https://forextk.com/wp-content/uploads/2022/09/BRENT.png 1600 2000 TK Analysis https://forextk.com/wp-content/uploads/2022/07/logo-white-300x151.png TK Analysis2022-09-09 11:37:472022-09-09 11:38:22DAILY ANALYSIS 9 September 2022
- US indices finished yesterday’s session higher as investors digested latest hawkish comments from FED Chair Powell. S&P 500 rose 0.66%, Dow Jones moved 0.61% higher while Nasdaq added 0.60%. Russell 2000 jumped 0.56%
- Indices from Asia-Pacific traded higher today. Nikkei gained 0.60%, S&P/ASX 200 rose 0.68% while Kospi added 0.33%. Indices from China traded higher.
- DAX futures point to a slightly higher opening of the European cash session
- Japan’s finance minister Suzuki said is not ruling out any options on Forex market, while BOJ governor Kuroda said he will watch FX moves carefully, sparking speculations about potential BOJ intervention
- Honda is planning to reduce car output by up to 40% at two Japanese factories for the rest of the month.
- China CPI for August rose to 2.5% from 2.4% YoY (expected 2.8%)
- UK retailers reported the slowest growth in sales since the end of COVID-19 lockdowns
- The Biden administration is weighing an executive order to screen and possibly restrict U.S. overseas investment in China, according to WSJ
- Yellen believes that lower gasoline prices may reduce the CPI rate in August
- Credit Agricole CIB Research argues that it would be premature for the SNB to resume its intervention against CHF strength around current levels.
- Cryptocurrencies are trading sharply higher today. Bitcoin jumped over 6.0% and Ethereum gained nearly 5.0% amid lack of strong catalyst.
- Oil is trading over 0.60% higher. WTI approaches $84.00 per barrel while Brent is testing $89.70 mark
- Upbeat moods prevail on the precious metals market. Gold gains 0.70% and silver jumped 1.70%
- JPY and AUD are the best performing major currencies while CAD and USD lag the most
USDJPY pair fell below the 143.00 level amid rising expectations of BOJ intervention.