Treasury yields closed sharply higher on inflation data and a pick up in Fed fears, a hefty corporate calendar, and upward revisions to Q2 borrowing estimates. US manufacturing sector enters longest contractionary streak since 2009. Stock markets remain choppy in search of direction.
- FX – USDIndex kicked 102.03 in the morning but currently turned lower. USDJPY keep extending gains for the 4th day to 137.70, amid market uncertainty.
- Stocks – The US30 lost -0.14%, while the US500 and US100 were -0.04% and -0.11% lower, respectively. The Nikkei and Hang Seng managed slight gains. #Amazon -3.22%, #Tesla -1.35%, #JPM +2.14%, #Meta +1.19%.
- Commodities – USOil fell to $74.35 as weak economic data from China and expectations of a US interest rate increase weigh on the market.
- Gold – at $1983 after tumbling to $1979 from $2007 yesterday.
- Cryptocurrencies – BTC down to $2774.
Biggest FX Mover @ (06:30 GMT) AUDUSD (+1.09%) spiked by more than 85 pips the past 2 hours. MAs keep rising, MACD histogram & signal line rising, Stochastics at 95 and points higher, all indicating further nearterm positive bias.
Click here to access our Economic Calendar.
Andria Pichidi
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 distributed without our prior written permission.