19.05.22 Macro Afternoon
Chris Becker | May 19, 2022 17:15
Asian share markets did relatively well all things considering after last night’s crash on Wall Street, with losses in the 1-2% range, but still looking very shaky as the recent bounceback in correlated risk markets is over before it started. Currency markets are seeing more ground lost to USD as the Australian dollar has slipped back below the 70 level on today’s unemployment print. Oil prices are trying to clawback the previous session losses with Brent crude now hovering just above $109USD per barrel while gold is struggling as it remains anchored at the $1800USD per ounce level. Meanwhile Bitcoin looks like rolling over again, barely hanging on just above the $29K level, ready to break below key monthly support again:
The economic calendar lightens up tonight, with US initial jobless claims the only big ticket item to watch.
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