Date : 25th May 2022.Market Update – May 25 – Stocks Volatile, USD Stable, NZD Surges.
Trading Leveraged Products is risky
USD slipped again, but is stable today (USDIndex 102.00), weak global PMI data & US data missed and Powell adding to rate hike expectations meant Stocks had another volatile session (SNAP lost -43%, and other big tech stocks hit NASDAQ -2.35%) Yields down as treasuries firmed. Asian markets mixed (Nikkei -0.26%) RBNZ raised by 50bps & Gov. Orr had more hawkish outlook than expected (rates to 4%?) NZD surged. NK tested a range of missiles as Biden left Asia, Zelenskiy says Donbas situation critical.*
USDIndex down to 101.64 yesterday back to 102.00 *
Equities – USA500 -32 (0.81%) at 3941, US500FUTS at 3962 now. Snap lead some huge declines.
Yields down, 10-yr closed at 2.76%, now 2.77% *
Oil & Gold both had positive sessions – USOil back up to test $111 Gold holds $1860 today, down from $1870. *
Bitcoin rotates through $30K – but under today at $29.8k.*
FX markets – EURUSD up to test 1.0750, holds 1.0700, USDJPY down to 127.00, Cable up to 1.2540. NZD off 5-week low at 0.6515Overnight
– Hawkish RBNZ, German Gfk missed, French Consumer Confidence missed.Today
US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.Today
– US Durable Goods, FOMC Minutes, ECB Financial Stability Review, Speeches from ECB’s Lagarde, Lane, Panetta, Fed’s Brainard.
Biggest FX Mover @ (06:30 GMT) EURNZD (-1.02%) Tanked from 1.6650 to 1.6425 on Hawkish RBNZ. MAs aligning lower, MACD histogram turned negative crashing signal line RSI 29, OS & falling, H1 ATR 0.0043, Daily ATR 0.01413.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.
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