DAILY ANALYSIS 15 september 2022

US indices finished yesterday’s higher but the scale of the move was nowhere near the scale of sell-off from the day before. S&P 500 gained 0.34%, Dow Jones moved 0.10% higher and Nasdaq jumped 0.74%. Russell 2000 gained 0.38%

Indices from Asia-Pacific traded mixed today – Nikkei and S&P/ASX 200 gained while Kospi and indices from China moved lower

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

ECB Chief Economist Lane said that rate hikes will be larger, the greater risks to the inflation and the wider the gap to the terminal rate. ECB Holzmann said that ECB response was delayed as the bank underestimated pace of inflation

White House said it is preparing a plan to keep supply chains active if planned rail strike goes ahead

Armenia and Azerbaijan reportedly reached a cease-fire agreement. However, it should be noted that a cease-fire agreement brokered by Russia two days ago was broken within hours

New Zealand GDP growth reached 1.7% QoQ in Q2 2022 (exp. 0.8% QoQ)

Australian employment increased by 33.5k in August (exp. 49.5k) while the unemployment rate ticked higher from 3.4 to 3.5% (exp. 3.4%)

Japanese exports increased 22.1% YoY in August (exp. 23.6% YoY) while imports were 49.9% YoY higher (exp. 46.7% YoY)

Cryptocurrencies are trading lower today – Bitcoin and Ethereum traded 0.2% lower. ApeCoin is an exception, trading 0.7% higher at press time

Energy commodities trade a touch lower on Thursday morning with Brent and WTI dropping around 0.3% each

Precious metals trade lower amid USD strengthening. Gold trades 0.4% lower while silver drop almost 0.9%

AUD and USD are the best performing major currencies while JPY and GBP lag the most

Gold took a hit as the USD resumed rally. Precious metal dropped below $1,700 handle and is approaching late-July low in the $1,680 area