DAILY ANALYSIS 10 AUGUST 2022

  • US indices finished yesterday’s session lower. S&P 500 dropped 0.42%, Dow Jones moved 0.18% lower while Nasdaq fell 1.19%. Russell 2000 plunged 1.66%
  • Indices from Asia-Pacific traded mostly lower today. Nikkei fell 0.74%, S&P/ASX 200 lost 0.32% while Kospi dropped 0.70%. Indices from China traded lower.
  • DAX futures point to a slightly higher opening of the European cash session
  • China July CPI 2.7% y/y below analysts’ estimates of 2.9%
  • Elon Musk sold 7.92 million shares in Tesla worth $ 6.9 billion according to SEC filings.
  • China implemented partial lockdowns in Xinjiang
  • Fed’s Bullard says it’s too early to claim inflation has peaked
  • Cryptocurrencies are trading lower today. Bitcoin fell 1.5% and Ethereum lost nearly 2.0%
  • Oil is trading over 0.60% lower. WTI trades near $90.00 per barrel while Brent is testing $95.85 mark
  • Downbeat moods prevail on the precious metals market. Gold trades 0.40% lower and silver dropped 0.50%
  • JPY and NZD are the best performing major currencies while AUD and CHF lag the most
  • US500 once again failed to break above the major resistance zone around 4190 pts. Source: xStation5
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DAILY ANALYSIS 09 AUGUST 2022

  • US indices finished yesterday’s session mixed. S&P 500 dropped 0.12%, Dow Jones moved 0.09% lower while Nasdaq fell 0.10%. Russell 2000 jumped 1.01%
  • Indices from Asia-Pacific traded mostly higher today. S&P/ASX 200 added 0.02% while Kospi rose 0.44%. Indices from China traded higher. Nikkei underperformed and fell 0.94%
  • DAX futures point to a lower opening of the European cash session
  • Russia will no longer cooperate with US inspections of its nuclear arsenals under the New START control treaty
  • Taiwan’s foreign minister says China’s military exercises are preparation for an invasion
  • Goldman Sachs sees tactical upside risk for USD/JPY towards 140 in the near-term
  • Reports of explosion at Google data center in Iowa
  • China’s financial (state-sponsored) media said the People’s Bank of China is unlikely to lower interest rates or the Reserve Requirement Ration (RRR).
  • Australian weekly consumer confidence index fell to -4.5%, lowest since April 2020
  • The RBA launched a one-year research program into CBDC
  • Cryptocurrencies are trading slightly higher today with Bitcoin adding 0.4% and Ethereum rallying 0.8%
  • Oil is trading over 0.15% higher. WTI trades near $90.62 per barrel while Brent is testing $96.40 mark
  • Mixed moods prevail on precious metals market. Gold trades 0.14% lower but silver gains 0.12%
  • JPY and GBP are the best performing major currencies while NZD and USD lag the mostAUDUSD strengthened on Monday, however buyers failed to break above upper limit of the wedge formation and today we can observe slight pullback. Source: xStation5
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DAILY ANALISIS 05 AUGUST 2022

US indices finished yesterday’s session slightly lower. However, tech stocks managed to gain. S&P 500 dropped 0.08%, Dow Jones moved 0.26% lower while Nasdaq gained 0.41%. Russell 2000 dropped 0.13%

Indices from Asia-Pacific traded higher today. Nikkei gained 0.8%, S&P/ASX 200 added 0.5% while Kospi moved 0.9% higher. Indices from China traded mixed

DAX futures point to a flat opening of the European cash session

China has reportedly blocked shipments to Taiwanese iPhone assembler Pegatron. The move is said to be retaliation for Pegatron’s executives meeting with US House Speaker Nancy Pelosi

According to Reuters report, Saudi Arabia and United Arab Emirates still have some spare oil production capacity but are unlikely to tap into it unless a major energy crisis occurs during winter

Japan demanded China halts its military drills immediately after 4 Chinese ballistic missiles were fired into Japan’s exclusive economic zone

RBA Monetary Policy Statement for August showed that the Bank is ready to do what is necessary to bring inflation to 2-3% range. However, document also noted that there is a narrow path to restraining inflation without hurting economy

Japanese household spending increased 3.5% YoY in June (exp. 1.0% YoY)

Reserve Bank of India delivered a 50 basis point rate hike, to 5.40% (exp. 5.25%)

Cryptocurrencies are trading higher today with Bitcoin adding 2.6% and Ethereum rallying 4%

Oil is trading over 1% higher. WTI trades near $89 per barrel while Brent is testing $94.50 mark

Precious metals gain in spite of USD strength. Gold trades flat but silver (+0.5%) and platinum (+0.8%) gain

USD and CAD are the best performing major currencies while JPY and CHF lag the most

Brent (OIL) plunged to the lowest level since February 25, 2022 yesterday as recession fears continue to exert pressure on crude. An attempt to launch a recovery move can be observed this morning although the scale of moves looks small compared to

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