03.05.22 Macro Afternoon
Chris Becker | May 03, 2022 17:02
A mixed session here in Asia for risk takers as most of the big stock markets are closed still with the dominating catalyst for the day being the once in a decade rate rise by the RBA, which lead to some oscillation in stock prices but put a light underneath the Australian dollar. Even still, the USD remains super strong against all the majors with Euro and Pound Sterling still under a lot of pressure. Oil markets are steady with Brent crude still indicating a $107USD per barrel level price while gold is slipping again after its big falls overnight, currently at the $1861USD per ounce level, as daily momentum remains highly negative:
The economic calendar is very busy today following the RBA meeting, we’ve got German unemployment then a speech by ECB President Lagarde then US factory orders.
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