Thursday, March 30, 2023
HomeForexMarket Replace – July 22 – ECB Goes Giant

Market Replace – July 22 – ECB Goes Giant

USDIndex continued to say no testing 106.25, ECB stunned with Hawkish 50bp fee hike lifting charges above 0 (first hike since 2011) and lifting Euro. US Shares had one other constructive day (NASDAQ +1.36%) TSLA +9.78%, SNAP +5.42% however dropped -24% after hours on Earnings miss AT&T -7.42% & United Airways -10.17%. Asian markets are largely constructive. (Cling Seng -0.01%, Nikkei +0.40%). European FUTS additionally blended. Yields are down -4.78%. Oil bounced from $95.00 trades at $98.00, Gold up $1720, BTC holds over $22k. Gazprom turns the gasoline again on however Europe stays nervous as solidarity is examined, Biden assessments Covid constructive.

  • USDIndex slides additional to check 106.25 earlier than bouncing to 107.25 assist as EURO rally cools.  
  • EquitiesUSA500 closed +0.99%, 39.00pts (3998), US500FUTS at 3884 now.
  • Yields 10-year yield decrease into shut at 2.91, trades at 2.915% now. 
  • Oil & Gold had unstable periods final week – USOil trades up from $95 to check $98.00. Gold assessments $1720 now from $1680
  • Bitcoin rallied to $23.8K yesterday and holds $22k now, on extra chatter of main investments coming.
  • FX MarketsEURUSD stays pressured however examined 1.0280 yesterday & again to 1.0142 now and USDJPY is down once more to 137.58 now. Cable examined again to 1.2000 & again down ti 1.1913. Race to be new PM is decreased to 2 contenders this week. New PM Sept 5.

In a single dayUK Retail Gross sales and PMIs from  Europe, Germany, UK and US.

Right now: UK & US Flash PMIs, UK Retail Gross sales, ECB SPF & CBR Coverage Announcement, Earnings from American Specific, Verizon.

Greatest FX Mover @ (06:30 GMT) AUDUSD (+0.60%). AUD continues to get better from final week’s 0.6680 low and no surprises immediately from RBA Minutes. Subsequent resistance 0.6850 & 0.6900. MAs aligned increased, MACD histogram & sign line increased, RSI 67 & rising, H1 ATR 0.00124, Every day ATR 0.00908.

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Stuart Cowell

Head Market Analyst

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