06.07.22 Macro Afternoon
Chris Becker | Jul 06, 2022 17:16
A sea of red across Asian share markets despite the somewhat positive overnight lead from Wall Street as traders react to the steep falls in commodity prices and growth fears. The defensive USD is keeping Pound Sterling and Euro at its heels, while the Australian dollar was essentially unchanged after being floored overnight post the RBA rate rise that had been priced in already, remaining depressed right on the 68 cent level. Oil prices are trying to stabilise from their big falls overnight, with Brent crude just above the $104USD per barrel level, while gold is treading water as gold bugs chew their fingers following last night’s flog through what was support at the $1800USD per ounce level:
The economic calendar has some basic construction PMI data first in the European session but then heats up with the latest US non-manufacturing ISM print and the release of the latest FOMC meeting minutes.
Get The App
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.