17.06.22 Macro Afternoon
Chris Becker | Jun 17, 2022 16:56
More falling share markets here in Asia to finish the trading week, after another bath of blood on Wall Street overnight, following the rate rises from the BOE and SNB. It was the BOJ turn today, but they kept the rudder steady and didn’t join the rate rise party. The USD remains weak against most of the undollars, with the bounce in the Australian dollar again rolling over at the 70 cent level while Euro has given back some of its big gains overnight. Oil prices are drifting sideways, with Brent crude just above the $119USD per barrel level while gold is failing to follow through on its overnight bounce as its struggles to get off the ropes here at the $1845USD per ounce level:
The economic calendar finishes the week with Euro core inflation prints for May, then a speech from Fed Chair Powell to keep an ear on.
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