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[QUOTE="HFM, post: 251549, member: 46567"] [B]Date : 8th June 2022. Market Update – June 8 – Wait & See Mode Ahead of US Inflation. USD[/B] moved lower at close but is currently retaking the [B]102.50[/B] level. [B]Stocks[/B] also higher into close ([B]NASDAQ[/B] over 1%) on retailers and energy stocks, [B]Yields[/B] cooled (10yr below 3%), [B]Oil[/B] rallied over 1% to 13-week high on tight supply from private inventories. Yellen persistent high inflation “Unacceptable”. [B]Demand for the safety of Treasuries[/B] picked up after the World Bank slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now face recession. In Asia, a rally in [B]Chinese tech stocks that followed a batch of game approvals helped[/B] to keep stock market sentiment supported overnight, and the [B]Hang[/B] [B]Seng[/B] has gained nearly 2% so far. The CSI 300 is up 0.4%, while ASX and Nikkei lifted 0.4% and 1.0% respectively. [B]Overnight[/B] – JPY GDP beat (-0.1% vs. -0.3%) & Economic Watchers Sentiment better (54.0 vs 51.9), CHF Unemployment in line (2.2%) but German Industrial Production missed significantly (0.7% vs 1.3%). [LIST] [*][B]USDIndex[/B] dipped to [B]102.24[/B] after Target Corp warned about excess inventory and said it would cut prices, offering some relief to those who think inflation may be peaking. [*][B]Equities[/B] – [B]CSI[/B] [B]300[/B] is up 0.4%, while [B]ASX[/B] and [B]Nikkei[/B] lifted 0.4% and 1.0% respectively. [B]GER40[/B] and [B]UK100[/B] futures are posting gains of 0.3% and 0.2% respectively. [*][B]Yields[/B] 10-year yield below the 3% mark helped extend the drop in yields. [*][B]USOIL spiked to [/B]$[B]120.35 [/B]– [B]low oil inventories[/B],[B] Goldman Sacks[/B] – “we now forecast that Brent prices will need to average [B]$135/bbl[/B] in 2H22-1H23 (up $10/bbl vs. prior forecast) for inventories to finally normalize by late 2023, the binding constraint to prices in our view. This represents summer retail prices reaching levels normally associated with [B]$160/bbl[/B] crude prices”. The [B]CEO of global commodities trader Trafigura[/B] said oil prices could soon hit [B]$150[/B] a barrel and go higher this year, with demand destruction likely by the end of the year. [*][B]Bitcoin down to [/B]$[B]30320 [/B]area now. [*][B]FX markets[/B] – [B]USD[/B] is continuing its ascent and [B]USDJPY[/B] is above [B]133.53.[/B] [B]EURUSD[/B] is slightly below [B]1.07[/B] and [B]Cable[/B] is at [B]1.2560[/B]. [/LIST] [B]Today – [/B]EU GDP and Employment change, US Wholesale Inventories and EIA Crude Oil Stocks change. [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]Sugar [/B]([B]-3%[/B]). Dipped below 20- and 50-day SMA. Next key support at 18.60 from the Weekly Chart. H1 MAs aligning lower, MACD histogram sharply down, RSI 24, OS & declining, H1 ATR 0.12, Daily ATR 0.38. [B]Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.[/B] Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. [B] Andria Pichidi Market Analyst HFMarkets Disclaimer:[/B] 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 FX and CFDs 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. [/QUOTE]
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