Market Updates at a Glance 08/6/22 (Wednesday)🌎
➤Wall Street stocks rose for the second consecutive day led by the energy sector with improving risk appetite helped by the pullback in VIX (Fear Index) ahead of Friday's key data CPI. VIX 24, Dow +0.80%, S&P +0.95% & Nasdaq +0.94%.
☛Note: technical outlook improves, a bull pennant is developing in S&P futures but beware as some investors might lock profit before the CPI, eyeing for higher lows in the near term if the market retreats.
➤The US dollar index was down to 102.34 (-0.48%), with 10-year treasury yield easing to below 3%.
➤EUR slightly up to 1.0705 while GBP climbed to 1.2589 (+0.49%). Boris Johnson won the no-confidence vote but his days as PM could be numbered. USDJPY extended the gains to 132.62 (+0.55%), a fresh 20-year high and still jumping as of writing. Japan Q1 GDP was revised to -0.3% from -0.2% Q/Q.
➤Gold prices trading sideways in the range of $1828-$1874 for almost 3-weeks. While Oil (Brent) gained +0.8% to $120.82, supported by the supply concerns and rising demands from China’s reopening.
➤Bitcoin continued to consolidate between $28,550-$31,300 since 10May22.
➤Wall Street stocks rose for the second consecutive day led by the energy sector with improving risk appetite helped by the pullback in VIX (Fear Index) ahead of Friday's key data CPI. VIX 24, Dow +0.80%, S&P +0.95% & Nasdaq +0.94%.
☛Note: technical outlook improves, a bull pennant is developing in S&P futures but beware as some investors might lock profit before the CPI, eyeing for higher lows in the near term if the market retreats.
➤The US dollar index was down to 102.34 (-0.48%), with 10-year treasury yield easing to below 3%.
➤EUR slightly up to 1.0705 while GBP climbed to 1.2589 (+0.49%). Boris Johnson won the no-confidence vote but his days as PM could be numbered. USDJPY extended the gains to 132.62 (+0.55%), a fresh 20-year high and still jumping as of writing. Japan Q1 GDP was revised to -0.3% from -0.2% Q/Q.
➤Gold prices trading sideways in the range of $1828-$1874 for almost 3-weeks. While Oil (Brent) gained +0.8% to $120.82, supported by the supply concerns and rising demands from China’s reopening.
➤Bitcoin continued to consolidate between $28,550-$31,300 since 10May22.