forex.pm forex forum binary options trade

USD cools from recent highs, Stocks stall their decline after Monday rout (NASDAQ -4.29%), Yields hold at highs with 10-yr over 3.00%. Gold and Oil both slumped as risk-off rattled markets CB tightening and rising inflation fears continuing to spook sentiment.  Asian markets weaker (Nikkei -1.00%) and European Futures all weaker.

¹

• USDIndex tested new at highs at 104.20 yesterday back to 103.60 now.


• Equities – USA500 -132 (-3.20%) at 3991, first close below 4k since March 2021. US500FUTS at 4022 now.


• Yields moved higher, 10-yr closed at 3.079%, holding key 3.00% level.  Trades at 3.054% now  


• Oil & Gold both had weak & volatile session –  USOil tested down to $100.00 before reversing to $102.20 now from opening trades over $109.00. Gold slumped from  $1885 zone to $1850 yesterday and struggles at $1860 now.


• Bitcoin crashed through $30K struggling with $32K now.  


• FX markets – EURUSD up from 1.0500 to 1.0560, USDJPY holds over 130.00, at  130.40 and Cable continues to struggle – 1.2260 lows were tested yesterday, back to  1.2325.   

Overnight Fed’s Kashkari : Reiterates confidence that inflation will return to Fed’s 2.0% target &  Fed’s Bostic: 50 bps hike was an aggressive move, Fed can stay at that pace, 75 bps rate hike is low probability.

Today – German ZEW, Speeches from Fed’s Williams, Waller, Bostic, Barkin, Kashkari, Mester, ECB’s de Guindos & BoE’s Saunders, Earnings from Bayer, Porsche, Norwegian Cruise Line & Warner Music.

Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.35%) Rallied from lows at 89.70 to over 91.20 highs (resistance) today. MAs aligning higher, MACD signal line & histogram moving higher but remain weak, RSI 44, but rising, H1 ATR 0.33, Daily ATR 1.60.

¹https://finviz.com/

Click here to access our Economic Calendar

Stuart Cowell

Head Market Analyst

Disclaimer: 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 Leveraged 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 distribution.