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[QUOTE="HFM, post: 253263, member: 46567"] [B]Date : 17th June 2022. Market Update – June 17 – Deeply underwater. USD[/B] drifted ([B]USDIndex[/B] 103.15) thanks to the hawkish SNB and BoE, and the potential for a shift from the BoJ. However, the [B]BoJ[/B] eventually left policy on hold & maintained its ultra-low rate settings today, despite looking increasingly like the odd one out. Yen sinks. [B]Stocks were crushed, [/B]hit by the [B]surge in yields [/B]([B]NASDAQ[/B] -4.4%, [B]Dow[/B] -2.4% &[B] S&P[/B] -3.25%). [B]Weakness in tech[/B] also weighed on USA100. [B]VIX[/B] rose to an intraday high of 34.43, but dipped to 33.44 late in the day, versus Wednesday’s 29.62. Treasuries are rallying and[B] yields [/B]are now richer ([B]2-year[/B] declined to 3.10%, [B]10-year[/B] at 3.25%. They were as high as 3.39% and 3.49% on the day). European leaders back Ukraine’s bid to apply for EU membership. [LIST] [*] [LIST] [*]US mortgage rate surged 55 bps to 5.78%, the biggest weekly jump since 1987. [*]US housing starts plunged -14.4% to 1.549 mln in May, permits fell to 1.695 mln. [*]US Philly Fed index dropped to -3.3 in June, 6-month outlook fell to -6.8. [*]US initial jobless claims slid -3k to 229k in June 11 week. [/LIST] [*][B]USDIndex[/B] rebounded to 104.25 from 103.15. [*][B]Υields 10-year[/B] climbed 5.5 bp to 3.25%. [*][B]Equities[/B] – Nikkei and ASX lost -1.8% today. [B]Elon Musk hints at layoffs[/B] in first meeting with Twitter employees. [*][B]Oil[/B] settled at [B][B]117.50 – [/B][/B]Oil set for weekly loss as traders weigh monetary tightening, although persisting supply tightness and [B]new sanctions on Iran[/B] limited the downside. [*][B]Gold [/B]retested [B]$1856[/B], currently lower at [B]$1845. Platinum and palladium also set for weekly drops.[/B] [*][B]Bitcoin[/B] steadily lower at $20k area. [*]Interest rate differentials between [B]Japan[/B] and the [B]US[/B] will continue to widen, which will keep pressure on the Yen, which at the start of the week was at the lowest level since [B]1998[/B]. [*][B]FX markets[/B] – [B]EURUSD [/B]at 1.0505, [B]USDJPY [/B]back above 134.67,[B] Cable[/B] at 1.2257 from 1.2405 highs. [*]Today: BoE Pill & Tenreyro speeches, EU HICP & Fed Chair Powell speech. [/LIST] [B]Biggest FX Mover[/B] @ (06:30 GMT) [B]CHFJPY [/B](+1.54%) breaks 2013 peak. Intraday, MAs aligned higher, MACD lines extending northwards, RSI 76 & rising. ATR(H1) 0.0524 & ATR(D) at 1.506. [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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