08.04.22 Macro Morning
Chris Becker | Apr 08, 2022 10:12
While there was more hawkish signals from central banks overnight, namely the ECB, risk sentiment finally stabilised as Wall Street made a few gains after a week of selling. The USD rose slightly against most of the major currency pairs again, continuing to push the USD Index higher although the Australian dollar stabilised somewhat following the post RBA slump. Interest rate and bond markets are still confirming many more rate rises on the way, with the 10 year Treasury lifting again past the 2.6% yield level. Commodities sold off slightly across the board with WTI below $100USD per barrel while Brent crude lost nearly 1%, to remain just above that psychologically important level. Gold firmed to lift slightly just above the $1930USD per ounce level.
Bitcoin continued its selloff, with price pushing down to daily ATR support at just above the $43K level, which takes it back to former resistance, now support at the January and February highs:
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.