USD declined (USDIndex 104.38), Equities finished much the way they began the year. Equities extended lower, led by tech, though declines were broadbased amid growth worries. – For the year-to-date, the USA100 plunged -29.5%, the USA500 dropped -20.6%, and the GER40 tumbled -15.3%. Bonds captured a strong bid as June/Q2 came to a close, mercifully ending the worst Q2 for the USA500 in decades. Yields ended up plunging double digits yesterday amid myriad factors, though haven demand and growing concerns over a recession mainly underpinned. Japan Tankan index signaled deteriorating confidence as the fallout from lockdowns in China weighed on sentiment in the second quarter of the year. Oil at 104.54, Gold below 1,800.
- USDIndex climbed to 105.54 but sagged to close at 104.38.
- Equities – USA100 closed with a -1.33% loss, while the USA500 and USA30 were down -0.88% and -0.82%, respectively. European futures are also in the red, as recession fears take hold. JPN225 and ASX lost -1.7% and -0.4%.
- Yields 10-year fell over 12 bps to 2.968% and the 2-year was down 12 bps as well to 2.918%.
- Oil has fallen to $104.54.
- Gold down to $1,795.
- Bitcoin bottomed to 18,531 before turning back above 19K!
- FX Markets – Yen caught a haven bid and outperformed overnight, with USDJPY correcting to 134.67, although the USD gained against most other currencies. AUD and NZD were under pressure, EURUSD little changed at 1.0484 and Cable at 1.2121.
Today – Today’s data include Eurozone’s HICP and US ISM Manufacturing.
Biggest FX Mover @ (06:30 GMT) GBPAUD (-0.89%) rallied to 1.7786 (up by 177 pips). However, now MAs are aligning flattened, MACD lines remains positive while RSI is at 89. H1 ATR 0.0031, Daily ATR 0.0158.
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Andria Pichidi
Market Analyst
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