USDIndex continued to say no testing 106.25, ECB shocked with Hawkish 50bp charge hike lifting charges above 0 (first hike since 2011) and lifting Euro. US Shares had one other constructive day (NASDAQ +1.36%) TSLA +9.78%, SNAP +5.42% however dropped -24% after hours on Earnings miss AT&T -7.42% & United Airways -10.17%. Asian markets are principally constructive. (Cling Seng -0.01%, Nikkei +0.40%). European FUTS additionally blended. Yields are down -4.78%. Oil bounced from $95.00 trades at $98.00, Gold up $1720, BTC holds over $22k. Gazprom turns the fuel again on however Europe stays nervous as solidarity is examined, Biden assessments Covid constructive.
- USDIndex slides additional to check 106.25 earlier than bouncing to 107.25 assist as EURO rally cools.
- Equities – USA500 closed +0.99%, 39.00pts (3998), US500FUTS at 3884 now.
- Yields 10-year yield decrease into shut at 2.91, trades at 2.915% now.
- Oil & Gold had risky periods final week – USOil trades up from $95 to check $98.00. Gold assessments $1720 now from $1680.
- Bitcoin rallied to $23.8K yesterday and holds $22k now, on extra chatter of main investments coming.
- FX Markets – EURUSD stays pressured however examined 1.0280 yesterday & again to 1.0142 now and USDJPY is down once more to 137.58 now. Cable examined again to 1.2000 & again down ti 1.1913. Race to be new PM is decreased to 2 contenders this week. New PM Sept 5.
In a single day – UK Retail Gross sales and PMIs from Europe, Germany, UK and US.
At this time: UK & US Flash PMIs, UK Retail Gross sales, ECB SPF & CBR Coverage Announcement, Earnings from American Specific, Verizon.
Largest FX Mover @ (06:30 GMT) AUDUSD (+0.60%). AUD continues to get better from final week’s 0.6680 low and no surprises at present from RBA Minutes. Subsequent resistance 0.6850 & 0.6900. MAs aligned greater, MACD histogram & sign line greater, RSI 67 & rising, H1 ATR 0.00124, Each day ATR 0.00908.
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Stuart Cowell
Head Market Analyst
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