Market Updates at a Glance 20/5/22 (Friday)
☛Wall Street Stocks are in a Gloomy Mood. Eyeing Possible 2022 Low Breakout.

➤U.S stocks were muted as sentiment remained fragile after Wednesday's sell-off. Dow -0.75%, Dow hit a 14-month low, S&P -0.58% & Nasdaq -0.26%, Vix (fear index) still near 30.

➤The U.S. dollar index retraced to 102.88 (-0.92%), the lowest in two weeks, as the treasury yields were lower across the curve with the 10-year treasury continuing to drop to 2.836% from its recent peak of 3.2%.
Economic data from the US showed Initial Jobless claims to the highest since January at 218K.

➤GBP, EUR & AUD rebound strongly amid the weaker greenback against all major currencies, with GBP closed at 1.2469(+1%), EUR 1.0583 (+1.15%) (failed bear flag pattern-refer to post on 10/5), AUD 0.7044(+1.35%). ECB minutes increased the chance of end of QE in June and hike in July. USDJPY eased to 127.83 (-0.3%) on robust Japan’s National Inflation at 2.5%.

➤Gold jumped to $1841 (+1.33%) and regained the 200-day SMA on fears of recession. Oil (Brent) edged higher to $111.34 (+2.44%).

➤BTC ended higher to $30,200; but still in a sideways range of $28,550-$31,300. XRP rallied to $0.4201.


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