Daily Market Reflection 29 June 2022

Market Outlook
The Aussie and the Canadian dollar climbed on Tuesday on
firmer oil prices while the euro held below $1.06 as ECB offered Fundamental News
no fresh insight on the central bank's policy outlook. Oil prices
are up 10% in barely a week on supply constraint concerns with
 Hong Kong home prices slip in
Brent crude holding near $117 levels pushing the Canadian
May amid higher borrowing
dollar and the Australian dollar up 0.3% and 0.4% respectively
costs
versus the greenback. The euro held below $1.06 after the ECB's
Lagarde said the central bank would move gradually but with  German consumer sentiment
the option to act decisively on any deterioration in medium- plunges to new record low
term inflation, especially if there were signs of a de-anchoring
of inflation expectations.  U.S. manufacturing shows
resilience despite rising interest
Gold rose Tuesday morning in Asia as the U.S. dollar weakened rates
on softening inflation expectations. Gold futures inched up
0.12% to $1,826.95 by 12:45 AM ET (0445 GMT). The dollar,
which normally moves inversely to gold, also edged up on
Wednesday morning. Softening inflation expectations prompted INTRADAY SUPER STAR PREMIUM
a reassessment of the prospects for aggressive interest rate hikes.
As a way to tighten the sanctions on Russia over its invasion of Date Currency Entry Exit Target/SL
Ukraine, the U.S., UK, Japan, and Canada also plan to announce
28/06 USDJPY(S) 135 - UNEXE
a ban on new gold imports from Russia during the G7 summit.

Date Commodity Entry Exit Target/SL

28/06 XAGUSD(L) 21.45 - UNEXE
Global Markets
U.S. stock futures pointed to modest gains at the open on
Index of the Week
Tuesday as markets approached the halfway point of a year
DOW JONES
which has been characterized by rapidly tightening monetary
Market sentiment has been boosted as oil prices
policy from the Federal Reserve amid efforts to curb soaring
pulled back from the three-month highs hit earlier
inflation.Futures rebounded after Wall Street’s three main
in June.
indices closed lower on Monday as last week’s comeback rally
Things to Note
ran out of steam amid ongoing concerns over the prospect of
May data on durable goods orders is due out with
recession brought on by rapid rate hikes as the Fed tries to
economists expecting a slowdown.
stamp out inflation. All three indexes are on course to notch
two straight quarterly declines for the first time since 2015.
Global Currencies International Markets
Currencies Close Previous % Chg Index Value Change %
4:30 pm Change
DOW 31438.26 -62.42 -0.20%
GBPUSD 1.2241 1.2264 -0.19% NASDAQ 11524.55 -83.07 -0.72%
EURUSD 1.0578 1.0583 -0.05%
DAX 13314.65 +126.58 +0.96%
USDJPY 136.13 135.43 +0.52%
FTSE 7355.00 +96.68 +1.27%
EURJPY 144.02 143.33 +0.48%
NIKKEI 27049.47 +178.20 +0.66%
GBPJPY 166.68 166.09 +0.35%
SHANGHAI 3409.21 +30.03 +0.89%
GBPCHF 1.1702 1.1722 -0.17%
HANG SENG 22418.97 +189.45 +0.85%
USDCHF 0.9559 0.9558 +0.01%
USDCAD 1.2836 1.2878 -0.33%
EURGBP 0.8640 0.8627 +0.16% COMEX
CHFJPY 142.42 141.63 +0.56% COMMODITY DATE DATE %
EURCHF 1.0111 1.0115 -0.04% 28/06/22 27/06/22 CHANGE
AUDUSD 0.6944 0.6923 +0.30% XAUUSD 1823.19 1822.71 +0.03%
EURAUD 1.5239 1.5280 -0.27% XAGUSD 21.25 21.15 +0.47%
GBPAUD 1.7634 1.7707 -0.42% CRUDE 111.48 109.57 +1.74%

Event Calendar (29th June 2022, Wednesday)

Time Currency Event Forecast Previous
All Day EUR German Prelim CPI m/m 0.4% 0.9%
All Day All OPEC Meetings - -
3:45 pm USD FOMC Member Mester Speaks - -
6:00 pm USD Final GDP q/q -1.5% -1.5%
6:30 pm EUR ECB President Lagarde Speaks - -
6:30 pm GBP BOE Gov Bailey Speaks - -
6:30 pm USD Fed Chair Powell Speaks - -
OVERVIEW
XAUUSD

XAUUSD tried to gain

momentum from lows in the
early part of the session but
could not sustain there and
again surpassed the support of
1820. Now, 1815 is seen as
reversal point and 1840 is still
R1 R2 S1 S2 acting as resistance.
1835 1843 1815 1808

XAGUSD

XAGUSD dragged towards

lower levels and even
surpassed the mark of 21. If
weakness continues in the
metal then it may drop
towards the support zone of
20.70-20.50 while 21.25-
21.50 may act as hurdle.
R1 R2 S1 S2
21.25 21.50 20.75 20.60
 EURUSD

EURUSD strongly resisted near

the important resistance of 1.0600
and dropped from those levels to
break the trend line so coming
from lows and closed below it.
Now, 1.0480 is the next major
support while 1.0560 may act as
important immediate resistance.
R1 R2 S1 S2
1.0560 1.0600 1.0490 1.0460

GBPUSD

GBPUSD is strictly moving in the

same range of 1.2330-1.2160 since
last several sessions. Negative bias
so seen in the last session suggests
further dragging may be towards
1.2160 which may again act as
reversal point for it while 1.2300 is
seen as immediate resistance.

R1 R2 S1 S2
1.2280 1.2330 1.2160 1.2110
INTRADAY SUPER STAR(PREMIUM)

AUDCAD hovered around the support

levels on hourly charts.

SELL BELOW 0.8950 TARGETS

0.8930/0.8910 SL ABOVE 0.8970.

XAUUSD may reverse from the lows

near the trend line.

BUYSILVER
ABOVE is observed consolidating
1827 TARGETS 1832/1837
in a pattern
SL BELOW 1822. expected to move up
from the drawn level.
BUY ABOVE 22.78 TARGETS
22.93 SL BELOW 22.63
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