an advance as investors weighed comments by Federal Reserve Chair Jerome Powell, who reiterated that higher inflation will likely be transitory.
Inflation had picked up but should move back toward the Fed’s 2% target once supply imbalances resolve, Powell said in written remarks prepared for his Tuesday testimony before the House Select Subcommittee on the Coronavirus Crisis. Investors will tune in to the hearing for potential questions that shed more light on his view on the pace of the economic rebound and the outlook for monetary policy.
Read more: Powell Renews Forecast for Inflation Subsiding Toward Fed’s Goal
Bullion climbed Monday after its biggest weekly decline in 15 months, helped by a drop in the dollar and robust inflows into gold-backed exchange-traded funds late last week. While gold took a hit after the Fed’s hawkish tilt at its most recent policy meeting, it’s recovering a little as investors weigh the prospects of very gradual tightening.
Spot gold was little changed at $1,784.14 an ounce at 9:14 a.m. in Singapore, after climbing 1.1% on Monday. Prices fell 6% last week, the most since March 2020. Silver retreated, while platinum and palladium steadied. The Bloomberg Dollar Spot Index edged up after dropping 0.4% on Monday.

Oil Up, Brent Tops $75 Mark as Signs of Rapidly Tightening Market Emerge

Oil was up Tuesday morning in Asia, with signs emerging of a rapidly tightening market.
Brent oil futures were up 0.32% to $75.14 by 4:41 PM ET (4:41 AM GMT), after hitting the $75 mark for the first time in more than two years. WTI futures inched up 0.10% to $73.19.
Brent futures have rallied more than 40% this year as countries such as the U.S., China and Europe continue their economic recoveries from COVID-19, thus improving the fuel demand outlook.
Bank of America Corp. (NYSE: BAC) even forecast that the global crude benchmark could hit the $100 a barrel in 2022 thanks to a rebound in travel.
“Demand optimism is now well established, and a tightening of the market is very much in the spotlight… if there is a pause in this rally, it will likely come from the supply side,” Vanda (NASDAQ: VNDA) Insight’s founder Vandana Hari told Bloomberg.
However, ongoing COVID-19 outbreaks in several countries are a grim reminder that fuel demand recovery remains uneven.

Dollar Edges Higher Ahead of Powell’s Testimony to Congress

The dollar stabilized in early European trade Tuesday, after handing back some of the previous week’s gains during the previous session, with traders awaiting testimony from Federal Reserve Chair Jerome Powell in the wake of the central bank’s hawkish turn.
At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 92.002, bouncing after dropping 0.5% on Monday.
USD/JPY was up 0.1% at 110.44, EUR/USD dropped 0.1% to 1.1904, after gaining 0.4% overnight, GBP/USD fell 0.2% to 1.3906, trying to hold on to its overnight bounce, while the risk-sensitive AUD/USD was down 0.3% at 0.7514.
The dollar had gained sharply since Wednesday’s move by the U.S. Federal Reserve, the country’s central bank, to bring forward the median expected starting point for interest rate rises to 2023, a year earlier than previously guided, while also starting to discuss the timetable for reducing the Fed’s massive bond-buying program.
The dollar index gained 1.9% last week, its biggest weekly rise since March 2000, and it was perhaps understandable that traders cashed in some of those gains during Monday’s session.

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services