- FX – USDIndex has pulled back to 103.94. EUR rebounded from 1.07 to 1.0739. JPY spiked to 140.92 before reverting to PP at 140.23. Cable up again to 1.2371 but still within range. Turkish lira falls after warnings from Washington regarding Erdogan’s win (as unorthodox policy, characterised by low interest rates, restrictive foreign currency regulations and high inflation will continue).
- Stocks – Wall street, Asia and European Stocks up for the day. JPN225 is at its highest level since July 1990. NASDAQ (+0.5%), Topix and ASX200 both rose about 1%, while Hang Seng and CSI300 are down by 0.3 and 0.6% respectively. NVDA +2.54% unveils more AI products post spectacular result on Thursday and the $184 billion rally. Currently the world’s most valuable chipmaker (worth $939.3 billion). DAX and FTSE 100 futures are up 0.4% and 0.7% respectively.
- Commodities – USOil – extends gains after US officials agree on tentative debt deal, i.e. at 73.60. UKOIL climbed to 77.47.
- Gold – steady ahead of vote in congress for the debt ceiling at $1946.
- Cryptocurrencies – BTC spiked to $28430.
Today – This week the US employment report will help determine whether the FOMC will hike or pause in June. China’s PMIs will give clues on the sputtering economy.
Biggest FX Mover @ (06:30 GMT) BTCAUD (+4.26%) rallied 43519. MAs flattened, MACD histogram & signal line positive but steady, RSI 70 & neutral, H1 ATR 235.56, Daily ATR 988.59.
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Andria Pichidi
Market Analyst
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