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HFMarkets (hfm.com): New market analysis services.
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[QUOTE="HFM, post: 209788, member: 32345"] [b]Date : 22nd June 2022. Market Update – June 22 – Stocks rally, USD & Yields hold, Oil & Yen sink.[/b] [URL='https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2020/08/daily-market-update-696x364.png[/IMG][/URL] [B]USD[/B] holds at highs ([B]USDIndex[/B] 104.51), [B]Stocks[/B] closed up over 2% ([B]NASDAQ[/B] +2.51%) – (1) dead cat bounce & another bear market rally or (2) signs of peak inflation and peak Fed bearishness ? (Technicals & Fundamentals still say 1). Asian shares closed lower on rapid spread of new Omicron ([B]Hang Seng[/B] -1.49%) [B]Yields [/B]rheld their gains. [B]Oil[/B] also slumped ([B]Brent[/B] [B]-3.42%[/B]) [B]Gold[/B] & [B]BTC[/B] slide sideways. [B]Biden [/B]expected to announce temp. tax reprieve on gasoline[B], BOJ Mins [/B]confirmed they will ease further if necessary “without hesitation” [B]USDJPY[/B] hits new 24-year high. [B]NZD[/B] hit by weak trade data. [URL='https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-22_09-00-38.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-22_09-00-38.png[/IMG][/URL] [LIST] [*][B]USDIndex[/B] tested 103.72 on Tuesday before rallying to 104.55 now. [*][B]Equities[/B] – [B]USA500[/B] closed +2.45% ([B]3764)[/B], US500FUTS slumped to [B]3719 [/B]now. [*][B]Yields[/B] 10-year yield higher, closed at [B]3.26%[/B] , trades at 3.29% now. [*][B]Oil & Gold [/B]had mixed sessions – [B]USOil[/B] slumped 3% to trade at $104.90. Biden & Omicron news weighed & [B]Gold[/B] could not hold $1830 and trades at $1825 now on higher Yields and stronger USD. [*][B]Bitcoin [/B]continues to pivot around [B]$20K,[/B] test $22K yesterday, back to $20K now. [*][B]FX markets[/B] – [B]EURUSD [/B]hback under 1.0500, [B]USDJPY [/B]hit new [B]24-yr highs[/B] at [B]136.71 [/B]and[B] Cable[/B] trades down to 1.2225 now, following Inflation news, from 1.2325 highs yesterday. [/LIST] Overnight[B] – UK CPI [/B]hits [B]9.1%[/B] inline but up from 9.0% last month, [B]CORE[/B] a tick lighter at [B]5.9%[/B] vs 6.0% & 6.2%, [B]PPI[/B] beat [B]2.1%[/B] vs 1.8% & 2.7% prior and [B]RPI [/B]also hotter at [B]11.7%[/B] vs 11.4% & 11.1% last time. [B]NZ Trade Balance[/B] less than 50% of forecast at . [B]Reuters Poll [/B]Fed Path: 75bp July, 50bp Sept & Oct, and 25bp Nov. (at the earliest). [B]Japanese official[/B] – FX moves against the Yen “not ideal” [HEADING=2][/HEADING] [B]Today – [/B]Canadian CPI, EZ Consumer Confidence, Speeches from Fed’s [B]Powell,[/B] Barkin, Evans & Harker, SNB’s [B]Jordan[/B] ECB’s de Guindos & Elderson, BoC’s Rogers. [URL='https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-22_09-50-31.png'][IMG]https://analysis.hfm.com/wp-content/uploads/2022/06/2022-06-22_09-50-31.png[/IMG][/URL] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]NZDUSD[/B] (-1.18%). Collapsed from test of 0.6360 on Monday & Tuesday to 0.6250, as NZD Trade Balance missed significantly. MAs aligning lower, MACD histogram negative turning lower, RSI 21.25, OS but still falling, H1 ATR 0.00124, Daily ATR 0.00850. [b]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/b] Click [url=https://www.hfm.com/hf/en/trading-tools/economic-calendar.html][b]HERE[/b][/url] to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click [url=https://www.hfm.com/en/trading-tools/trading-webinars.html][b]HERE[/b][/url] to register for FREE! [url=https://analysis.hfm.com/][b]Click HERE to READ more Market news.[/b][/url] [b] Stuart Cowell Head Market Analyst HFMarkets Disclaimer:[/b] This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. [/QUOTE]
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