https://forextk.com/wp-content/uploads/2022/08/Untitled-design-2.png 2245 1587 TK Analysis https://forextk.com/wp-content/uploads/2022/07/logo-white-300x151.png TK Analysis2022-08-18 11:20:432022-08-18 11:20:43DAILY ANALYSIS 18 AUGUST 2022
- US indices finished yesterday’s session lower despite dovish FOMC minutes. S&P 500 fell 0.72%, Dow Jones moved 0.50% lower while Nasdaq lost 1.25%. Russell 2000 dropped 1.64%
- Also indices from Asia-Pacific traded mostly lower today. S & P / ASX 200 fell 0.23% while Nikkei lost 0.85%. Indices from China traded lower. Kospi dropped 0.42%
- DAX futures point to a slightly lower opening of the European cash session
- Odds of a 50 bps rate hike in the US next month move up after the FOMC meeting minutes
- Water level at a key waypoint on the Rhine River is forecast to rise above a critical level this weekend, according to Bloomberg
- Goldman Sachs and Nomura cut their forecasts for China’s GDP, to 3% from 3.3% and to 2.8% from 3.3%, each, citing weak July economic data and near-term energy issues.
- US and Taiwan will commence formal negotiation on trade agreement
- Russia has started to gradually increase oil production amid easing sanctions-related curbs and increased purchases from Asian buyers, prompting Moscow to raise its forecast for output and exports until the end of 2025, Reuters reported.
- Russia’s earnings from energy exports this year up 38% on 2021
- OPEC’s secretary Al Ghais forecasts global oil demand rising 3 million bpd by year end
- Australia employment change in July -40.9K (expected +25K), unemployment rate 3.4% (expected 3.5%)
- Cryptocurrencies are trading higher today. Bitcoin rose over 1.3% and Ethereum jumped more than 1.0%
- Oil is trading slightly higher. WTI trades near $ 87.90 per barrel while Brent is approaching $ 93.80 mark
- Mixed moods prevail on the precious metals market. Gold trades 0.25% higher while silver fell 0.40% amid stronger dollar
- JPY and CHF are the best performing major currencies while EUR and GBP lag the mostGold pulled back sharply during yesterday’s session and is currently testing major support at $1760.00
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