- USDIndex – volatile day – new 20-yr highs at 109.20 declined to 108.00 after weak PMI & Housing Data before Kashkari “biggest fear is inflation will be more persistent”.
- EUR – Weighed by weak PMI & energy crisis and 3 day shutdown of Nord Stream 1, 3rd day under Parity (1.000) at 0.9940.
- JPY holds between 137.00 & 136.00
- GBP also weighed by weak PMI data, energy crisis, weak government & widening strike action.Trades at 1.1800
- Stocks US stocks flat into close. (S&P500 -9.26pts (-0.22%) 4128) – Biggest movers – Oil stocks +4-6%, TWTR -7.32% & ZM -16.45%.
- Oil continued to rally, moved +4% Tuesday to $94.00 following Saudi “CUTTING production” comments.
- Gold – support at $1736 trades at $1745
- BTC – ranging between 21k & 21.5K.
Overnight – Asian equity markets fell for an eighth straight day. European FUTS also lower.
Today – US Durable Goods.
Biggest FX Mover @ (06:30 GMT) AUDJPY (-0.45%). Rejected 94.80 again yesterday and trades under 94.40 now. MAs aligning lower, MACD histogram negative & signal line falling, RSI 40.36 & falling, H1 ATR 0.153, Daily ATR 0.96.
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Stuart Cowell
Head Market Analyst
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