Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

14.06.22 Macro Afternoon

By Chris BeckerMarket OverviewJun 14, 2022 17:05
au.investing.com/analysis/140622-macro-afternoon-200511644
14.06.22 Macro Afternoon
By Chris Becker   |  Jun 14, 2022 17:05
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Asian share markets continue their slump as local stocks play catchup, putting two days of selling into one session that has many spooked. The USD remains strong against all the undollars, with gap downs across the complex although stock futures are stabilising going into the European open. Oil prices are drifting slightly higher as tensions in Libya mean well shutdowns, with Brent crude still well above the $120USD per barrel level while gold is trying hard to fightback after a big move lower overnight, currently just above the $1830USD per ounce level:

Mainland Chinese share markets are the best of the bunch with the Shanghai Composite only down a handful of points to 3254 while the Hang Seng Index actually gained ground, up 0.1% to close at 21018 points. Meanwhile Japanese stock markets had a sizeable pullback, with the Nikkei 225 index losing 1.3% to 26629 points while the USDJPY pair is holding on to its gains to remain well above the 134 level:

Australian stocks were the wurst of course, down more than 4.5% at one point on the ASX200 before eventually closing some 3.5% lower at 6686 points as it played catchup to other correlated risk markets. The Australian dollar has tried to bounce back up to the 70 cent level this afternoon, but the Pacific Peso is looking very weak here as weekly support has evaporated:

Eurostoxx and Wall Street futures are coming back slowly with the latter showing a nascent sign of bottoming after last night’s big selloff. The S&P500 four hourly futures chart shows price action still crushed well below the 3900 point level and the May lows (lower horizontal black line) as a swing play may give some hope here:

The economic calendar has a busy night with German inflation, UK unemployment, the closely watched German ZEW Survey then the US PPI print.

14.06.22 Macro Afternoon
 

Related Articles

David Jones
Euro Bounces Off The Magic Number By David Jones - Jul 16, 2022 2

There is a “groundhog day” feeling to financial markets as the same issue continues to concern investors - resulting in similar moves in certain markets. Of course, the...

14.06.22 Macro Afternoon

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Mat Buckley
Mat Buckley Jun 15, 2022 4:04
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Federal Reserves around the world continue to buy record Gold including the US. The US FED doesn't want Joe public to know so suppresses the price. Nothing to see here...
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email