https://forextk.com/wp-content/uploads/2022/09/Untitled-design.png 788 940 TK Analysis https://forextk.com/wp-content/uploads/2022/07/logo-white-300x151.png TK Analysis2022-09-21 13:05:372022-09-21 13:10:15DAILY ANALYSIS 21 September 2022
- US indices finished yesterday’s session lower. S&P 500 dropped 1.13%, Dow Jones moved 1.01% lower while Nasdaq fell 0.95%. Russell 2000 plunged 1.36%
- Indices from Asia-Pacific also traded lower today. Nikkei fell 1.25%, S&P/ASX 200 lost 1.6% while Kospi dropped 0.90%. Indices from China traded lower.
- DAX futures point to a slightly higher opening of the European cash session
- JP Morgan expects tat FED will raise interest rates by 75bp today, target rate of 4.25% by Feb23
- Asian Development Bank lowered China growth outlook for 2022 to 3.5% from 5.0% estimate in April
- Chinese authorities implement a lockdown in Tangshan city, which is a major steel producer.
- RBA Deputy Governor Michelle Bullock said central will report a substantial loss in its 2021/22 annual account and be in negative equity for the period due to its massive bond-buying program. She also mentioned that policy rate level is not yet restrictive
- Reuters’ latest poll shows that economists do not think that Japan will intervene to stem the decline in the yen
- API survey showed 1,035 million barrels build, below market expectations of a 2.321-million-barrel increase
- Putin further delays his speech to the nation, while German Chancellor Olaf Scholz said Putin needs to recognize that he can’t win the war, according to a report from Reuters.
- Cryptocurrencies are trading higher today. Bitcoin rose 1.4% and Ethereum jumped 2.6%
- Oil prices rose 0.30%. WTI trades near $84.20 per barrel while Brent is testing $90.90 mark
- Slightly upbeat moods prevail on the precious metals market. Gold trades 0.10% higher and silver gains 0.60%
- USD and CAD are the best performing major currencies while AUD and JPY lag the most
US2000 once again managed to defend a major support zone around 1790 pts.