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Morning wrap (24.06.2022)

  • US indices finished yesterday's session higher. S&P 500 gained 0.95%, Dow Jones rose 0.64 and Nasdaq added 1.62%
  • Indices from the Asia-Pacific region traded higher today. Nikkei gained 1.15%, S&P/ASX 200 added 0.33% and Kospi jumped 1.93%. Indices from China traded 0.5-1.75% higher. 
  • DAX futures point to  higher opening of the European cash session
  • Goldman Sachs is waiting for the US NFP to buy yen
  • Japan services PPI 1.8% y/y (prior 1.7%)
  • Japan CPI data for May: Headline 2.5% y/y (expected 2.9%)
  • According to ANZ "traffic data in China suggests demand is improving" 
  • EIA announced that update on weekly DOE oil inventories report will be published on Monday
  • Brent and WTI trade slightly above the flat line. 
  • Cryptocurrencies trade higher on Friday morning. Bitcoin approaches  $21,000 and Ethereum managed to return above $1100
  • Precious metals trade mixed - gold a drop while silver and platinum gain
  • NZD and AUD are the best performing major currencies while USD and CHF lag the most

GOLD is testing a major support zone in the $1823 area. If sellers manage to break below the upward trendline, downward move may accelerate towards next support at $1760, which coincides with 78.6% Fibonacci retracement of the upward wave launched in March 2021. Source: xStation5

Daily summary: Dollar continues to strengthen, EURUSD and GBPUSD 1% on the downside
Stock of the week - Bed Bath & Beyond (18.08.2022)
Massive drop in US gas inventories!
DE30: Setback in the short-term upward trend
BREAKING: US jobless claims unexpectedly fall back to 250k