- USDIndex – Exploded higher (on110) ending the 4-day dive. US CPI is much higher than expected. Fed Funds Futures – 34% chance of 100 bp – up from 0% this time yesterday. Inflation may still have peaked, but it is NOT receding as fast as some expected, Inflation is ALWAYS sticky and often takes longer to get under control.
- euros – Trades on 0.9980 now from the test 0.9950 yesterday, 1.0000 resistance.
- JPY The BOJ appears to be conducting rate checks before intervention. USDJPY hit 145.00 yesterday from 142.00 and trades on 143.75 now after the BOJ rant.
- GBP tpassed over 1.1700 yesterday before US data, but fell below 1.1500 to 1.1485 and it holds 1.1500 Now.
- Stocks US stocks had their worst day since June 2020 (S&P500 -4.32% 177 points 3932) Shop FUTS at 3940. NASDAQ worst performance (-5.16%) Asian stock markets fell -2.5%, p European FUTS shows some resilience (-0.4%).
- USOil on the top $89.00 again on Tuesday, turnkey demolition $85.00 pre-recovery level $87.00 Now. The 20-day moving average sits at $89.00.
- Gold – also tested below 1700 dollars of 1730 dollars and it holds 1700 dollars Now.
- BTC – fell from $22.7 height k 19.8 thousand dollars and it holds 20.2 thousand dollars Now.
Overnight and today – British inflation lighter at 9.9% vs 10.0% & 10.1% last month, US PPI, GDP of New Zealand, Speeches from the European Commission’s State of the Union speech & Lane ECB.
The biggest FX Mover @ (06:30 GMT) AUDJPY (-0.87%) BOJ gossip and risk off sentiment lifted the safe haven YEN. Collapsed under 98.00, 97.00 and 96.50. MA alignment below, MACD histogram and signal line negative and bearish, RSI 20.85 & OB, H1 ATR 0.241, daily ATR 0.972.
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Chief Market Analyst
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