FEDSpeak – in digital union about greater charges (together with Dimon “too early to declare victory vs. inflation”) – Fed Funds terminal fee now 5.122%. USDindex holds at 1-mth highs in flat FX markets, US10yr yield 3.653. Google’s AI the “Bard” bombed (acquired a incorrect reply in a promo demo) – #Alphabet shares tanked -9% at one level however closed -7.7% earlier than recovering again to flat after hours. One to Watch at US Open later, together with #DISNEY – Earnings & Income beat (+5.4% after hours)- Iger introduced 7k job losses (3.6%) as Disney+ subscribers fell for first time since launch in 2019. #TOYOTA earnings up 23% in a single day & Siemens & Volvo earnings additionally beat too. USOIL up once more to $78.50, Gold holds key $1880, BTC $22.6k.

• FX USD Index holds at 103.00 however a tad cooler at present at 103.13,  EUR holds over 1.0700 at 1.0734, JPY holds over 131.00 at 131.25 and Sterling (greatest performer in a single day) is testing 121.00 from 1.2025 lows on Wednesday. 
• Shares – The US markets tanked (-0.61% to 1.68%) led by #Alphabet US500 -1.11% (-46.14) 4117, holding the important thing 4100. US500 FUTS struggled at 4175 resistance, 4145 now. 

• Commodities – USOil – Futures rallied once more to commerce at $78.50 at present from $72.20 lows on Monday. Gold – Superior from $1865 lows yesterday to $1880 resistance once more now.
• Cryptocurrencies  – BTC – Examined $22.3k lows yesterday, earlier than lifting again to $23.7k now.

As we speak – EU Leaders Summit (inc.Zelenskiy), US Weekly Claims, Speeches from BoE’s Bailey, Tablet, Tenreyro, Haskel, ECB’s de Guindos, . Earnings PepsiCo, Phillip Morris, AbbVie, PayPal & Kellogg.

Greatest FX Mover @ (07:30 GMT) GBPAUD (+0.65%). Sank from a take a look at of 1.7450 yesterday to 1.7350, earlier than rallying once more to 1.7380 at present. MA’s now flat, MACD histogram & sign line constructive however declining, RSI 48.75 & impartial, H1 ATR 0.00200, Each day ATR 0.01558.

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Stuart Cowell

Head Market Analyst

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